Dex Media, Inc. Announces New Board Member R. Glenn Hubbard DENVER, July 22 /PRNewswire-FirstCall/ -- Dex Media, Inc. (NYSE:DEX) today announced the election of R. Glenn Hubbard to the Dex Board of Directors, where he will also serve as chair of the audit committee, to be effective as of the closing date of the initial public offering. A national expert in economics, public policy and corporate finance, Mr. Hubbard has nearly 25 years of experience that includes high-level appointments in academia, government and business. "We're honored to add such a highly regarded authority on economic policy to our Board of Directors," said George Burnett, President and CEO of Dex Media. "Glenn is a renowned voice in the economics and corporate finance arenas, and he will add a strong, independent voice to our Board. We look forward to working with him and benefiting from his substantial knowledge and experience." Currently, Mr. Hubbard is the Dean of the Graduate School of Business at Columbia University where he is also Co-Director of the Program on Entrepreneurship and a Professor of Finance and Economics. Mr. Hubbard served as Chairman of the U.S. Council of Economic Advisers under President George W. Bush from February 2001-2003, where his responsibilities included advising the President on economic policy, tax and budget policy, international finance, health care and environmental policy. Mr. Hubbard's experience also includes serving as chair of the Economic Policy Committee of the Organization for Economic Cooperation and Development and Deputy Assistant Secretary of the U.S. Treasury Department for Tax Policy. In addition to his responsibilities at Columbia, he is currently a research associate at the National Bureau of Economic Research and the director of the program on tax policy at the American Enterprise Institute in Washington, D.C. Mr. Hubbard, whose research spans tax policy, monetary economics, international finance and corporate finance, received his Ph.D. in economics from Harvard University and has taught at Northwestern University, Harvard University and the University of Chicago, as well as Columbia University. In addition to writing more than 90 articles in economics and finance, he is the author of a textbook on money and financial markets. 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. Web Site: http://www.dexonline.com/

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