Local Insight Regatta Holdings Completes Acquisition of The Berry Company's Independent Line of Business From AT&T

ENGLEWOOD, Colo., April 24 /PRNewswire/ -- Local Insight Regatta Holdings, Inc. today announced that it has completed the previously announced acquisition of The Berry Company's Independent Line of Business (ILOB) from L.M. Berry and Company, a subsidiary of AT&T. The ILOB provides an integrated array of directory services, including sales, marketing, interactive sales support, ad design and composition services, to more than 80 Yellow Pages publishers throughout the country.

With the conclusion of this transaction, Local Insight Regatta Holdings provides outsourced Yellow Pages sales, marketing and production services to more than 160 telcos in the United States, covering more than 900 print directories. In connection with this transaction, Local Insight Regatta Holdings has also become an authorized reseller of advertising for AT&T's YELLOWPAGES.COM Network, a leading Internet Yellow Pages and local search site.

Dan Graham, who has served as The Berry Company's president and CEO since 2003, will become executive vice president and chief administrative officer at Local Insight Regatta Holdings. Kathy Geiger-Schwab, who has been The Berry Company's executive vice president since 1999, will join Local Insight Regatta Holdings as its chief strategy officer.

"With the completion of this transaction, we are creating a company that combines The Berry Company's 98-year legacy of performance, exceptional culture and strong processes with Local Insight's two-year history of innovation and entrepreneurship," said Scott Pomeroy, director of Local Insight Regatta Holdings. "By joining forces, we are uniquely positioned to transform our role from a directory publisher to a knowledgeable marketing consultant, advising small and medium-sized businesses on how best to generate leads -- and measure results -- in today's complex, on-demand environment. With our footprint of mid-tier and smaller markets, the power of The Berry Company's sales channel and a combined management team that is best-in-class, we have a rare opportunity to fundamentally redefine our business -- and the value we deliver to our customers, our advertisers and consumers."

In connection with this transaction, AT&T has retained its L.M. Berry South Central Area line of business, which manages AT&T's directory business in a five-state region (Alabama, Kentucky, Louisiana, Mississippi and Tennessee), and Berry Network Inc., the nation's second-largest certified marketing representative unit, which places print and Internet directory advertising for national businesses.

About Local Insight Regatta Holdings

Local Insight Regatta Holdings, Inc. is the parent of Local Insight Yellow Pages, Inc., the seventh largest yellow pages publisher in the United States, and The Berry Company LLC, a leading provider of outsourced Yellow Pages sales, marketing, interactive and production services. Local Insight Yellow Pages is a leading publisher of print and online directories in rural and certain suburban markets in 36 states located primarily in the Eastern, Midwestern and Southern United States. Local Insight Yellow Pages is the exclusive, "official" publisher of print and online directories for Windstream Corporation, the fifth largest telephone company in the United States. The Berry Company provides an integrated array of directory services, including sales, marketing, interactive sales support, ad design and composition services, to more than 80 Yellow Pages publishers throughout the country.

Local Insight Yellow Pages is a portfolio company of Welsh, Carson, Anderson & Stowe ("WCAS"), which is one of the largest and most successful private equity investment firms in the United States. Since its founding in 1979, WCAS has organized 14 limited partnerships with total capital of over $16 billion.