EX-99.1 2 ex99-1.htm PRESS RELEASE, DATED OCTOBER 8, 2007 ex99-1.htm
Exhibit 99.1
 
 
 MEDIA CONTACTS:
  Pam Joy
    (207) 642-7337
    pjoy@fairpoint.com
   
    Scott Tranchemontagne
    603-540-4380
    scott@montagnecommunications.com

 
PSNH SUPPORTS FAIRPOINT’S ACQUISITION OF VERIZON’S WIRELINE
OPERATIONS IN NEW HAMPSHIRE
 
CONCORD, NH (October 8, 2007)– FairPoint Communications, Inc. (NYSE: FRP) today announced that Public Service of New Hampshire (PSNH), the Granite State’s largest electric utility, has agreed to support FairPoint’s acquisition of Verizon’s wireline operations in New Hampshire.

PSNH had petitioned as an intervenor in the New Hampshire Public Utilities Commission review of FairPoint’s application to acquire Verizon’s landline operations in the state.  PSNH has agreed to a settlement with FairPoint, and PSNH and FairPoint Communications jointly will request the Commission’s approval of the settlement.
 
“PSNH is pleased to support FairPoint’s proposal to acquire Verizon’s wireline operations,” said Gary Long, PSNH president and chief operating officer.  “After meeting extensively with representatives of FairPoint, we are convinced that the company will be a strong and effective operational partner and will work side by side with PSNH in our communities as a responsible and responsive public utility.”
 
 “We are pleased to have the support of PSNH and look forward to working with its staff in New Hampshire once the transaction is complete,” said Gene Johnson, FairPoint’s chairman and CEO. “Our goal is to provide the best technology and the best service to our customers throughout northern New England.  PSNH shares this goal and we will work together with PSNH for the benefit of the citizens of New Hampshire.“
 
About FairPoint
FairPoint is a leading provider of communications services to rural and small urban communities across the country. 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 and small urban communities. Today, FairPoint owns and operates 30 local exchange companies located in 18 states offering an array of services, including local and long distance voice, data, Internet and broadband offerings. FairPoint is traded on the New York Stock Exchange under the symbol “FRP”.

This press release may contain forward-looking statements by FairPoint that are not based on historical fact, including, without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions and statements related to potential cost savings and synergies expected to be realized in the merger. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual
 

results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Such factors include those risks described from time to time in FairPoint’s filings with the Securities and Exchange Commission ("SEC"), including, without limitation, the risks described in FairPoint’s most recent Annual Report on Form 10-K on file with the SEC.  These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements.  All information is current as of the date this press release is issued, and FairPoint undertakes no duty to update this information.  Source: FairPoint Communications, Inc., www.fairpoint.com.

FairPoint has filed, and the SEC has declared effective, a registration statement in connection with the proposed merger.  FairPoint urges investors to read these documents and other materials filed and to be filed by FairPoint relating to the proposed merger because they contain and will contain important information.  Investors can obtain copies of the registration statement, as well as other filed documents containing information about FairPoint and the proposed merger, at www.sec.gov, the SEC’s website. Investors may also obtain free copies of these documents and FairPoint’s other SEC filings at www.fairpoint.com under the Investor Relations section, or by written request to FairPoint Communications, Inc., 521 E. Morehead Street, Suite 250, Charlotte, NC 28202, Attention: Investor Relations.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

 
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