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Press release from GlobeNewswire (a Nasdaq OMX company)

Windstream, PAETEC Merger Receives FCC approval

Tuesday, November 22, 2011

Windstream, PAETEC Merger Receives FCC approval12:35 EST Tuesday, November 22, 2011LITTLE ROCK, Ark., Nov. 22, 2011 (GLOBE NEWSWIRE) -- Windstream Corp. (Nasdaq:WIN) announced today the Federal Communications Commission has approved its application to acquire PAETEC Holding Corp. The companies announced the transaction on Aug. 1. "This merger creates a $6 billion company with nationwide reach and continues Windstream's transformation to a next-generation communications and technology provider with a full suite of enterprise-focused solutions," said Jeff Gardner, Windstream president and CEO. Windstream now has received all regulatory approvals and expects to complete the transaction by Dec. 1.About Windstream Windstream Corp. (Nasdaq:WIN), headquartered in Little Rock, Ark., is an S&P 500 communications and technology solutions provider with operations in 29 states and the District of Columbia and about $4 billion in annual revenues. Windstream provides IP-based voice and data services, MPLS networking, data center and managed hosting services and communication systems to businesses and government agencies. The company also delivers broadband, digital phone and high-definition TV services to residential customers primarily located in rural areas and operates a local and long-haul fiber network spanning approximately 60,000 route miles. For more information about Windstream, visit www.windstream.com. The Windstream Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8314Cautionary Statement Regarding Forward-Looking Statements Windstream claims the protection of the safe-harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements regarding the completion of the acquisition and expected benefits of the acquisition, are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors. Factors that could cause actual results to differ materially from those contemplated above include, among others: receipt of required approvals of regulatory agencies; the possibility that the anticipated benefits from the acquisition cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of PAETEC operations into Windstream will be greater than expected; the ability of the combined company to retain and hire key personnel; and those additional factors under the caption "Risk Factors" in Windstream's Form 10-K for the year ended Dec. 31, 2010, and in subsequent Securities and Exchange Commission filings. In addition to these factors, actual future performance, outcomes and results may differ materially because of more general factors including, among others, general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. Windstream undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause Windstream's actual results to differ materially from those contemplated in the forward-looking statements should be considered in connection with information regarding risks and uncertainties that may affect Windstream's future results included in Windstream's filings with the Securities and Exchange Commission at www.sec.gov.CONTACT: Media Relations Contact: David Avery, 501-748-5876 david.avery@windstream.com Investor Relations Contact: Mary Michaels, 501-748-7578 mary.michaels@windstream.com