Dex Media, Inc. to Begin Trading on The New York Stock Exchange Shares to Trade Under Ticker Symbol "DEX" DENVER, July 22 /PRNewswire-FirstCall/ -- Dex Media, Inc. (NYSE:DEX) will begin trading its common stock on the New York Stock Exchange (NYSE) on Thursday, July 22, under the new ticker symbol "DEX." The initial public offering of 53,061,224 shares of common stock will be priced at $19.00 per share. In the offering, 19,736,842 shares are being sold by Dex Media, Inc. and 33,324,382 shares are being sold by the selling shareholder. The underwriters have an option to purchase from the selling shareholder up to 7,959,000 additional shares to cover any over-allotments. Dex Media will not receive any of the proceeds from the sale of shares by the selling shareholder. Morgan Stanley, Lehman Brothers Inc. and Merrill Lynch & Co. served as joint book running managers for the offering, with Banc of America Securities LLC, Citigroup, Credit Suisse First Boston, Deutsche Bank Securities, Goldman Sachs & Co., JP Morgan and Wachovia Securities acting as co-managers. A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the final prospectus related to this offering may be obtained from: Morgan Stanley Attn: Prospectus Dept. 1585 Broadway New York, NY 10036 (212) 761-4000 Lehman Brothers Inc. 745 Seventh Ave. New York, NY 10019 (212) 526-7000 Merrill Lynch & Co. 4 World Financial Center New York, NY 10080 (212) 449-1000 Contacts: Investor Contact: Media Contact: Brooke Martellaro Pat Nichols (303) 784-1197 (303) 784-1555 About Dex Media, Inc. Dex Media, Inc. is the exclusive publisher of the official White and Yellow Pages directories for Qwest Communications International Inc. The company publishes 259 directories in the Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming. In 2003, after giving effect to the acquisition of Dex Media West, LLC, Dex Media, Inc. generated revenues of approximately $1.6 billion. Dex Media printed and distributed approximately 43 million print directories and CD-ROMs and served more than 400,000 local and 4,000 national advertisers in 2003. The company's leading Internet-based directory, DexOnline.com, is the most used Internet Yellow Pages in the states Dex Media serves, according to market research firm comScore. Safe Harbor for Forward-Looking and Cautionary Statements Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The following important factors could affect future results: continuing weakness in the U.S. economy; increased competitive pressure from other directory publishers or media companies; changes in interest rates or a reduction in the Companies' cash flow that could impair the Companies' ability to service its debt obligations; the Companies' high level of indebtedness; and risks related to the start-up of new print or Internet directories and media services. Other factors which could materially affect such forward-looking statements can be found in Dex Media's Registration Statement on Form S-1, including the risk factors. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward- looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Companies undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. DATASOURCE: Dex Media, Inc. CONTACT: Investors, Brooke Martellaro, +1-303-784-1197, or , or Media, Pat Nichols, +1-303-784-1555, or , both of Dex Media, Inc.

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