It has been approximately three weeks since we announced a definitive agreement to acquire certain wireless assets from Verizon Wireless in six states, specifically certain wireless networks and customers that were formerly part of Alltel. As this is a very important event for Atlantic Tele-Network (ATN) and its shareholders as well as for all of our operating companies and employees, we wanted to provide additional insight into the acquisition and reiterate the basic principles of our strategy.

First, we continue to expect the transaction to be completed in the third or fourth quarter of 2009, as previously announced, subject to the receipt of required consents and approvals of the Department of Justice and the Federal Communications Commission. Until that time, ATN and the Alltel Trust that manages the wireless assets to be acquired will continue to conduct their independent businesses as usual. We will communicate our integration plans after the transaction officially closes, but we wanted to reiterate here our commitment to the strategies and values that set us apart and how those principles will guide our operation of these assets and our relationship to our new employees and customers after the closing.

We Will Continue to Provide an Attractive Alternative to National Carriers

These new customers that we will gain through this transaction have always had the option to choose at least one of the very large, national carriers for service. ATN is decidedly not a national carrier and will not be replicating their one size fits all approach. Rather, the plans and differentiated service offerings currently enjoyed by these customers will stay in place. We believe that consumers want a choice, and we will ensure the resources, support and network quality to offer compelling alternatives.

We Are Acquiring a Business, Not Just a Customer Base

ATN has a decidedly different perspective from that of a national carrier. We believe that to win in these rural markets we need the full capability of a motivated and well-supported local employee base. We do not expect to undertake a massive "assimilation" into larger nearby operations, that would result in dislocation and staff reduction. We value the local knowledge and believe it is essential to attract and retain customers. We believe that the people behind these operations greatly contribute to the value of the assets we will acquire, and will continue to operate the businesses that we will acquire.