Exhibit 99.1

FAIRPOINT COMMUNICATIONS, INC.

FOR IMMEDIATE RELEASE

CONTACT: Timothy W. Henry
Telephone: (704) 344-8150
Email: Thenry@fairpoint.com

         FAIRPOINT COMMUNICATIONS, INC. ANNOUNCES INTENDED DEBT OFFERING

CHARLOTTE, N.C. (February 19, 2003) - FairPoint Communications, Inc.
("FairPoint") announced today that it intends to raise $225.0 million of
gross proceeds through a private placement of senior notes, subject to market
conditions. The notes will be offered within the United States only to
qualified institutional buyers pursuant to Rule 144A under the Securities Act
of 1933 (the "Securities Act"). The notes will have a seven year term and
interest will be paid semi-annually.

FairPoint stated that it intends to use the net proceeds to repay a portion
of the indebtedness under its credit facility and to repurchase certain
shares of its Series A Preferred Stock.

The securities to be offered have not been registered under the Securities
Act, or any state securities laws, and unless so registered, may not be
offered or sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. This press release does
not constitute an offer to sell or the solicitation of an offer to buy any
security and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offering would be unlawful.

About FairPoint

Headquartered in Charlotte, North Carolina, FairPoint is a leading provider of
telecommunications services in rural communities, offering an array of services
including local voice, long distance, data and Internet primarily to residential
customers. Incorporated in 1991, FairPoint's mission is to acquire and operate
telecommunications companies that set the standard of excellence for the
delivery of service to rural communities. Today, FairPoint owns and operates 29
rural exchange companies located in 18 states. FairPoint serves its customers
with more than 243,000 access lines.



Forward Looking Statements

The statements in this news release that are not historical facts are
forward-looking statements that are subject to material risks and
uncertainties. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance or results and involve
risks and uncertainties, and that actual results or developments may differ
materially from those in the forward-looking statements. These risks and
uncertainties include, but are not limited to, our high leverage, risks and
uncertainties relating to economic conditions and trends, acquisitions and
divestitures, growth and expansion, telecommunication regulation, changes in
technology, product acceptance, the ability to construct, expand and upgrade
its services and facilities, and other risks discussed in the reports that
FairPoint files from time to time with the U.S. Securities and Exchange
Commission. FairPoint does not undertake to update any forward-looking
statements in this news release or with respect to matters described herein.

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