- Has Court Approval to Access More than $300 Million of its Available Cash CARY, N.C., June 2 /PRNewswire-FirstCall/ -- R.H. Donnelley (OTC:RHDC), one of the nation's leading consumer and business-to-business local commercial search companies, announced that the company yesterday received court authority to continue business operations without interruption. Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Del., granted the company authority to access more than $300 million of its available cash to ensure continued supply of products to its more than 500,000 customers nationwide. "The relief granted yesterday ensures R.H. Donnelley can continue business as usual as we take steps to restructure the company's balance sheet and place R.H. Donnelley on a more solid financial foundation," said David C. Swanson, chairman and CEO of R.H. Donnelley. "All of our customers will continue to receive the premier products and service they deserve, and our suppliers will continue to have a strong business partner." Judge Gross also granted other customary "first day hearing" requests, including motions to continue paying employee wages and benefits and to honor obligations to the company's customers. R.H. Donnelley and its subsidiaries on May 28, 2009, filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to consummate a balance sheet restructuring. The company has reached an agreement in principle, with key creditor constituencies on the terms of a plan of reorganization that proposes to reduce debt by approximately $6.4 billion, eliminate approximately $500 million in annual interest expense and extend the company's bank maturities out to 2014. More information about R.H. Donnelley's restructuring is available at http://www.rhd.com/. Additionally, the company has set up a toll-free restructuring hotline at 866-889-6193. About R.H. Donnelley R.H. Donnelley Corporation (OTC:RHDC) is one of the nation's leading consumer and business-to-business local commercial search companies. The company delivers relevant search results for consumers and leads to small- and medium-sized businesses through its Dex-branded print yellow and white pages directories, Internet yellow pages site, mobile and voice search platforms as well as one of the largest pay-per-click ad networks in the U.S. It also operates the nation's leading business search engine and online directory through its Business.com subsidiary. For more information, visit http://www.rhd.com/ and http://www.dexknows.com/. Safe Harbor Provision Certain statements contained in this press release regarding R.H. Donnelley's future operating results or performance or business plans or prospects and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "intend," "should," "will," "would," "planned," "estimated," "potential," "goal," "outlook," "may," "predicts," "could," or the negative of such terms, or other comparable expressions, as they relate to R.H. Donnelley or its management, have been used to identify such forward-looking statements. All forward-looking statements reflect only R.H. Donnelley's current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to R.H. Donnelley. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause R.H. Donnelley's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements. Factors that could cause actual results to differ materially from current expectations include risks and other factors described in R.H. Donnelley's publicly available reports filed with the SEC, which contain a discussion of various factors that may affect R.H. Donnelley's business or financial results. Such risks and other factors, which in some instances are beyond R.H. Donnelley's control, include: our ability to generate sufficient cash to service our significant debt levels; our ability to comply with or obtain modifications or waivers of the financial covenants contained in our debt agreements, and the potential impact to operations and liquidity as a result of restrictive covenants in such debt agreements; our ability to refinance or restructure our debt on reasonable terms and conditions as might be necessary from time to time, particularly in light of the continuing instability in the global credit markets; increasing LIBOR rates; changes in directory advertising spend and consumer usage; regulatory and judicial rulings; competition and other economic conditions; changes in the Company's and the Company's subsidiaries credit ratings; changes in accounting standards; adverse results from litigation, governmental investigations or tax related proceedings or audits; the effect of labor strikes, lock-outs and negotiations; successful integration and realization of the expected benefits of acquisitions; the continued enforceability of the commercial agreements with Qwest, Embarq and AT&T; our reliance on third-party vendors for various services; and other events beyond our control that may result in unexpected adverse operating results. R.H. Donnelley is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet service providers. DATASOURCE: R.H. Donnelley CONTACT: Tom Becker, +1-646-335-5188 or +1-212-573-6100, or Tyler Gronbach, +1-919-297-1541, both for R.H. Donnelley Web Site: http://www.rhd.com/

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