All record holders will receive the declared distribution and all subsequently declared periodic distributions in the year 2000 in cash. Citizens Utilities provides telecommunications services and public services including gas distribution, electric distribution, water distribution and wastewater treatment services to approximately 1.9 million customers in 22 states. Earlier this year, Citizens announced that it was acquiring 900,000 telephone access lines in 11 states from GTE and U S WEST, and that it was divesting its public services businesses.
Citizens plans to use the proceeds from the divestitures to fund the acquisitions.
This document contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These and all forward-looking statements are only predictions or statements of current plans that are constantly under review by the company. All forward-looking statements may differ from actual results because of, but not limited to, changes in the local and overall economy, changes in market conditions for debt and equity securities, the nature and pace of technological changes, the number and effectiveness of competitors in the company's markets, success in overall strategy, weather conditions, changes in legal or regulatory policy, changes in legislation, the company's ability to identify future markets and successfully expand existing ones and the mix of products and services offered in the company's target markets. The company does not intend to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances. All rights reserved.