Cingular, At&T & Triton PCS Look to Exchange Operations In

[Barry]

Cingular Wireless, AT&T Wireless , and Triton PCS announced upon Cingular's acquisition of AT&T Wireless, Cingular will received expanded wireless service in Virginia and Triton PCS added coverage in North Carolina as well as entry into Puerto Rico.

Under the terms of the letter of intent, Cingular would receive Triton PCS's network assets and customers in Virginia. Triton PCS would receive certain AT&T Wireless network assets and customers in North Carolina and Puerto Rico, plus $175 million in cash from Cingular.

Additionally, Triton PCS and AT&T Wireless have entered into definitive agreements to terminate the stockholder agreement, which includes termination of an exclusivity arrangement in return for the surrender of AT&T Wireless' equity in Triton PCS. The parties also agreed that Triton PCS would have exclusive right to the SunCom brand. With these agreements, Triton PCS will be able to compete beyond its current footprint and Cingular will provide continuing service in areas where Triton PCS currently has operations.


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