Talk America Completes Acquisition of LDMI Telecommunications

7/28/2005

SOUTHFIELD, MI / NEW HOPE, PA - LDMI Telecommunications, Inc. (“LDMI”), a facilities-based communications provider serving business customers in Michigan and Ohio, was acquired by Talk America Holdings, Inc. (Nasdaq: TALK). The acquisition of LDMI enhances TALK’s customer density in its core Michigan market and enables TALK to complement its strong consumer franchise with a presence in the small and medium-size business market. Primus, along with the other investors in LDMI, received both cash and TALK stock as part of the transaction.

Founded in 1983, Primus is a private equity firm established to invest in growth capital opportunities, recapitalizations and management-led buyouts. Primus typically invests between $10 million and $25 million per transaction targeting companies with proven business models and superior growth prospects. Although experienced in a number of industries, Primus places an increased emphasis on the business services, healthcare, for-profit education and communication sectors. Primus is comfortable in making control and minority investments, as well as using financial leverage in a transaction, where appropriate.