News

Dycom Industries, Inc. and Orius Corporation today jointly announced that the two companies have entered into an Asset Purchase Agreement pursuant to which Dycom would buy certain assets and assume a number of the contracts of Orius for approximately $8.0 million in cash and the assumption of $1.0 million of liabilities. In order to implement the purchase, Orius and certain of its subsidiaries have filed cases under Chapter 11 of the Bankruptcy Code. The agreement will be filed with the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, along with a motion seeking the establishment of sale procedures for an auction that allows other qualified bidders to submit higher or otherwise better offers for all or part of Orius in a competitive auction process. The agreement is subject to Bankruptcy Court approval and other customary closing conditions.

Orius Corporation is a nationwide provider of construction, deployment and maintenance services to customers operating within the telecommunications; broadband; gas and electric utilities; and government industries.

Dycom Industries, Inc. is a leading provider of specialty contracting services throughout the United States. These services include engineering, construction, maintenance and installation services to telecommunication providers, underground locating services to various utilities, including telecommunication providers, and other construction and maintenance services to electric utilities and others.

Forward-Looking Statements

This press release contains "forward-looking statements" contemplated by the 1995 Private Securities Litigation Reform Act. These statements are based on management's current expectations, estimates and projections. Forward- looking statements are subject to risks and uncertainties that can cause actual results in the future to differ materially from the results projected or implied in any forward-looking statements contained in this press release. Such risks and uncertainties include: business and economic conditions in the telecommunications industry affecting customers and the anticipated outcome of contingent events, including litigation, liquidity needs and the availability of financing, as well as other risks detailed in Dycom's filings with the Securities and Exchange Commission. Neither company undertakes any obligation to update the information in this press release.

SOURCE: Dycom Industries, Inc.