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."

About Dutchess Capital

Dutchess Capital is an investment manager which provides creative financing for public companies. Founded in 2000, funds managed by Dutchess have made over $200 million in direct investments in companies throughout North America, Europe and Asia.

For almost a decade, Dutchess has been a global leader in Equity Line Facilities (ELF) and has transacted in excess of $1.6 billion in such financings worldwide. The ELF is a flexible financing structure by which publicly traded companies can raise capital quickly, efficiently and with less dilution than most traditional offerings.

About Competitive Companies, Inc.

Competitive Companies, Inc. (CCI) is a Nevada Corporation with offices in San Antonio, Texas, Eau Clair, Wisconsin and Scottsdale, Arizona.  The Company began operations in 1998 to provide telecommunication services including data, voice and video to multiple dwelling units (MDU's) in tier one markets. As Congress passed "open access" legislation, larger capitalized organizations made it difficult for the Company to compete in that market. Thus, CCI refocused on rural communities nationwide to build and finance wired and wireless data and voice applications through a unique entity known as the "Broadband Innovation Fund" .  Additionally, the Company continually evaluates new products for rural markets based on technology convergence and customer demand.  These new services include a variety of bundled wireless IP applications for rural residence, business, and government consumers.  CCI has assembled a strong management team with extensive communications industry, financial, and business management experience. For more information on the Company, please visit http://www.cci-us.com.

Forward-Looking Statements:

This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

SOURCE Competitive Companies Inc.

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