Centennial Exploring P.R. System Sale

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Centennial Communications Corp. has hired New York investment banker Morgan
Stanley Dean Witter & Co. to assist it in evaluating strategic alternatives
for its cable properties in Puerto Rico, including a possible sale.

Centennial Cable TV has about 95,000 subscribers in Puerto Rico, and the
system is undergoing a digital upgrade, which should be completed by the end of
September. Centennial said in a prepared statement that it hired Morgan Stanley
in response to inquiries from interested parties.

The systems pass about 300,000 homes, and Centennial's franchise area covers
about 1.1 million customers, or roughly 29 percent of the island's

Centennial -- which also provides wireless-telecommunications service to
882,600 subscribers in the United States and the Caribbean -- acquired the
Puerto Rico systems in two separate deals, purchasing 37,000 subscribers from
Teleponce Cable TV in April 2001 for $108 million in cash and another 57,000
from Pegasus Communications Corp. in September 2000 for $170 million in

The former Pegasus systems are located in Aguadilla, Mayaguez, San German and
surrounding communities in the western part of Puerto Rico. The ex-Teleponce
systems serve areas in and around Ponce in the southwestern part of the