ITC^DeltaCom News Release

News Release

November 05, 2002
FOR IMMEDIATE RELEASE

CONTACT INFORMATION:

Investor Contacts
Douglas A. Shumate
Senior Vice President
Chief Financial Officer
706-385-8189 or
dshumate@itcdeltacom.com

Media Contact:
Monty Vest
Senior Manager
Marketing Communications
256-382-3949
mvest@itcdeltacom.com

ITC^DeltaCom STATEMENT

Investment by Welsh, Carson, Anderson & Stowe VIII, L.P.

WEST POINT, Ga. November 5, 2002 - ITC^DeltaCom, Inc., an integrated telecommunications and technology provider to businesses in the southern United States, announced that Welsh, Carson, Anderson & Stowe VIII, L.P., a private equity investment firm, has filed a statement with the Securities and Exchange Commission disclosing that it has become a major investor in the Company.

The filing indicates that Welsh, Carson acquired its equity stake as a result of the consummation on October 29, 2002 of the Company's plan of reorganization, in which holders of the Company's public notes received common stock in exchange for cancellation of their notes. Welsh, Carson has disclosed that it has acquired, directly or indirectly, 22,107,085 shares of common stock. This position represents 49.4% of the Company's outstanding common stock and approximately 44% of the Company's outstanding equity after giving effect to the outstanding convertible preferred stock on an as-converted basis.

As previously announced, the plan of reorganization eliminated $515 million in senior note and convertible subordinated note debt. Additionally, the Company obtained a new $30 million preferred equity investment to further strengthen the Company's balance sheet. The investors include Campbell B. Lanier, III and SCANA Corporation, who were both significant stockholders of ITC^DeltaCom before the reorganization.

"We believe this investment in ITC^DeltaCom further validates our position as a leader in the telecommunications industry. We welcome Welsh, Carson, Anderson, & Stowe as an investor," said Larry Williams, ITC^DeltaCom's chairman and chief executive officer.

ABOUT ITC^DeltaCom
ITC^DeltaCom, headquartered in West Point, Georgia, provides, through its operating subsidiaries, integrated telecommunications and technology solutions to businesses in the southern United States and is a leading regional provider of broadband transport services to other communications companies. ITC^DeltaCom's business communications services include local, long distance, enhanced data, Internet access, managed IP, network monitoring and management, operator services, and the sale and maintenance of customer premise equipment. ITC^DeltaCom also offers colocation, web hosting, and managed and professional services. The Company operates 35 branch offices in nine states, and its 10-state fiber optic network of approximately 9,980 miles reaches approximately 175 points of presence. ITC^DeltaCom has interconnection agreements with BellSouth, Verizon, Southwestern Bell and Sprint for resale and access to unbundled network elements and is a certified competitive local exchange carrier (CLEC) in Arkansas, Texas, and all nine BellSouth states. For additional information about ITC^DeltaCom, please visit the Company's website at www.itcdeltacom.com.

Statements contained in this news release regarding ITC^DeltaCom's expected financial condition and operating results, revenue growth, reorganization and other planned events and expectations are forward-looking statements that involve risks and uncertainties. Actual future results or events may differ materially from these statements. Readers are referred to the documents filed by ITC^DeltaCom with the Securities and Exchange Commission, including ITC^DeltaCom's annual report on Form 10-K filed on April 1, 2002, for a discussion of important risks that could cause actual results to differ from those contained or implied in the forward-looking statements. These risks, which are discussed in ITC^DeltaCom's filings under the heading "Risk Factors," include dependence on new product development, rapid technological and market change, dependence upon rights of way and other third party agreements, debt service and other cash requirements, liquidity constraints and risks related to future growth and rapid expansion. Other important risks factors that could cause actual events or results to differ from those contained or implied in the forward-looking statements include, without limitation, customer reductions in services, delays or difficulties in deployment and implementation of colocation arrangements and facilities, appeals of or failures by third parties to comply with rulings of governmental entities, inability to meet installation schedules, general economic and business conditions, failure to maintain underlying service/vendor arrangements, competition, adverse changes in the regulatory or legislative environment, and various other factors beyond ITC^DeltaCom's control. ITC^DeltaCom expressly disclaims any obligation to update any forward-looking statements whether to reflect events or circumstances occurring after the date hereof or otherwise.

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