Siepert & Co. LLP
-----------------
Certified Public Accountants
John F. Davis, C.P.A.
Dennis J. Seeley, C.P.A.
Robert F.X. Keeler, C.P.A.
Robert J. Quinn, C.P.A.
Gary L. Meier, C.P.A.
Dennis E. Hildebrandt, C.P.A.

                          INDEPENDENT AUDITOR'S REPORT

Board of Directors

CUBA CITY TELEPHONE EXCHANGE COMPANY
Madison, Wisconsin

We have audited the accompanying  balance sheet of Cuba City Telephone  Exchange
Company as of December 31, 1999, and the related statements of income,  retained
earnings and cash flows for the year then ended. These financial  statements are
the responsibility of the Company's management. Our responsibility is to express
an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally  accepted auditing standards
and Government  Auditing  Standards,  issued by the  Comptroller  General of the
United  States.  Those  standards  require that we plan and perform the audit to
obtain reasonable  assurance about whether the financial  statements are free of
material  misstatement.  An audit includes examining,  on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audit  provides a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of Cuba City Telephone Exchange
Company as of December 31, 1999,  and the results of its operations and its cash
flows for the year then ended in conformity with generally  accepted  accounting
principles.

In accordance with Government Auditing  Standards,  we have also issued a report
on our consideration of the Company's internal control over financial  reporting
and our tests of its compliance with certain provisions of laws and regulations,
dated January 19, 2000.

SIEPERT & CO. LLP
Certified Public Accountants

Beloit, Wisconsin
January 19, 2000

<PAGE>

Siepert & Co. LLP
-----------------
Certified Public Accountants
John F. Davis, C.P.A.
Dennis J. Seeley, C.P.A.
Robert F.X. Keeler, C.P.A.
Robert J. Quinn, C.P.A.
Gary L. Meier, C.P.A.
Dennis E. Hildebrandt, C.P.A.

                          INDEPENDENT AUDITOR'S REPORT

Board of Directors

BELMONT TELEPHONE COMPANY
Madison, Wisconsin

We have audited the accompanying  balance sheet of Belmont  Telephone Company as
of December 31, 1999, and the related  statements of income,  retained  earnings
and cash  flows for the year then  ended.  These  financial  statements  are the
responsibility of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally  accepted auditing standards
and Government  Auditing  Standards,  issued by the  Comptroller  General of the
United  States.  Those  standards  require that we plan and perform the audit to
obtain reasonable  assurance about whether the financial  statements are free of
material  misstatement.  An audit includes examining,  on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audit  provides a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of Belmont Telephone Company as of
December 31, 1999,  and the results of its operations and its cash flows for the
year then ended in conformity with generally accepted accounting principles.

In accordance with Government Auditing  Standards,  we have also issued a report
on our consideration of the Company's internal control over financial  reporting
and our tests of its compliance with certain provisions of laws and regulations,
dated January 19, 2000.

SIEPERT & CO. LLP
Certified Public Accountants

Beloit, Wisconsin
January 19, 2000

<PAGE>


McGladrey & Pullen, LLP

Certified Public Accountants

                          INDEPENDENT AUDITOR'S REPORT

To the Board of Directors
Capital Communications Company, Inc.
Bronxville, New York

We have  audited  the  accompanying  balance  sheet  of  Capital  Communications
Company, Inc. as of December 31, 1997, and the related statements of operations,
stockholders'  equity (deficit),  and cash flows for the year then ended.  These
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is to express an opinion on these financial  statements based on
our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards  require that we plan and perform the audit to obtain reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of Capital Communications Company,
Inc. as of December 31,  1997,  and the results of its  operations  and its cash
flows for the year then ended in conformity with generally  accepted  accounting
principles.

McGladrey & Pullen, LLP

New York, New York

February 7, 1998 (except for the second paragraph of Note 5 as to which the date
    is March 25, 1998)

<PAGE>

McGladrey & Pullen, LLP

Certified Public Accountants

                          INDEPENDENT AUDITOR'S REPORT

To the Partners
Coronet Communications Company
Bronxville, New York

We have  audited  the  balance  sheet of  Coronet  Communications  Company as of
December 31, 1997, and the related  statements of operations,  partners' capital
(deficit),  and cash flows for the year then ended.  These financial  statements
are the responsibility of the Partnership's management. Our responsibility is to
express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards  require that we plan and perform the audit to obtain reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects,  the financial position of Coronet Communications Company
as of December 31, 1997,  and the results of its  operations  and its cash flows
for the year  then  ended  in  conformity  with  generally  accepted  accounting
principles.

McGladrey & Pullen, LLP

New York, New York
January 31, 1998


<PAGE>

Frederick & Warinner
--------------------
Certified Public Accountants, L.L.C.


                          INDEPENDENT AUDITOR'S REPORT

To the Board of Manager
CLR Video, L.L.C.
Wetmore, Kansas

We have audited the accompanying  balance sheet of CLR Video, L.L.C., (a limited
liability  company) as of December 31, 1997 and 1996, and the related statements
of operations,  members'  equity and cash flows for the years then ended.  These
financial  statements are the responsibility of CLR Video,  L.L.C.'s management.
Our responsibility is to express an opinion on these financial  statements based
on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards  require that we plan and perform the audit to obtain reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the  financial  position  of CLR Video,  L.L.C.  as of
December 31, 1997 and 1996, and the results of its operations and its cash flows
for the years  then  ended in  conformity  with  generally  accepted  accounting
principles.

Frederick & Warinner

Lenexa, Kansas
January 22, 1999

New York, New York