PTI purchase of IT&E now final

Guam—Pacific Telecom, Inc.’s Guam subsidiary, PTI Pacifica, Inc., has completed the purchase of selected current telecommunication assets and the IT&E brand name. The company will continue to operate as IT&E. All plans, rates and service charges will continue without any changes to IT&E customers.

“Now that ITE’s asset purchase has been completed, and their subscribers have been moved to PTI’s own frequency, we look forward to implementing our substantial capital expenditure program, and bring in new and exciting services to the residents of Guam in the near future,” said Ricky Delgado, president and CEO of PTI.

IT&E’s cellular, long distance, Internet, and business phone and data solutions in Guam and the CNMI will be combined with PTI’s, which also provides CDMA and GSM cellular, long distance, data communications, as well as fixed line services to the residents of the CNMI.

PTI provides data communications and long distance services in Guam and publishes The CNMI Phone Book™ and The Guam Phone Book™. PTI was recently chosen to provide directory assistance services to Hawaiian Telcom customers and will soon be opening a locally-staffed call center on Saipan.

PTI said it is committed to provide a level of customer service that will exceed customer expectations. “From the onset, our group has seen the total commitment of PTI resources to make our customers the No. 1 priority and we are very excited about being a part of the IT&E team as we move forward,” said Lynette Makio, IT&E Customer Service manager.

PTI is now the largest telecommunications company in the Marianas with over 75,000 total subscribers on four islands.

This past weekend, a change to PTI’s cellular frequency was completed successfully. This was the first step in the $10 million investment into IT&E’s infrastructure. The company will offer the latest technology and a wide range of products and services to its customers in Guam and the CNMI. Plans include a complete upgrade of the CDMA wireless platform in Guam, an expansion of the GSM platform in Guam, and the completion of a redundant microwave backbone throughout the Guam, Rota, Tinian, and Saipan.

PTI was purchased from Verizon by Prospector Holdings Inc. of the Philippine-based Delgado family in September 2005. In 2006, Sumitomo Corp. invested $25 million into PTI as a long-term strategic partner. Together both companies continue to work closely to expand PTI with a long term regional orientation in mind. [B][I](PTI)[/I][/B]