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Technology Stocks : CPTL -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (176)	3/9/1999 9:05:00 AM
From: BridgeTech	Read Replies (1) \| Respond to of 199

BRIDGE TECHNOLOGY GROUP LLC INITIATES COVERAGE OF CTC COMMUNICATIONS WITH A BUY RECOMMENDATION Please Visit Bridge's Web Site at www.BridgeNYC.com for Detailed Report New York, NY, March 8, 1999 4:30 PM ET -- Bridge Technology Group LLC announced today that it has initiated coverage of CTC Communications Corp. (Nasdaq: CPTL) with a BUY Recommendation. The full text of this report can be accessed at Bridge's web site, at www.BridgeNYC.com. Commenting on the report, Jeffrey B. Davis, President of Bridge, stated, “We are very pleased to recommend CTC at this time, as we believe the company is well positioned for significant revenue growth and margin expansion as they deploy their state-of-the-art, packet-switched network. We believe CTC trades at a significant discount to its peer group and have a 12-month price target range of $25 to $28 per share.” Excerpts from the report follow: CTC Communications is a rapidly growing integrated communications provider (“ICP”), offering a comprehensive package of services, including local, long distance, Internet access, frame relay and other data services on a single integrated bill. CTC currently serves small- and medium-sized businesses in the Northeast and Mid-Atlantic states, operating 25 branch offices with approximately 175 direct sales people and 95 customer service representatives. We believe that CTC's sales and customer service program, honed over 15 years of telephony sales and service as Bell Atlantic's largest agent, is a key competitive advantage, and will continue to result in high access line growth and low customer churn. CTC is currently deploying a state-of-the-art, packet-switched data-centric network, which it calls its Integrated Communications Network (“ICN”). The first switches, advanced ATM+IP (Asynchronous Transfer Mode + Internet Protocol) switches produced and financed by Cisco Systems, Inc. (Nasdaq: CSCO), are currently being deployed in CPTL markets, and we expect CPTL will begin transitioning customers to its network in Summer 1999. Utilization of its own network will enable CPTL to provide its customers with an enhanced package of telephony services, with expanded margins. We believe CPTL is significantly undervalued compared to its peer group, and that the market is not recognizing the uniquely strong sales and customer service system that CPTL is utilizing to grow access lines and retain customers. We believe CPTL will be able to get its ICN deployed, and will be successful at transitioning a significant percentage of the high-margin data services to its network beginning in the second half of this year. We recommend purchase of CPTL common stock by investors tolerant of the risks associated with small-cap equity investments. ### Bridge Technology Group LLC is focused on identifying emerging growth companies in the healthcare and information technology sectors that offer compelling investment opportunities over the long term. By providing comprehensive financial services, including corporate finance, M&A advisory, strategic partnering and communications consulting, the company positions itself to provide a fully integrated package of value-added services to emerging growth companies. ### The information in this press release has been obtained from sources that Bridge Technology Group LLC believes to be reliable, but the Company does not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation by Bridge Technology Group LLC for the purchase or sale of any securities. Bridge Technology Group LLC has performed investment banking, consulting or other services for or may solicit investment banking, consulting or other business from, any company mentioned in this release. Bridge Technology Group LLC or persons associated with Bridge Technology Group LLC may at anytime be long or short any of the securities referred to herein and may make purchases or sales thereof while the Company's reports are in circulation or posted on the Bridge Technology Group LLC web site at www.BridgeNYC.com. This material, or any portion thereof, may not be reproduced without prior permission from Bridge Technology Group LLC. Bridge Technology Group LLC is not responsible for the contents of this document that is intended for electronic transmission and could be thus subjected to tampering or alteration. Copyright 1999 by Bridge Technology Group LLC. All rights reserved.