LTEL HOLDINGS, A SOUTHRIDGE CAPITAL MANAGEMENT LLC BACKED COMPANY, ANNOUNCES POSITIVE EBITDA Companys Gross Billings Increasing 40% A Year

Southridge Capital Management LLC, a private investment firm that provides growth capital to small-cap and micro-cap companies, announced today that LTEL Holdings, owner of an operating company that Southridge established in 1998, has become EBITDA positive. Revenues for the company are increasing at an annual rate of 40%.

Ridgefield, CT, (PRWEB) October 15, 2003 -- Southridge Capital Management LLC (Southridge"), a private investment firm that provides growth capital to small-cap and micro-cap companies, announced today that LTEL Holdings, owner of an operating company that Southridge established in 1998, has become EBITDA positive. Revenues for the company are increasing at an annual rate of 40%. It is expected to be EBITDA positive going forward and it is now turning its attention to acquisitions and wireless opportunities. The company is a rapidly growing Atlanta-based regional provider of integrated communications services to businesses and consumers.

LTELs operating subsidiaries provide regulated local, long distance and international telecommunications services. The subsidiaries offer a full array of fixed wireline voice, data, long distance and Internet services to customers throughout BellSouths Southeastern operating territory. LTELs operating subsidiaries are certified by the FCC and currently serve customers in nine states: Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.

LTEL, through its affiliate partnerships and ability to leverage its competitive advantages in the marketplace has built a solid foundation for future growth," said Dale Smith, Chief Executive Officer, LTEL Holdings. The long-term financial commitment LTEL has received from Southridge Capital has enabled us to grow through a challenging business environment. The fact that we are EBITDA positive is not only a tremendous milestone for our management team, but is also a testament to Southridge, in that LTEL would not exist today were it not for them."

About Southridge
Since its founding in 1996, Southridge advised funds have provided in excess of $1.0 billion in growth capital to emerging companies. Southridge is committed to funding companies with robust business models in the U.S. and Europe.
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For further information please contact:

Kenny Juarez
The Abernathy MacGregor Group
T: 212-371-5999
E: kwj@abmac.com