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R.H. Donnelley Stock to Trade Over the Counter

CARY, N.C., Dec. 31 /PRNewswire-FirstCall/ -- R.H. Donnelley Corporation, one of the nation's leading Yellow Pages and online local commercial search companies, announced today that The New York Stock Exchange (NYSE) has determined that the trading in the common stock of R.H. Donnelley should be suspended in view of the fact that the Company did not maintain a market capitalization of at least $25 million over a consecutive 30 trading day period as required by the continued listing standards. As a result of the suspension of the NYSE listing, R.H. Donnelley expects its common stock to begin trading over-the-counter (OTC) on the Pink Sheets beginning on January 2, 2009 under the symbol RHDC. Pink Sheets provides the leading inter-dealer electronic quotation and trading system in the OTC securities market.

The Company's operations remain healthy, and the NYSE listing suspension does not impair R.H. Donnelley's ability to continue to operate on a business as usual basis as well as invest in new and enhanced online platforms and capabilities.

About R.H. Donnelley

R.H. Donnelley connects businesses and consumers through its portfolio of print and interactive marketing solutions. Small- and medium-sized businesses look to R.H. Donnelley's experienced team of marketing consultants to help them grow their companies and drive sales leads. Consumers depend on the Company's reliable, local business content to deliver the most relevant search results when they are seeking local goods and services. For more information, visit www.rhd.com and DexKnows.com.

Safe Harbor Provision

Certain statements contained in this press release are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "intend," "should," "will," "would," "plan," "may," "could," or the negative of such terms, or other comparable expressions, as they relate to RHD or its management, have been used to identify such forward-looking statements. All forward-looking statements reflect only RHD's current beliefs and assumptions with respect to the matters discussed, and are based on information currently available to RHD. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause actual results to differ materially from the expectations expressed in, or implied by, these statements.

Factors that could cause actual results to differ materially from current expectations include risks and other factors described in RHD's publicly available reports filed with the SEC, which contain a discussion of various factors that may affect RHD's business or financial results. Such risks and other factors, which in some instances are beyond RHD's control, include: our ability to generate sufficient cash to service our significant debt levels; our ability to comply with or obtain modifications or waivers of the financial covenants contained in our debt agreements, and the potential impact to operations and liquidity as a result of restrictive covenants in such debt agreements; our ability to refinance our debt on reasonable terms and conditions as might be necessary from time to time, particularly in light of the recent instability in the credit markets; increasing LIBOR rates; changes in directory advertising spend and consumer usage; regulatory and judicial rulings; competition and other economic conditions; changes in the Company's and the Company's subsidiaries credit ratings; changes in accounting standards; adverse results from litigation, governmental investigations or tax related proceedings or audits; the effect of labor strikes, lock-outs and negotiations; successful integration and realization of the expected benefits of acquisitions; the continued enforceability of the commercial agreements with Qwest, Embarq and AT&T; our reliance on third-party vendors for various services; and other events beyond our control that may result in unexpected adverse operating results. RHD is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet service providers. This press release is being furnished to the SEC through a Form 8-K. The Company's next 10-Q report to be filed with the SEC may contain updates to the information included in this release.

SOURCE R.H. Donnelley Corp.

CONTACT: investors, James M. Gruskin, 1-800-497-6329;
or
media, Tyler D. Gronbach, +1-919-297-1541
both for R.H. Donnelley Corp.
Web Site: http://DexKnows.com http://www.rhd.com

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