Fairpoint Communications 8-K Entry into a Material Definitive Agreement

Exhibit 99.1

($ in 000s)	2009E			2010E			2011E			2012E			2013E
Summary Income Statement:
Local Revenue	$	449,802		$	425,540		$	415,095		$	396,957		$	380,471
Access Revenue	464,610			461,824			506,345			548,728			566,512
Long Distance	167,102			164,620			175,175			171,730			168,719
Data Services	122,451			142,211			162,528			175,453			184,205
Ancillary Revenue	84,497			86,160			85,222			84,284			84,549
Total Revenue	1,288,461			1,280,355			1,344,365			1,377,151			1,384,456
Intercompany Revenue	(109,904		)	(118,633		)	(133,595		)	(142,190		)	(149,742		)
Net Revenue	1,178,556			1,161,722			1,210,770			1,234,961			1,234,714
Cost of Goods Sold	137,951			126,750			132,554			134,217			132,653
Total Operating Expenses	795,369			732,321			664,565			664,712			664,772
EBITDA from Operations	245,237			302,651			413,651			436,032			437,289
Transition Services Agreement	15,895			0			0			0			0
Systems Cutover Related Expenses	33,657			0			0			0			0
Restructuring	20,945			28,383			0			0			0
Other One-time Items	46,589			15,095			0			0			0
Adjusted Operating EBITDAR (1)	362,322			346,128			413,651			436,032			437,289

($ in 000s)	2009E		2010E		2011E		2012E		2013E
Summary Balance Sheet
Current assets:
Accounts receivable, net	$	185,215	$	182,667	$	187,593	$	190,860	$	188,305
Materials and supplies	35,341		35,341		35,341		35,341		35,341
Current liabilities:
Accounts payable	108,988		83,633		92,940		90,420		88,273
Other assets
Prepaid pension asset	10,770		12,670		14,570		16,070		17,170
Property, plant, and equipment, net	1,949,932		1,830,165		1,687,245		1,516,801		1,319,735
Other liabilities
Other accrued liabilities	53,290		59,290		59,290		59,290		59,290
Accrued pension liability	53,420		56,120		47,520		42,020		36,220
Employee benefit obligations	254,125		281,758		310,891		342,291		375,491

($ in 000s)	2010E			2011E			2012E			2013E
Unlevered free cash flow:
EBITDA from Operations	$	302,651		$	413,651		$	436,032		$	437,289
Less: Change in working capital	(22,807		)	4,381			(5,787		)	408
Less: Change in other balance sheet items	6,000			—			—			—
Plus: Cash collateral	0			0			0			0
Plus: Prepaid pension asset	(1,900		)	(1,900		)	(1,500		)	(1,100		)
Plus: Pension	2,700			(8,600		)	(5,500		)	(5,800		)
Plus: OPEB	27,633			29,133			31,400			33,200
Less: Cash Taxes	(1,000		)	(4,868		)	(10,684		)	(30,248		)
Less: Capital Expenditures	(199,711		)	(186,711		)	(168,711		)	(150,711		)
Illustrative unlevered FCF	113,566			245,087			275,250			283,039

(1)  Adjusted Operating EBITDAR is before adding back the impact of non-cash pension and OPEB expenses

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