CCI Negotiates $10M Equity Line Financing From Dutchess Capital LLC

SAN ANTONIO, Nov. 1, 2010 /PRNewswire-FirstCall/ -- Competitive Companies Inc. (CCI) (OTC Bulletin Board: CCOP) announced today that it is entering into an Equity Line Financing Facility in the amount of $10,000,000 with Dutchess Opportunity Cayman Fund, Ltd.

During the 36-month term of the Equity Line Facility, Dutchess will be required at the option of CCI to purchase up to $10,000,000 of CCI common stock. Each drawdown will be priced based on the then-current stock price in accordance with an agreed-upon formula. CCI will control the timing and amount of any share sales to Dutchess. In accordance with SEC regulations, CCI will file an S-1 Registration allowing for the selling of the shares to Dutchess. William H. Gray, the CCI's Chief Executive Officer (CEO) negotiated the transaction in which no commissions or compensation is to be paid by CCI as a result of signing the Equity Line Facility.

"The completion of this $10 million facility with a well-established Investor such as Dutchess is a clear indication of investor optimism behind CCI's plan to complete its business objective of building and supporting the development of a 4G network in America's Heartland," said Gray.

CCI has already negotiated and signed a letter of intent with a multi-conglomerate utility cooperative in the State of Illinois comprising of more than 14,000 members. The equity line will assist CCI in completing its agreement with the multi-conglomerate cooperative. Dutchess has been successfully funding public companies through Equity Line Facilities for over ten years.

Douglas Leighton, Managing Director of Dutchess, stated, "We believe in management's efforts and this financing facility provides inexpensive and flexible access to capital for CCI. Regardless of the ever-tightening capital markets, Dutchess continues to finance the growth of public companies, regardless of their size."

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