Exhibit 99.1
Annual Meeting of Shareholders
May 8, 2001
[NTELOS LOGO]
Vision
. Target fastest growing industry segments
. Wireless PCS
. Local phone service
. Internet
. Focus on the mid-Atlantic region
. Target consumer and small to mid-size business
. Provide world class customer care and service
2000: A year of Transformation
Mergers & Acquisitions
. Merger with R&B Communications
. Acquisition of PrimeCo Virginia
. Acquisition of wireless PCS spectrum licenses in Pennsylvania
2000: A year of Transformation
Financing
. Strategic financial partner - Welsh, Carson, Anderson & Stowe
. $250 million in preferred equity
. $700 million in debt instruments
. Over $160 million in divestitures including, directory assistance operations,
communications towers and analog cellular assets
. Curtailment of common dividend
Transition Accomplishments
PrimeCo/ VA East
. New regional call center
. New "nStyle" Rate Plans
. Network interoperability
. Back office operations
. Migration to common billing system on schedule for July
5 Year Customer & Revenue Growth
[Graph]
1996 1997 1998 1999 2000
PCS Customers - 23,800 69,800 122,100 168,400
ILEC/CLEC Customers 43,400 45,500 48,900 59,300 72,500
Internet Customers 363 4,800 8,700 47,300 62,900
Total Revenue $56,400,000 $73,100,000 $108,100,000 $153,500,000 $185,300,000
NTELOS TODAY
. A digital PCS company focused on the mid-Atlantic region with integrated
communication service (Local telephone, Internet and DSL)
. A growth company
. Over one billion dollars in assets
. Nearly half a billion dollars in equity
. Facilities-based infrastructure
. Over 1,200 employees
. Synergies
Wireless PCS Highlights
. 11 million POPs
. 186,073 PCS customers
. Wholesale revenue growth
. 716 cell sites
. 4 digital mobile switching centers
. New "nStyle" rate plans
Wireless Overview
--Digital PCS Service Are
--PCS Licensed Area
[Map of Virginia and West Virginia, and
portions of North Carolina, Tennessee,
Kentucky, Pennsylvania, Maryland and
Ohio]
Wireline Milestones
. 52,000 ILEC access lines
. Leading ILEC service provider in Virginia
. 9 CLEC markets
. 23,700 CLEC access lines
. 58 dial-up Internet markets
. 63,700 Internet customers
. 16 DSL markets
. 2,050 DSL lines
Overview of Services
. PCS Licensed Area
. Digital PCS Service Area
. Internet Service Area
. PCS and Internet Service Area
. CLEC (Competitive Local Exchange Carrier)
. ILEC (Incumbent Local Exchange Carrier)
[Map of Virginia and West Virginia, and
portions of North Carolina, Tennessee,
Kentucky, Pennsylvania, Maryland and
Ohio]
Distribution Channels
. Retail stores
. 44 company-owned
. Direct sales force
. 223 retail representatives
. 60 account executives
. Indirect
. 350 agent locations
. Inside sales
[Photo: NTELOS retail store]
Organizational Structure
James S. Quarforth
Chief Executive Officer
Carl A. Rosberg J. Allen Layman
Executive Vice President Support Services President
Wireless Wireline
Sales Accounting Sales
Operations Customer Care Operations
Product Development Business Development Product Development
Engineering
Human Resources
Marketing
Information Technology
Financial Highlights
(In thousands, except per share amounts)
Amount of Percent
2000 1999 INC (DEC) INC (DEC)
Operating Revenues $113,519 $69,830 $ 43,689 62.6%
Operating Cash Flows 20,252 27,945 (7,693) (27.5)%
Operating Income (Loss) (20,238) 12,671 (32,909) (259.7)%
Income Applicable to 8,784 6,493 2,291 35.3%
Common Shares
Pro Forma Wireless
PCS Statistics
[Graph (dollars in millions) (customers in thousands)]
1Q00 2Q00 3Q00 4Q00 1Q01
Revenues $ 21.2 $ 23.8 $ 23.9 $ 23.1 $ 27.7
Customers 142 152 158 168 186
EBITDA ($8.9) ($4.5) ($5.6) ($10.1) ($7.0)
EBITDA Pre-COA $ 2.1 $ 5.2 $ 5.2 $ 2.7 $ 6.0
Financial Highlights
Condensed Consolidated Balance Sheets
(In thousands)
Unaudited December 31, December 31,
March 31, 2001 2000 1999
-------------- ----------- ------------
Assets
Current Assets $ 55,880 $ 71,530 $ 21,375
Restricted Cash 47,001 50,903 -
Investments and Advances to Affiliates 33,615 83,615 39,110
Property & Equipment, net 863,126 745,793 125,881
Other Assets 174,874 124,364 31,636
--------- --------- -------
Total Assets $ 1,174,496 $ 1,076,205 $ 218,002
========= ========= =======
Liabilities and Shareholders' Equity
Current Liabilities $ 75,109 $ 75,335 $ 19,096
Long-Term Debt 582,894 556,287 37,685
Deferred Taxes and Other Long-Term Liabilities 69,109 63,405 45,037
Redeemable Preferred Stock 251,593 246,906 -
Shareholders' Equity 195,791 134,272 116,184
--------- --------- -------
Total Liabilities and Shareholders' Equity $ 1,174,496 $ 1,076,205 $ 218,002
========= ========= =======
Pro Forma Wireless Statistics
[Graph (dollars in millions) (customers in thousands)]
1Q00 2Q00 3Q00 4Q00 1Q01
Revenues $17.6 $18.5 $19.0 $20.0 $22.4
Customers 121 128 130 135 141
EBITDA $7.20 $7.10 $7.60 $8.30 $9.80
Formula for Success
. Service portfolio
. Significant liquidity & financial flexibility
. Experienced management team and workforce
. Low cost structure