Mid Maine Communications to be Acquired

For Release April 10, 2006 5:01pm:
Bangor, Maine

Mid Maine Communications, a Maine based Telecommunications Company, announced today that it has signed an agreement to be acquired by Otelco Inc. a publicly traded telecommunications company. Otelco has its headquarters in Oneonta, Alabama and serves approximately 39,000 telecom access lines equivalents in Alabama and Missouri.

Gary Sugarman, Chairman and Founder of Mid Maine, indicated that a key factor for the decision was based on Otelco’s comparable philosophy and strategy with Mid Maine.

Otelco believes expansion opportunities exist in New England and that the Mid Maine acquisition can be the catalyst for growth in this part of the country.

Otelco CEO, Mike Weaver, said “he is delighted to partner with a company that has such an excellent reputation as Mid Maine” and looks forward to continuing to provide outstanding customer service and telecom solutions to MMC’s customer base from Portland to Enfield, Maine. He added that Mid Maine’s focus on local operations and support will not change. Nick Winchester, CEO of MMC, will continue to oversee the company operations after the acquisition.

Mid Maine Communications was founded in 1994 and is one the largest facility based telecom companies in the state with offices in Bangor and Portland. The Company provides local telecom services as well as a full range of data services from DSL to fiber transport to both a residential base around Bangor and business customers throughout the state.

The transaction is subject to various regulatory approvals. Daniels & Associates, the Denver-based telecommunications and media mergers & acquisitions and corporate finance specialist, represented Mid-Maine in the transaction.

Contact:
Nick Winchester, CEO
Mid Maine Communications
207.992.9988
Nick.Winchester@midmaine.com