Business News

R.H. Donnelley Elects to Exercise Grace Period for Pending Interest Payment

Thursday 16. April 2009 - Company continues discussions with bondholders and banks on restructuring plan

R.H. Donnelley, one of the nation’s leading local commercial search companies, today said that it would exercise a 30-day grace period on $55 million in interest payments due today on R.H. Donnelley Corp.’s Senior Unsecured Notes, while it continues to work on its previously announced plan to restructure all of the company’s long-term debt.

The company said that the missed interest payment does not constitute an event of default under the bond indenture or any of its other debt agreements unless R.H. Donnelley fails to make the payment within 30 days of the due date, absent an extension.

The company continues to have discussions with its bondholders and major banks about a debt restructuring plan. While the company remains optimistic that it can successfully restructure its balance sheet, there can be no guarantee in this economic environment.

The company will have no further comment at this time about this matter beyond what is contained in this press release.