EarthLink Declares Quarterly Dividend of $0.16 Per Share

Oct 20, 2010, 08:09 ET from EarthLink, Inc.

ATLANTA, Oct. 20 /PRNewswire-FirstCall/ -- EarthLink, Inc. (Nasdaq: ELNK) today announced that its Board of Directors has declared a quarterly cash dividend on its common stock in the amount of $0.16 per share to be paid on December 22, 2010 to shareholders of record on December 8, 2010.

About EarthLink

"EarthLink. We revolve around you™." A leading provider of IP services to consumers and businesses across the country, Atlanta-based EarthLink has earned an award-winning reputation for outstanding customer service and product innovation.  The company's New Edge Networks subsidiary provides MPLS services to business customers nationwide. Learn more about EarthLink by calling (800) EARTHLINK or visiting EarthLink's website at

Special Notice to Noteholders

Under the terms of the indenture governing EarthLink's outstanding 3.25% Convertible Senior Notes due 2026 (the "Notes"), EarthLink's payment of the cash dividend described above requires an adjustment to the conversion rate for the Notes, which adjustment will be effective December 6, 2010.  In addition, as a result of the adjustment, the Notes may be surrendered for conversion through December 3, 2010 for the consideration provided for in the indenture.

In order to convert a Note held in certificate form, a holder must (1) complete and sign a Conversion Notice in the form attached to the applicable indenture, with appropriate signature guarantee, on the back of the Note, (2) surrender the Note to the Conversion Agent, (3) furnish endorsements and transfer documents required by the Conversion Agent, (4) pay any accrued unpaid interest through the conversion date and (5) pay any tax or duty related to the conversion.  If a holder holds a beneficial interest in a Global Security, a converting holder must comply with the applicable procedures of the Depositary, The Depository Trust Company.

The Conversion Agent is Wells Fargo Bank, N.A.:

Wells Fargo Bank, N.A.,

Corporate Trust Services

MAC N9311-110

625 Marquette Avenue South

Minneapolis, MN 55479

Attention: Lynn Steiner

A separate notice with additional information is being delivered to registered holders of Notes, the Conversion Agent and the Trustee.

SOURCE EarthLink, Inc.