text: On May 24, 2004, Local Number Portability (LNP) will be required in the Company’s local wireline service area. The 
  Company’s customers will be able to retain their existing wireline phone number and use it to obtain service from a 
  competing wireline or wireless provider in the service area. At this time, the Company cannot estimate the potential 
  impact on its telephone operations. If a significant number of customers disconnect the Company’s service, it will have 
  an adverse impact on the Company’s telephone operating results. 
  
  The Company’s revenue from fiber leases may be adversely impacted by further erosion in demand or in price 
  competition for these facilities. There is also the potential for additional bankruptcies of the Company’s customers. 
  The Company monitors each of its fiber lease customers closely to minimize the risk related to this business. 
  
  The Company operates the cable television system in Shenandoah County, Virginia. The Company has seen increased 
  competition from satellite providers that are larger and have cost advantages over the Company in the procurement of 
  programming. The continued success of the satellite television providers may have an adverse impact on the 
  Company’s cable television results. 
  
  The Company currently has a 12-month, $1.2 million contract with the Virginia Department of Transportation (VDOT) 
  to provide 511 Travel services in the I-81 corridor of Virginia. This contract expires in February 2005. VDOT has 
  recently requested a proposal for a three-year contract with two two-year extensions to extend 511 services to the entire 
  state. Although the Company plans to submit a proposal for the new VDOT contract, there is no certainty that the 
  Company will be selected to provide these services after the end of its current contract. 