Regency Affiliates, Inc. Clarifies Fiber Optic Company Acquisition
STUART, Fla., Feb. 25 /PRNewswire/ -- On February 23, 2000, Regency Affiliates, Inc. (OTC Bulletin Board: RAFF) announced that it was well along in its acquisition of Knight Enterprises and that Knight has sales of approximately $20,000,000 in the State of Florida. Knight has completed 35,000 miles of fiber optic cable operations in Florida, North Carolina, South Carolina, Georgia and New York. Knight is currently negotiating a 7,000 mile project splicing fiber optic cable from New York to Texas out to California and back to New York. There are four publicly traded companies that compete with various parts of Knight Enterprises: Mastec and Dycon Industries (NYSE), Argus Holdings and International Fibercom (Nasdaq). However it is believed that no company provides all the services that Knight does. Knight's competitors listed above have an average PE of almost 40 times earnings. Please refer to Regency Affiliates' previous press releases, its website at www.regencyaffiliates.com , and its Form 10-K Annual Report for further information. Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in the Company's SEC filings.
SOURCE Regency Affiliates, Inc.
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