FairPoint Delivers on Vermont Broadband Commitment

 

 

 

News Release

Media Contact:
Sabina Haskell
(802) 658-7351
shaskell@fairpoint.com

Investor Relations Contact:
Lee Newitt
(704) 344-8150
lnewitt@fairpoint.com

Charlotte, N.C. (July 8, 2011) - FairPoint Communications, Inc. (NASDAQ: FRP), a leading provider of communications services, today announced that it met its regulatory broadband commitment in Vermont by the June 30, 2011 deadline. With this achievement, FairPoint now offers broadband service to more than 83 percent of its customers in Maine, more than 85 percent of its customers in New Hampshire and almost 90 percent of its customers in Vermont.


In meeting its Vermont commitment, FairPoint expanded broadband access to approximately 140 communities and neighborhoods in the state. The Vermont broadband buildout, along with the continued expansion efforts in Maine and New Hampshire, clearly demonstrate FairPoint's commitment to broadband as a growth strategy. FairPoint surpassed 300,000 high-speed Internet subscribers across its 18-state footprint during the second quarter of 2011.


"We are extremely pleased to have achieved this important milestone in Vermont," said Paul H. Sunu, CEO of FairPoint. "The high-speed Internet subscriber growth that began late last year continues," he added. "We could not have achieved our Vermont broadband goal and remained on track with our fiber-to-the-tower initiative without the hard work and dedication of the FairPoint team.


Editor's note: FairPoint was granted a temporary extension by the Vermont Public Service Board to complete the Vermont broadband expansion project in four locations due to the recent historic rainfalls and flooding in Grand Isle and Franklin counties.


About FairPoint


FairPoint Communications, Inc. (NASDAQ: FRP) (www.FairPoint.com) is a leading communications provider of high-speed Internet access, local and long-distance phone, television and other broadband services to customers in communities across 18 states. Through its fast, reliable data network, FairPoint delivers data and voice networking communications solutions to residential, business and wholesale customers. VantagePoint(sm), FairPoint's resilient IP-based network in northern New England, provides business customers a fast, flexible, affordable Ethernet connection. VantagePoint(sm) supports applications like video conferencing and e-learning. Additional information about FairPoint products and services is available at www.FairPoint.com.


Cautionary Note Regarding Forward-looking Statements


Some statements herein are known as "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements about the Company's plans, objectives, expectations and intentions and other statements contained herein that are not historical facts. When used herein, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward looking statements. 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, including the Company's plans, objectives, expectations and intentions and other factors. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date hereof. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made on related subjects in the Company's subsequent reports filed with the SEC.