Exhibit 99.1


For Immediate Release

Covista Sells Selected Assets to PAETEC for Cash.
Will Use Proceeds to Significantly Accelerate Expansion of Core Business.


Wednesday May 26, 2004

CHATTANOOGA, TN --(BUSINESS WIRE)--May 26, 2004--Covista Communications, Inc.
(NASDAQ: CVST), a provider of bundled telecommunication services for residential
and small business customers, today announced that it has signed a definitive
agreement to sell selected commercial customers, switches and related facilities
to PAETEC Communications, Inc., a Fairport, New York based competitive local
exchange carrier (CLEC).

The transaction is expected to close during the second quarter of 2004 and is
subject to, among other conditions, obtaining the final necessary regulatory
approvals.

On closing, PAETEC shall be obligated to pay approximately $15.1 million in
cash, subject to final adjustment, based on a multiple of monthly operating
revenue of approximately $2.7 million associated with the selected customers,
assets and facilities. Payment is due in three installments with the majority
payable upon closing. In addition, PAETEC will assume leases for existing switch
facilities in New York and Philadelphia, as well as office locations in
Bensalem, PA and Paramus, NJ. Covista will also execute a Wholesale Service
Agreement to purchase $12 million of services from PAETEC over 24 months.

Mr. John Leach, Chief Executive Officer of Covista stated, "The funds from this
transaction will allow Covista to accelerate the expansion of our residential
bundled service offerings." Mr. Leach continued, "For the balance of 2004, we
plan to build on the momentum we have created by extending our local service
footprint to additional markets in the Northeast and Mid-Atlantic regions as
well as certain states in the Southeast. This transaction also improves our
efficiency by allowing us to consolidate all of our key operations into
Chattanooga. Additionally, we will refine our roll-out strategy related to
certain new technologies, including VOIP, in order to better serve the demands
of our customer base."

Mr. Brad Bono, Chief Operating Officer for PAETEC stated "Our integration team
is moving quickly to bring together the best from both companies in terms of
people, processes and technology. We remain confident that through these efforts
we will be able to achieve our goals."

About Covista:

Covista is a facilities-based provider of telecommunications services with a
substantial customer base, principally residential and small to medium sized
businesses. Its products and services include a broad range of voice, data and
Internet solutions, including long distance and toll-free services, local dial
tone and features, calling cards, frame relay, Internet access, VPN, directory
assistance and teleconferencing services. Covista currently owns and operates
switches in Chattanooga, Dallas and Minneapolis, as well as in New York City and
Philadelphia which are to be sold to PAETEC. Covista operates Network Operation;
call center and information technology facilities in Chattanooga to monitor its
switched network and to coordinate its various services. For information on
becoming a Covista customer, please telephone 800-805-1000 or visit the
Company's website at www.covista.com.
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Information relating to forward-looking statements:

This press release contains historical and forward-looking statements made
pursuant to the safe harbor provisions of the private securities litigation act
of 1995. Investors are cautioned that forward-looking statements such as
statements of the company's plans, objectives, expectations and intentions
involve risks and uncertainties. The cautionary statements made in this release
should be read as being applicable to all related statements wherever they
appear. Statements containing terms such as "believes," "expects," "plans,"
"projects," "intends," "estimates," "anticipates," or similar terms, are
considered to contain uncertainty and are forward-looking statements. The actual
results could differ materially from those discussed. Factors that could
contribute to such differences include: changes in market conditions and
increased competition from other telecommunications and internet service
providers; government regulations; the volatile and competitive environment for
internet telephony; advances in competitive products or technologies that could
reduce demand for services; availability of transmission facilities; management
of rapid growth; customer concentration and attrition; the ability to
successfully integrate acquired companies; the ability to successfully develop
and bring new services to market; inaccurate or incomplete assumptions on the
part of management; and other risks discussed in the company's SEC filings,
including form 10-k and form 10-q, which can be accessed at the SEC web site
at www.sec.gov.

Readers of this release should understand that it is not possible to predict or
identify all such risk factors. Consequently, this list should not be considered
a complete statement of all potential risks or uncertainties. Covista does not
assume the obligation to update any forward-looking statement, except as is
required by applicable law.


Contact:
Thomas Gunning
Corporate Secretary
Covista Communications, Inc.
Tel: (201) 599-6464
Fax: (201) 599-9017
E-mail: tgunning@covista.com
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