Exhibit 99.1


[FAIRPOINT COMMUNICATIONS LOGO]


FOR IMMEDIATE RELEASE



               FAIRPOINT COMMUNICATIONS REVISES FIRST QUARTER 2005
                         EARNINGS PER SHARE INFORMATION


CHARLOTTE,  NC,  May 9,  2005  -  FairPoint  Communications,  Inc.  (NYSE:  FRP)
announced  today that it has revised its  previously  reported basic and diluted
earnings  per share for the three  months  ended March 31,  2005 from $0.32,  as
disclosed on May 4, 2005, to $0.46.

The basic and  diluted  earnings  per share  calculation  of $0.32 for the first
quarter of 2005 was based on the number of shares of common stock outstanding as
of March 31, 2005,  instead of the weighted  average  number of shares of common
stock  outstanding  during  such  period,  as  required  by  generally  accepted
accounting  principles  ("GAAP").  Basic and diluted  earnings per share for the
three months ended March 31, 2005  calculated in  accordance  with GAAP based on
the weighted  average number of shares of common stock  outstanding  during such
period was $0.46.

On February 8, 2005, FairPoint issued and sold 25 million shares of common stock
in a  public  offering  (the  "IPO")  which  significantly  changed  its  equity
capitalization.  FairPoint  believes that the  calculation  of basic and diluted
earnings per share based on the number of shares of common stock  outstanding as
of March 31, 2005 is more relevant given the  significant  change in FairPoint's
equity capitalization during such period as result of the IPO. Basic and diluted
earnings per share calculated  based on the number of shares  outstanding at the
end of a period (instead of a weighted average) is a non-GAAP  financial measure
(i.e., it is not a measure of financial  performance  under  generally  accepted
accounting  principles)  and  should  not be  considered  in  isolation  or as a
substitute for basic and diluted  earnings per share data prepared in accordance
with generally accepted accounting principles.

The revised earnings per share  information is also included in a Current Report
on Form 8-K/A filed today with the  Securities  and Exchange  Commission,  which
amends the Current Report on Form 8-K filed on May 6, 2005.


About FairPoint





FairPoint is a leading provider of communications  services to rural 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 communities.  Today, FairPoint owns and operates 27
rural local exchange  companies  (RLECs) located in 17 states.  FairPoint serves
customers with approximately 276,167 access line equivalents (voice access lines
and high  speed  data  lines,  which  include  DSL,  cable  modem  and  wireless
broadband) as of March 31, 2005 and offers an array of services, including local
and long distance voice, data, Internet and broadband offerings.


Source: FairPoint Communications, Inc. www.fairpoint.com

Investor Contact: Timothy W. Henry, (866) 377-3747, thenry@fairpoint.com
Media Contact: Jennifer Sharpe, (704) 227-3629, jsharpe@fairpoint.com



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