N E W S R E L E A S E

FOR IMMEDIATE RELEASE

DYCOM ANNOUNCES FISCAL 2003 THIRD QUARTER RESULTS AND PROVIDES GUIDANCE FOR THE NEXT TWO FISCAL QUARTERS

Palm Beach Gardens, Florida, June 2, 2003--Dycom Industries, Inc. (NYSE Symbol: "DY") announced its results today for the third quarter ended April 26, 2003. The Company reported net income for the quarter ended April 26, 2003 of $2.8 million, or $0.06 per common share, on total contract revenues of $139.7 million versus contract revenues of $169.8 million for the quarter ended April 27, 2002. This represents a year over year decrease of 17.7% in total contract revenues. On a generally accepted accounting principles (GAAP) basis, Dycom's reported net income for the quarter ended April 27, 2002 was $7.7 million, or $0.17 per common share. Earnings per common share for the period ending April 27, 2002, excluding a nonrecurring gain of $0.02 per common share due to the settlement of a federal employment tax issue relating to prior years, was $0.15 per common share.

For the nine months ended April 26, 2003 net income was $5.8 million, or $0.12 per common share. On a generally accepted accounting principles (GAAP) basis, Dycom's reported net loss for the nine months ended April 27, 2002 was $66.2 million, or $1.50 per common share. Net income for the nine-month period ending April 27, 2002, excluding a nonrecurring gain of $0.02 per common share due to the settlement of a federal employment tax issue relating to prior years and the $1.97 per common share charge for the cumulative effect of the adoption of SFAS No.142 relating to the accounting for goodwill and other intangible assets, was $19.8 million, or $0.45 per common share.

In evaluating the operating performance of its business for the three and nine month periods ended April 27, 2002, Dycom's management excluded certain gains and charges that are required by GAAP. The Company believes that presentation of net income and earnings per share excluding these items is beneficial to investors due to their unusual nature. Please see attached table for reconciliation of these financial measures to GAAP.

Dycom also announced its outlook for the remainder of fiscal 2003 and the first quarter of fiscal 2004. The Company currently expects revenue for the fourth quarter of fiscal 2003 to range from $150.0 million to $165.0 million and earnings per share to range from $0.15 to $0.20. For the first quarter of fiscal 2004, the Company currently expects revenue to range from $150.0 million to $165.0 million and earnings per share to range from $0.16 to $0.21

A Tele-Conference call to review the Company's results and address its outlook will be hosted at 9:00 a.m. (ET), Tuesday, June 3, 2003; Call 888-273-9890 (United States) or 612-332-0228 (International) and request "Dycom Earnings" conference call. A live webcast of the conference call will be available at http://www.dycomind.com. If you are unable to attend the conference call at the scheduled time, a replay of the live webcast will also be available at http://www.dycomind.com until Thursday, July 3, 2003.

Dycom is a leading provider of engineering, construction, and maintenance services to telecommunication providers throughout the United States. Additionally, the Company provides similar services related to the installation of integrated voice, data, and video local and wide area networks within office buildings and similar structures. Dycom also provides underground utility locating and mapping and electric utility construction services.

This press release contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. Such statements include, but are not limited to, the Company's expectations for revenues and earnings per share. These statements are based on management's current expectations, estimates and projections. Forward-looking statements are subject to risks and uncertainties that may cause actual results in the future to differ materially from the results projected or implied in any forward-looking statements contained in this press release. Such risks and uncertainties include: business and economic conditions in the telecommunications industry affecting our customers, continued deterioration in our customers' financial condition, the adequacy of our reserves and allowances for doubtful accounts, whether the carrying value of our assets may be impaired, the anticipated outcome of contingent events, including litigation, liquidity needs and the availability of financing, as well as other risks detailed in our filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information in this press release.