History

The history of Shenandoah Telecommunications Company (Shentel; NASDAQ: SHEN) is one of progressive growth coupled with prudent fiscal management. What began as a small, non-profit telephone cooperative for farmers weathered the many cultural storms that wiped out thousands of other independent telcos. Today, Shentel’s footprint extends along the Mid-Atlantic and southeastern United States from Florida to Pennsylvania. Shentel is now an advanced telecommunications company with 13 distinct operating subsidiaries.

Timeline of History

1902 – Farmers Mutual Telephone System (FMTS) incorporated as non-profit to serve customers—all of whom owned stock in the business. Most telephones featured eight and 10-party lines.

1929-39 – Great Depression: One out of 10 telephones in the US was disconnected for non-payment and a number of independents went out of business.

1941 – As World War II brings prosperity, FMTS revenue more than doubles.

1958 – Local switchboards closed and moved to a new central switchboard.

1960 – Name changes to Shenandoah Telephone Company.

1969 – Revenue exceeds $1,000,000.

1980 – Shenandoah Telephone Company introduces cable TV service.

1981 – Shenandoah Telephone Company and Shenandoah Cable Television Company become subsidiaries of new holding company - Shenandoah Telecommunications Company (Shentel).

1984 – Shentel offers discounted long distance service and starts selling non-telephone equipment, including computers and alarm systems.

1984 – Starts fiber optic network and leases space.

1984 – Shenandoah Mobile Company formed to expand mobile and paging services. Voicemail service added in 1987.

1987 – Telephone service goes from analog to digital switching.

1987 – Shenandoah Long Distance Company formed. Within a year it captures 35% of the local market.

1988 – Shenandoah Network Company formed to provide fiber optic systems from Rockingham County north—through Virginia, West Virginia and Maryland, along Interstate 81, to the Pennsylvania line.

1990 – Shenandoah Cellular became the first company in the state of Virginia to offer cellular service to a rural area.

1994 – Internet service is made available.

1995 – Shentel enters into an agreement with American Personal Communications to become the first rural PCS provider in the US.

2002 – Shentel celebrates its 100th anniversary.

2004 – Shentel acquires NTC Communications for the purpose of becoming a leading provider of voice, video and Internet services to the Multi-Tenant Unit (MTU) housing market.

2004 – Milestone: 100,000th PCS customer.

2005 – Retail PCS customers increase 19.8%—third year of double-digit growth.

2006 – Milestone: 100 percent of local exchange subscribers have access to high-speed broadband service.