ELEC - Elec Communications Corp

Last Trade: 0.31
Trade Time: 3:38PM ET
Change: 0.00 (0.00%)
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Open: 0.33
Bid: 0.31 x 5000
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Day's Range: 0.30 - 0.35
52wk Range: 0.08 - 0.32
Volume: 292,500
Avg Vol (3m): 58,272
Market Cap: 5.04M
P/E (ttm): 0.66
EPS (ttm): 0.469
Div & Yield: N/A (N/A)

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eLEC Surpasses 20,000 Lines
Tuesday July 20, 1:34 pm ET

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--July 20, 2004--eLEC Communications Corp. (OTCBB:ELEC - News) today announced that it is providing local telephone services to more than 20,000 business and residential phone lines.
eLEC CEO Paul Riss stated, "We have been very successful in offering a bundled product to business and residential consumers. We now have more than 20,000 local lines, and with our continued growth, we anticipate that we will bill more than 22,000 lines by August 1, 2004. We ended our May 31, 2004 fiscal quarter with 13,955 lines, and since then have experienced growth of approximately 43% in less than a two-month period. Furthermore, we now have more lines than we had on December 31, 2002, when we sold the customer base of our former Essex Communications subsidiary to BiznessOnline.com. We believe that we are well on our way to executing our business plan by having fully replaced the lines sold to BiznessOnline.com with a higher margin customer base."

eLEC Communications Corp. is a Competitive Local Exchange Carrier that offers local, long distance and VoIP calling plans to small business and residential customers. We sell under the names of New Rochelle Telephone and eLEC Communications, delivering telephone services at a price savings and with quality customer service. For more information on our products and offerings, visit our web site at www.elec.net.

This release contains forward-looking statements that involve risks and uncertainties. eLEC's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, certain risks and uncertainties over which the company may have no control. For further discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the discussions contained in eLEC's Annual Report on Form 10-KSB for the year ended November 30, 2003, eLEC's Quarterly Report on Form 10-QSB for the quarters ended February 29, 2004 and May 31, 2004 and any subsequent SEC filings.

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Contact:
eLEC Communications Corp.
Paul H. Riss, 914-682-0214
phriss@elec.net

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