
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, May 3, 1990                   TAG: 9005030173
SECTION: BUSINESS                    PAGE: C5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

CFW DIRECTORS APPROVE 2-FOR-1 STOCK SPLIT

Directors of CFW Communications Co., parent of Clifton Forge-Waynesboro Telephone Co., have approved a 2-for-1 stock split for each share owned on May 4.

The split recognizes the company's potential gain of $3.5 million from sale of its investment in Telecom-USA. MCI plans to acquire Telecom, an Atlanta company.

CFW owns 186,567 shares of Telecom stock, to be purchased at $42 per share. If approved by Telecom shareholders and regulatory bodies, the gain from the Telecom shares will amount to 62 cents for each CFW share after the split, the company said. - Staff report

by CNB