Exhibit 99.1

CONTACT:
Susan Burns
Citigate Sard Verbinnen
212-687-8080
sburns@sardverb.com

                    LEXENT SIGNS DEFINITIVE MERGER AGREEMENT
                   WITH CORPORATION OWNED BY MANAGEMENT GROUP

NEW YORK, JULY 10, 2003 - Lexent Inc. (OTCBB: LXNT) today announced that it has
entered into a definitive merger agreement with a newly formed entity owned by
members of Lexent's management, including Hugh J. O'Kane, Jr., Chairman of the
Board of Lexent, and Kevin M. O'Kane, Chief Executive Officer and Vice Chairman
of the Board of Lexent (the "Buying Group").

Pursuant to the merger, holders of all of the outstanding shares of common stock
of Lexent (other than shares of Lexent common stock owned by the acquirer) will
receive $1.50 per share in cash, an increase of $.25 or 20% of the initial offer
of $1.25 per share and an increase of 65% over the closing price of $.91 on
February 14, 2003, the date Lexent announced the Buying Group's initial offer of
$1.25 per share.

The transaction was approved by Lexent's Board of Directors. Rodman & Renshaw,
Inc., a New York based investment banking firm, served as financial advisor to
Lexent and provided its opinion to Lexent's Board of Directors that the
consideration to be paid in the merger is fair, from a financial point of view,
to the stockholders of Lexent (excluding the stockholders included in the Buying
Group).

The merger agreement contains customary fiduciary termination rights. The
closing of the merger is subject to various conditions, including the
negotiation and execution of a definitive settlement agreement with respect to
the lawsuits consolidated under the caption In Re Lexent Inc. Shareholder
Litigation currently pending in the Court of Chancery of the State of Delaware,
approval of the transaction by stockholders of the Company representing a
majority of the shares of common stock voting on the transaction (other than
shares owned by the Buying Group), regulatory approvals, absence of any pending
or threatened litigation related to the transaction and other customary
conditions to closing. Subject to these conditions, Lexent expects to complete
the merger transaction in the third quarter of 2003. Notwithstanding, there can
be no assurance that the conditions will be met and the transaction will be
consummated in the third quarter 2003 or at all.

Stockholder approval will be solicited by the Company by means of a proxy
statement, which will be mailed to stockholders upon the completion of the
required Securities and Exchange Commission ("SEC") filing and review process.
It is expected that the stockholders will be asked to vote on the merger
agreement at a meeting to be held in the third quarter of 2003, with the exact
timing dependent on the completion and review of the necessary filings by the
SEC.

As a result of the merger, Lexent will become a privately-held company.
Accordingly, upon closing, the registration of Lexent's common stock under the
Securities Exchange Act of 1934 will terminate and Lexent will cease filing
reports with the SEC.


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This announcement is neither a solicitation of a proxy, an offer to purchase nor
an offer to sell shares of Lexent. Lexent intends to file and deliver all forms,
proxy statements, notices and documents required under federal and state law
with respect to the merger, including a proxy statement filed with the SEC. Upon
completion of the SEC's review of the preliminary proxy materials to be filed by
Lexent with the SEC, Lexent will call a special meeting of stockholders to vote
on the merger and will mail to its stockholders definitive proxy materials.
Stockholders are advised to read Lexent's definitive proxy materials before
making any decisions regarding the merger because the definitive proxy materials
will contain important information regarding the merger. Stockholders may obtain
free copies of the proxy materials (when available) and other documents filed by
Lexent and the acquirer with the SEC at the SEC's web site at www.sec.gov. The
proxy statement and such other documents relating to Lexent may also be obtained
for free by contacting Lexent's principal executive offices, Three New York
Plaza, New York, New York 10004, Telephone Number: (212) 981-0700.

Lexent, its directors, executive officers and certain employees and members of
management, including Hugh J. O'Kane, Jr. and Kevin M. O'Kane, may be considered
participants in the solicitation of proxies from Lexent's stockholders in
connection with the transaction. These individuals may have interests in the
proposed transaction which may differ from or may be in addition to those of
Lexent's stockholders generally. Information regarding such persons and their
interests in Lexent is contained in Lexent's proxy statements and annual reports
on Form 10-K filed with the SEC and are available from the SEC's website or from
Lexent as described above. Additional information regarding those persons and
their interests in the transaction will be contained in the proxy materials
relating to the proposed transaction when they become available.

ABOUT LEXENT INC.

Leveraging more than fifty years of experience, Lexent (OTCBB: LXNT) is an
infrastructure services company that designs, deploys and maintains fiber optic,
electrical and life safety systems for telecommunications carriers and
enterprise organizations in some of the largest national metropolitan markets.
Supporting the above offerings, Lexent provides a full spectrum of project
management and specialized maintenance services to utility, telecommunications,
real estate, government and large enterprise customers. The Company has offices
in New York, Washington D.C, Long Island, and the states of New Jersey and
Florida. For news releases and additional information on the Company, see
Lexent's web site at http://www.lexent.net.

FORWARD-LOOKING STATEMENTS:

Except for historical information contained herein, the matters set forth in
this press release are "forward looking" statements (as defined in the Private
Securities Litigation Reform Act of 1995). These forward-looking statements may
be identified by the use of words such as "believes", "anticipates", "expects",
"intends", and other similar expressions. These statements are subject to risks
and uncertainties that could cause actual results to differ materially from
those anticipated. For example, the merger may not close as a result of closing
conditions not being satisfied or waived. Other risks are more fully outlined in
Lexent's registration statement on Form S-1 and other SEC filings, including
that the consummation of the transaction is subject to various conditions as set
forth herein.

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