Press Releases
SOURCE: DH Capital, LLC

DH CAPITAL ADVISES NTELOS ON SALE OF CABLE TV SYSTEM TO RAPID COMMUNICATIONS

NEW YORK, NY - September 24, 2003 - DH Capital, LLC, a New York City based investment banking partnership, announced today that it represented NTELOS Inc. (www.ntelos.com) in their recent sale of its cable subsidiary, NTELOS Cable of Virginia, Inc. to Rapid Communications LLC ("Rapid Cable"). The cable system serves approximately 6,500 customers in Covington, Clifton Forge, Iron Gate and portions of Alleghany County in Virginia.

"We are pleased to have assisted NTELOS in the divestiture of their cable television system. This is a continuation of NTELOS' plan to focus on its strategic core businesses of wireless PCS, local telephone, Internet and high speed data services" stated Mark Thorsheim, Principal of DH Capital. Mr. Thorsheim further noted, "This transaction is a terrific fit for Rapid Cable, which has had success in the past operating in small markets like Covington."

NTELOS Inc. is an integrated communications provider with headquarters in Waynesboro, Virginia. NTELOS provides products and services to customers in Virginia, West Virginia, Kentucky, Tennessee and North Carolina, including wireless digital PCS, dial-up Internet access, high-speed DSL (high-speed Internet access), and local and long distance telephone services. Detailed information about NTELOS is available online at www.ntelos.com.

Rapid Cable is a cable television operator formed by cable veteran Tom Semptimphelter with private equity investors including Alta Communications, Columbia Capital and Housatonic Partners.

About DH Capital, LLC
DH Capital is a private investment banking partnership serving the media, Internet and telecommunications industries. The firm capitalizes on more than seventy years of combined experience in financing, acquiring, selling and operating companies. DH Capital specializes in providing a full range of advisory services to companies and financial institutions including private placements, mergers & acquisitions, financial restructuring, and operational consulting. The principals of DH Capital have led hundreds of transactions including M&A totaling in excess of $10 billion, private equity placements totaling more than $700 million, and debt placements totaling in excess of $7 billion.

For additional information on DH Capital, please contact us at 212-698-7990.