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Dex Media: Dallas, November 5, 2015

The following excerpt is from the company's SEC filing.

Dex Media, Inc. (NASDAQ:DXM), one of the largest national providers of social, local and mobile marketing solutions to local businesses, today announced it has entered into a forbearance agreement with lenders under its senior secured credit facilities. The agreement is effective through November 23, 2015, pending certain conditions.

In addition, the Company announced it has received a term sheet and restructuring support agreement (RSA) from the ad hoc committee of lenders holding more than 50% of its senior secured credit facilities. The Company and its advisors are reviewing the term sheet and RSA, and are continuing negotiations with the Companys lenders with a goal of agreeing on terms of a consensual restructuring.

Constructive discussions with our lenders over the past few months have now led to a term sheet and restructuring support agreement. The forbearance agreement provides additional time to agree on a plan to restructure our debt facilities, said Joe Walsh, Dex Media President and CEO. We remain focused on implementing our long term business plan and putting in place the right strategic, operational and financial structure to support our business for many years to come.

As previously announced, the Company elected to take advantage of a 30-day grace period to make an interest payment due on its senior subordinated notes, which was due on September 30, 2015. The Company did not make the interest payment within the grace period, and as a result, the Companys bondholders have declared the senior subordinated notes to be immediately due and payable.

The Companys liquidity position remains strong, with a cash balance of approximately $205.3 million as of October 30, 2015, and its employees, clients and vendors should see no disruption to current operations as a result of this announcement.

About Dex Media

Dex Media (NASDAQ: DXM) is a full-service media company offering integrated marketing solutions that deliver measurable results. As the marketing department for hundreds of thousands of local businesses across the U.S., Dex Media helps them win, keep and grow their customer base. The companys widely used consumer services include the DexKnows.com® and Superpages.com® search portals and applications as well as local print directories. For more information about the company, please visit www.DexMedia.com.

Forward-Looking Statements

Some statements included in this release constitute forward-looking statements...


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