N@N

GLENTEL';s BOARD OF DIRECTORS RECOMMENDS 2-1 STOCK SPLIT

^{Published on 2011-03-14 04:21:13 - Market Wire}
 

BURNABY, B.C., March 14 /CNW/ - GLENTEL Inc. (TSX:GLN) announces that its Board of Directors is recommending that shareholders approve a two-for-one stock split at the company's Annual Meeting of Shareholders to be held on May 4, 2011. In addition to shareholder approval, the stock split is subject to regulatory approval. Upon completion of the stock split, the number of outstanding shares would double from approximately 11 million to approximately 22 million.

"We are pleased GLENTEL's increasing share price and shareholder value continue to reflect our strong current and future earnings generation," said Thomas Skidmore, president and chief executive officer of GLENTEL. "A two-for-one stock split should provide current shareholders and future investors a renewed opportunity to participate in the growth of GLENTEL at a lower price level."

Should the stock split be approved by GLENTEL's shareholders, subject to regulatory approvals the record date is expected to be May 18, 2011. Each shareholder of record would receive one additional common share for each common share then held. Subject to regulatory approvals, and pursuant to rules of the Toronto Stock Exchange, common shares of GLENTEL would commence trading on a divided basis at the opening of business on May 16, 2011, the second trading day preceding the record date.

About GLENTEL

GLENTEL (TSX: GLN) is a leading provider of innovative and reliable telecommunications services and solutions in Canada and the United States. Founded in 1963 and headquartered in Burnaby, BC, Canada, GLENTEL comprises three operating divisions - Retail Canada, Retail U.S. and Business - that service thousands of consumers and commercial communications customers. The company operates 435 retail locations: 287 stores across Canada, located primarily in retail malls and Costco Wholesale, as well as 148 stores in the United States. To its business and government customers, GLENTEL offers wireless service, rental equipment, satellite and terrestrial network systems, tower sites, and wireless asset monitoring. As the largest multi-carrier wireless retailer in Canada, it offers a choice of network carrier and wireless device or phone to Canadian consumers. GLENTEL operates its business under the trading names Glentel Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc. and SANS FIL etc., and Diamond Wireless - Verizon Premium Retailer in the U.S.

To secure a copy of GLENTEL's annual report or additional information, visit [ www.glentel.com ] or [ www.sedar.com ].