Centennial de Puerto Rico is a full telecommunications provider, committed to serve Puerto Rico in three main telephone service areas: Wireless, Wireline and Data services.

Well recognized worldwide for the implementation of CDMA technology in wireless telephone services, Centennial de Puerto Rico has come a long way towards positioning Puerto Rico as home to some of the world's most advanced telecommunications technologies.

Certified as a Wireline carrier in Puerto Rico, Centennial is a local provider of Wireline services in a market that opened to competition after the 1996 Telecommunications Reform Act. Centennial was granted authorization to provide intra-island and interstate switched service, becoming a competitive access provider in December 1994. We benefit the Wireline customers by providing simple, integrated, complete, reliable and cost effective solutions.

Since it’s commercial launch in December 1996, the Company became the place to visit in the industry, as technological showcase, receiving visitors from as far away as China and Indonesia, venturing to see the system firsthand.

As part of our Company’s diversification, during the year 2000, Centennial will enter the Cable TV industry, throughout the acquisition of the cable TV assets that serve 15 municipalities in the western region of the Island.

Due to its success story in the Island, Centennial de Puerto Rico has become headquarters for Centennial’s telecommunications services expansion in the Caribbean Region, a project that has been initiated with operations in the Dominican Republic and Jamaica.

With solid Wireless and Wireline infrastructures, Centennial de Puerto Rico has proven to be the most important initiative in the private sector on the Island in the last 25 years.

In Centennial, our pledge to the Puerto Rican community and to ourselves is to continue growing and working to serve as the best option for Puerto Ricans to connect and communicate with one another and with the rest of the world.

The Vision

The vision of Centennial de Puerto Rico is to be a full telecommunications services provider that builds lasting relationships with employees and customers through services designed to exceed expectations. The company strives to achieve this vision by focusing on customer service at all levels of the operations and by maintaining the highest standards in all its processes.

In this sense, the Company has invested $250 million to acquire and build out its wireless and wireline network’s high quality infrastructures. These are part of Centennial’s commitment to provide the most advanced technology to Puerto Rico and its people. The key elements of the vision are built on the foundation of a total telecommunications network with the most advanced products and services and dedicated employees, who work tirelessly to create lasting relationships with their customers.

Centennial de Puerto Rico

Centennial de Puerto Rico, a wholly owned subsidiary of Centennial Communications Corporation, is an integrated communications provider committed to serve Puerto Rico. In the telecommunications area, Centennial operates three main telephone service areas: Wireless, Wireline and Data divisions. Centennial is currently in the process of completing an acquisition of Cable TV services to 15 municipalities in the western region of the Island.

Centennial’s Licenses and Main Services

Centennial de Puerto Rico has a 30MHz license for all Puerto Rico and the USVI and a Competitive Local Exchange Carrier (“CLEC”) license for Puerto Rico. Once completed Centennial will own capacity on Americas II under sea cable linking Puerto Rico and the U.S. mainland. Wireless, wireline, data local dial tone, long distance and Internet service are all delivered by the same integrated communications system.

Centennial de Puerto Rico is well recognized for the implementation of CDMA technology in wireless telephone services. Among the Company’s greatest accomplishments are:

· The integration of the wireless and wireline services over a single network and switch.

· Its tremendous growth, which led the company to the installation of a second switch and to the deployment of a fourth carrier in the CDMA network.

· The world’s first deployment of the fourth CDMA carrier.  

Puerto Rico’s first wireless CDMA network, which is not only the first commercial application of this technology but the most advanced worldwide CDMA application.

· The Fixed Wireless Service, or Wireless Local Loop, marketed as  HomePhone and BusinessPhone, which also represents the first worldwide application of this technology

The first private fiber optic landline network in Puerto Rico, positioning the Island as a world showcase in technology.

An ATM switch currently in development, to be able to provide high speed data transmission.

As part of it’s ongoing business plan, the Company keeps expanding it’s coverage throughout the Island, upgrading the systems and providing the necessary surveillance and maintenance to the networks for optimum performance. Consequently, Centennial de Puerto Rico recently became the first wireless carrier eligible to receive payments from the Universal Service Fund for offering basic telephone service in Puerto Rico.

Centennial’s  Corporate origin and evolution

Centennial de Puerto Rico had its origin with Centennial Cellular Corporation, a Century Communications company who operated the business until 1998.

On January 7, 1999, CCW Acquisition Corp., a Delaware corporation organized at the direction of Welsh, Carson, Anderson & Stowe VIII merged with and into Centennial. Centennial continued as the surviving corporation in the Merger.

Centennial Cellular: The Company as a Whole

Centennial is one of the largest independent wireless telecommunications service providers in the United States and the Caribbean with licenses to serve approximately 18.7 million people and has over 585,500 wireless subscribers. The company has over 416,500 domestic wireless subscribers.

Centennial de Puerto Rico is a fully integrated provider of communications services in Puerto Rico, utilizing a PCS license with the right to serve 3.8 million people in Puerto Rico and the U.S. Virgin Islands and a Competitive Local Exchange Carrier license to operate in Puerto Rico. As of the company’s February 2000 quarterly financial report, Centennial de Puerto Rico has approximately 169,000 wireless subscribers. At present, Centennial has 9 retail stores, over 80 kiosks, 60 retail agents, and over 1,000 employees throughout the Island.

In August 1999 Centennial de Puerto Rico acquired Integrated Systems and Spiderlink Internet Services, as part of its strategic business development on the Island. Integrated Systems became Centennial Data Services while Spiderlink merged into Centennial Internet Services.

This acquisition strengthened Centennial de Puerto Rico’s capability as a one stop business solution for all telecommunications needs, being able to provision integrated wireline services and solutions to better meet customer’s computer, information system and telecommunications services needs.

In January 2000, Centennial acquired a 70% interest in All America Cables and Radio Inc. in the Dominican Republic. AACR is an international long distance provider that also holds a 30MHz PCS license, a Local Multipoint Distribution System (LMDS) license and a certificate to provide a broad range of telecommunications services in the Dominican Republic, representing approximately 6.2 million people.

In May 2000, Centennial Communications Corp. acquired a 51% interest in Paradise Wireless Limited from Oceanic Digital Corporation. Paradise Wireless recently won at auction the broadband 800 MHz CDMA license for all of Jamaica. Oceanic Digital will retain a 49% interest in Paradise Wireless. Jamaica has a population of 2.6 million.

In addition of cable television to Centennial’s current offerings on the island strengthens the company’s position as a single-source provider of communication services for our customers. This acquisition added cable television to Centennial’s current Puerto Rico service offerings of wireless PCS, wireless local loop, Internet, and local and long distance telephone services.

Welsh, Carson, Anderson & Stowe

Welsh, Carson, Anderson & Stowe (WCAS) and an affiliate of The Blackstone Group are controlling shareholders of Centennial. WCAS is a private investment firm based in New York and founded in 1979. WCAS currently manages over $8 billion in private equity capital and focuses primarily on the information services and healthcare industries.

The Blackstone Group

The Blackstone Group is a New York based private investment bank. Blackstone is one of the leading firms engaged in institutional private equity investing. The firm’s current primary corporate private equity investment vehicle is Blackstone Capital Partners III Merchant Banking Fund L.P., with approximately $3.8 billion in committed capital.

The Promise to Centennial’s Customers

Centennial works towards lasting relationships with its customer’s in Puerto Rico. In doing so, the Company provides its customers with a total telecommunications package that far exceeds the competition:

· A state-of-the-art billing system and a new operational support system to better serve the customer base.

· A base product with exceptional results, thanks to the 100% digital network.

· 80+ sales and service centers throughout the island and 60+ dealers.

· Products and services that meet and exceed customer’s expectations for telecommunications services, such as the HomePhone and BusinessPhone services that allow for the instant activation of the basic telephone service where wireline was not previously or readily available.

· A commitment to continually introduce new products and services.

Certainly, by providing total telecommunications services from committed employees, creating a lasting relationship with customers and by investing in the community, Centennial de Puerto Rico proves to be one of the most important private initiative on the island in the last 25 years.