News Releases

NEW  YORK, October 26, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of FairPoint Communications, Inc. (the “company”) – ticker symbol FRP – should be suspended immediately.

This decision was reached in view of the company’s October 26, 2009, announcement that it and all of its subsidiaries filed voluntary petitions in U.S. Bankruptcy Court for the Southern District of New York for reorganization under Chapter 11 of the U.S. Bankruptcy Code. 

The company had previously fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading day period, as well as average global market capitalization over a consecutive 30 trading day period of at least $75 million and was in the process of submitting business plan materials for our review.

The company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the company of the NYSE Regulation staff decision.   The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

Company contact:
Brett Ellis

(866) 377-3747