ATLANTA — July 21, 2010 — EarthLink, Inc. (NASDAQ:ELNK, news, filings) 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 September 21, 2010 to shareholders of record on September 7, 2010.
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 September 2, 2010. In addition, as a result of the adjustment, the Notes may be surrendered for conversion through September 1, 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
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.
“EarthLink. We revolve around you™.” As the nation’s Internet expert, Atlanta-based EarthLink has earned an award-winning reputation for outstanding customer service and its suite of online products and services. Serving millions of subscribers, EarthLink offers what every user should expect from their ISP: high-quality connectivity, minimal online intrusions and customizable features. Whether it’s dial up, high-speed Internet services like DSL and cable Internet, home phone service, Web hosting, or “EarthLink Extras” like home networking or security, EarthLink connects people to the power and possibilities of the Internet. Learn more about EarthLink by calling (800) EARTHLINK or visiting EarthLink’s Web site at www.EarthLink.net.