Quanta Services Announces Initial Stock Repurchase Program

Company to Repurchase Up to $75 Million Of Common Stock



Apr 10, 2001, 01:00 ET from Quanta Services, Inc.

    HOUSTON, April 10 /PRNewswire/ -- Quanta Services, Inc. (NYSE:   PWR), a
 leading provider of specialized contracting services delivering end-to-end
 network solutions for the telecommunications, cable television and electric
 power industries, announced today that its Board of Directors has authorized
 an initial Stock Repurchase Program under which up to $75 million of the
 Company's common stock may be repurchased.
     Commenting on the repurchase plan, John Colson, Quanta Services' Chief
 Executive Officer, stated, "The Board's unanimous decision to adopt this
 initial stock repurchase program reflects our continued commitment to
 enhancing stockholder value.  We believe the repurchase of our stock
 represents a compelling investment opportunity and is a prudent use of our
 capital."
     Under the stock repurchase plan, the Company may conduct purchases through
 open market transactions in accordance with applicable securities laws. The
 amount of shares purchased and the timing of any purchases will be based on a
 number of factors, including the number of shares needed for replenishment of
 employee benefit plans, the market price of the stock, market conditions, and
 as the company's management deems appropriate.  As a result of these factors,
 the actual number of shares to be repurchased cannot be determined at this
 time.
 
     Quanta Services, Inc. is a leading provider of specialized contracting
 services, delivering end-to-end network solutions for telecommunications,
 cable television and electric power industries.  The Company's comprehensive
 services include designing, installing, repairing and maintaining network
 infrastructure.  Quanta Services performs projects nationwide from principal
 offices in 40 states.
 
     This press release contains various forward-looking statements and
 information that are based on management's belief as well as assumptions made
 by and information currently available to management, including statements
 regarding the effect of a stock repurchase on shareholder value and the
 prudence of using capital to repurchase stock.  Although the Company believes
 that the expectations reflected in such forward-looking statements are
 reasonable, it can give no assurance that such expectations will prove to have
 been correct.  Should one or more of these risks materialize, or should
 underlying assumptions prove incorrect, actual results may vary materially
 from those expected.  For a discussion of the risks, investors are urged to
 refer to the Company's reports filed under the Securities Exchange Act of
 1934.
 
     Contact:  James H. Haddox, CFO of Quanta Services, Inc., 713-629-7600; or
                Ken Dennard, kdennard@easterly.com, or Lisa Elliott,
                lisae@easterly.com, both of Easterly Investor Relations,
                713-529-6600.
 
 

SOURCE Quanta Services, Inc.
    HOUSTON, April 10 /PRNewswire/ -- Quanta Services, Inc. (NYSE:   PWR), a
 leading provider of specialized contracting services delivering end-to-end
 network solutions for the telecommunications, cable television and electric
 power industries, announced today that its Board of Directors has authorized
 an initial Stock Repurchase Program under which up to $75 million of the
 Company's common stock may be repurchased.
     Commenting on the repurchase plan, John Colson, Quanta Services' Chief
 Executive Officer, stated, "The Board's unanimous decision to adopt this
 initial stock repurchase program reflects our continued commitment to
 enhancing stockholder value.  We believe the repurchase of our stock
 represents a compelling investment opportunity and is a prudent use of our
 capital."
     Under the stock repurchase plan, the Company may conduct purchases through
 open market transactions in accordance with applicable securities laws. The
 amount of shares purchased and the timing of any purchases will be based on a
 number of factors, including the number of shares needed for replenishment of
 employee benefit plans, the market price of the stock, market conditions, and
 as the company's management deems appropriate.  As a result of these factors,
 the actual number of shares to be repurchased cannot be determined at this
 time.
 
     Quanta Services, Inc. is a leading provider of specialized contracting
 services, delivering end-to-end network solutions for telecommunications,
 cable television and electric power industries.  The Company's comprehensive
 services include designing, installing, repairing and maintaining network
 infrastructure.  Quanta Services performs projects nationwide from principal
 offices in 40 states.
 
     This press release contains various forward-looking statements and
 information that are based on management's belief as well as assumptions made
 by and information currently available to management, including statements
 regarding the effect of a stock repurchase on shareholder value and the
 prudence of using capital to repurchase stock.  Although the Company believes
 that the expectations reflected in such forward-looking statements are
 reasonable, it can give no assurance that such expectations will prove to have
 been correct.  Should one or more of these risks materialize, or should
 underlying assumptions prove incorrect, actual results may vary materially
 from those expected.  For a discussion of the risks, investors are urged to
 refer to the Company's reports filed under the Securities Exchange Act of
 1934.
 
     Contact:  James H. Haddox, CFO of Quanta Services, Inc., 713-629-7600; or
                Ken Dennard, kdennard@easterly.com, or Lisa Elliott,
                lisae@easterly.com, both of Easterly Investor Relations,
                713-529-6600.
 
 SOURCE  Quanta Services, Inc.