AT&T Updates Anticipated Completion Date for Acquisition of Centennial by AT&T

Dallas, Texas, Wall, New Jersey, September 14, 2009 -- AT&T* and Centennial Communications Corp. (NASDAQ: CYCL) announced today that, assuming timely satisfaction or waiver of all remaining closing conditions including receipt of the required regulatory approvals, they now anticipate the pending acquisition of Centennial by AT&T to be completed early in the fourth quarter of calendar year 2009. On November 7, 2008, the two companies entered into an agreement under which AT&T would acquire Centennial. Under the terms of the merger agreement, Centennial stockholders would receive $8.50 per share in cash.

The acquisition was approved by Centennial's stockholders in February 2009, but remains subject to approval by the Federal Communications Commission and to other customary closing conditions. The applicable waiting period for the Department of Justice review has expired; however, the parties are still discussing the transaction with the Department. Both AT&T and Centennial remain committed to closing the transaction, pursuant to the terms of the agreement, as soon as possible.

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*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

Source: AT&T