Client Company News
SOURCE: CHESTER TELEPHONE COMPANY

CHESTER COMMUNICATIONS, LLC ANNOUNCES PURCHASE AGREEMENT

Chester, SC - On January 5, 2006, Chester Communications, LLC signed a definitive agreement to purchase from Charter Communications, LLC, a subsidiary of Charter Communications, Inc. (Nasdaq: CHTR) ("Charter") all of the assets related to Charter's cable television system in Chester County, SC, serving approximately 2,800 customers.

David Andersen, Charter Senior Vice President of Communications stated, "It was important to us that our potential buyer be able to continue toutilize our modern technologies and robust infrastructure to provide high quality and economically priced services to Chester County customers. We are confident Chester Communications has the technological and customer service expertise and experience to do so." Chester Communications, LLC is a subsidiary of Chester Telephone Company, the local exchange telephone company that has been serving most areas of Chester County for over 100 years. Their corporate mission is to provide the highest quality and most cost-effective communication services within their communities through local customer service and support personnel.

Brian Singleton, CEO of Chester Communications, LLC stated, "The acquisition of the Chester cable system from Charter will allow us the opportunity to provide additional products and services to our existing customer base. We look forward to providing video service to Chester residents and businesses with the same high level of customer service to which they are accustomed. Our plan is to work closely with Charter to provide a smooth transition for all current customers while we begin developing new services and packages that will be beneficial to the residents of Chester."

Pending regulatory approval, the final ownership exchange between Charter and Chester Communications, LLC is expected to take place during the first quarter of 2006. Financial terms of the transaction were not disclosed. Charter and Chester Communications, LLC will work together to ensure a smooth transition for the residents and businesses of Chester County.

DH Capital LLC, a New York based investment banking firm focused on the media and communications industries, served as exclusive financial advisor to Chester Communications, LLC.