Windstream Creates New Holding/Parent Co.

Windstream (Nasdaq: WIN)today announced it has formed Windstream Holdings, Inc., which will become anew publicly traded parent company of Windstream Corp. and its subsidiaries.The new company will trade on the Nasdaq Stock Exchange under the existingWindstream ticker symbol "WIN" beginning Sept. 3, 2013.The new ownership design will enhance Windstream's corporate structure andprovide greater financial and strategic flexibility in the future. Inaddition, the new structure mirrors that of other companies in thetelecommunications industry.Effective at 4 p.m. EDT today, existing shares of common stock of WindstreamCorp. will convert into equivalent shares of Windstream Holdings, Inc. stockon a one-for-one basis. The conversion and exchange does not require anyaction by stockholders of Windstream.The existing Windstream board of directors and officers will oversee bothcompanies. There has been no change in Windstream's dividend practice as aresult of the creation of the holding company.