DAVEL COMMUNICATIONS, INC.
10120 Windhorst Road
Tampa, FL 33619
(OTCBB: DAVL.OB)
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD
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Marc S. Bendesky General Information: Media Contact:
Chief Financial Officer Alison Ziegler David Closs
(813) 628-8000 (212) 445-8432 (212) 445-8443
FOR IMMEDIATE RELEASE
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July 11, 2001
DAVEL COMMUNICATIONS, INC. ANNOUNCES
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RESIGNATION OF CHIEF EXECUTIVE OFFICER, RAYMOND A. GROSS;
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APPOINTMENT OF BRUCE W. RENARD PRESIDENT
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TAMPA, Florida - July 11, 2001 -- Davel Communications, Inc. (OTCBB: DAVL.OB),
the nation's largest independent provider of payphone services, today announced
that its Board of Directors has accepted the resignation of Raymond A. Gross,
the Company's Chief Executive Officer, who has resigned to pursue other
opportunities. Mr. Gross will remain as Chairman of the Company's Board of
Directors. The Board has elected Bruce W. Renard, Davel's Senior Vice President
of Regulatory/External Affairs/Human Resources, General Counsel and Corporate
Secretary, as President of the Company. Effective immediately, Mr. Renard will
oversee all operations of the Company.
Mr. Gross commented, "In the past year I have worked closely with Bruce and am
confident in his ability to lead Davel as we proceed with our restructuring and
pending merger with PhoneTel Technologies. Bruce's industry background will be
extremely valuable as the Company navigates the future challenges and
opportunities in the payphone industry."
Mr. Renard, age 47, joined Davel as Senior Vice President of Regulatory and
External Affairs and Associate General Counsel in December 1998, in conjunction
with Davel's acquisition of the Peoples Telephone Company. He has served as
General Counsel of Davel since July 1999. From February 1996 to December 1998,
Mr. Renard served in the positions of General Counsel and Executive Vice
President of Regulatory Affairs at Peoples Telephone and from January 1992 to
February 1996 was General Counsel and Vice President of Regulatory Affairs.
Prior to joining Peoples Telephone, Mr. Renard was engaged in private law
practice and consulting for the telecommunications industry. Mr. Renard has
also served as the Associate General Counsel for the Florida Public Service
Commission, overseeing key telecommunications policy initiatives
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Davel Communications, Inc.
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for the State. Mr. Renard serves as a director and Chairman of the Legal
Committee for the American Public Communications Council, the national trade
organization for the public communications industry, and as a director of
several state public communication trade organizations.
Mr. Renard added, "I am excited to serve as President of Davel and am looking
forward to consummating our merger with PhoneTel. I believe the improved
financial structure of the merged entity, combined with the expected realization
of meaningful synergies, operating efficiencies and quality enhancements, will
create a stronger competitor, better equipped to operate in today's challenging
industry environment."
Davel Communications, Inc. operates a system of payphones in 43 states and the
District of Columbia and provides value-added services to its customers
throughout the United States.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Certain of the statements contained herein may be, within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934, forward-looking statements (rather than historical facts) that are
subject to risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Davel Communications, Inc. to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. These uncertainties and other factors include, without limitation,
with respect to the company (i) a downturn in the public pay telephone industry
which is dependent on consumer spending and subject to the impact of domestic
economic conditions, changes in technology, increased use of wireless
communications, and regulations and policies regarding the telecommunications
industry; (ii) the ability to accomplish its strategic objectives with respect
to external expansion through selective acquisitions or internal expansion;
(iii) impairment of liquidity arising from the possible refusal by its lenders
to grant additional advances or waive potential future defaults under its debt
agreement; and (iv) changes in the dial-around compensation rate and the local
coin call rate. Any or all of these risks and uncertainties could cause actual
results to differ materially from those reflected in the forward looking
statements. These forward-looking statements are based on management's
expectations as of the date hereof, and neither company undertakes any
responsibility to update any of these statements in the future. Information on
significant potential risks and uncertainties is set forth more fully in the
Company's Annual Report on Form 10-K for the year ended December 31, 2000.
To receive further information about Davel Communications, Inc., via fax at no
charge,
dial 1-800-PRO-INFO and enter code DAVL.
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