Lightyear Network (LYNS)

Lightyear Network Solutions Inc was incorporated in 1997. The Company through its wholly owned subsidiaries, provides telecommunications services throughout the United States and Puerto Rico through a distribution network of authorized independent agents. In addition to long distance and local service, the Company currently offers telecommunications products and services including internet/intranet, calling cards, advanced data, conferencing, Voice over Internet Protocol (VoIP) services and wireless services. The Company also operates in Puerto Rico through its wholly-owned subsidiary, Lightyear Alliance of Puerto Rico, LLC, a Kentucky limited liability company, whose operations are insignificant. The Company is a licensed local carrier in 44 states and provides long distance service in 49 states. The Company delivers service to approximately 65,000 customer locations. It is is a telecommunications reseller and competes, both directly at the wholesale level and through agents, at the retail level. The Company is subject to regulatory requirements imposed by the Federal Communications Commission (FCC), state and local governmental agencies. Regulations by the FCC as well as state agencies include limitations on types of services and service areas offered to the public.