Holding(s) in Company

FAIRPOINT GROUP PLC (the "Company")

Holding in company

23 July 2012

The Company was notified on 20 July 2012 that, following an acquisition of ordinary shares of 1p each in the Company ("Ordinary Shares"), Helium Special Situations Fund LP holds 1,825,000 Ordinary Shares. This represents approximately 4.35% of the Company's issued share capital (excluding the 1,666,667 Ordinary Shares held as treasury shares).

For further information, please contact:

Fairpoint Group Plc

Chris Moat, Chief Executive Officer 0844 826 1209

John Gittins, Finance Director

Shore Capital (Nominated adviser and broker)

Pascal Keane 0207 408 4050

Edward Mansfield

FTI Consulting

Paul Marriott 0207 269 7243

Laura Pope