Frontline Series B Preferred Stock Plan of Compliance Accepted by the American Stock Exchange; Common Stock Listing Not Affected.Business Editors PEARL RIVER Pearl River, uninc. village (1990 pop. 15,314), Rockland co., SE N.Y., near the N.J. line. It is a residential suburb of New York City, and a computer and telecommunications research and development center. Pearl River River, central Mississippi, U. , N.Y.--(BUSINESS WIRE)--March 31, 2003 Frontline Communications Corp. (AMEX AMEX See: American Stock Exchange : FNT FNT Font (File Name Extension) FNT Front FNT Fontana (postal locality, Malta) FNT Fascinating New Thing (song) FNT Flint, MI, USA - Bishop Int'l Airport ), www.fcc.net, received notice from the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (AMEX) that its Series B Convertible Redeemable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. ("Preferred Stock") is below certain of the Exchange's continued listing standards because the aggregate market value of that Preferred Stock has been less than $1,000,000 for more than 90 consecutive days, as set forth in Section 1003(b)(iii)(B) of the Amex Company Guide. The Company recently submitted a plan of compliance to the Exchange, and on March 19, 2003, was notified by AMEX that the plan was accepted. The Company was granted an extension of time to allow for the Preferred Stock to regain compliance with the continued listing standards. During this extension period, the Company will be subject to periodic review by Exchange staff. Failure of the Preferred Stock to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company's Preferred Stock being delisted from the American Stock Exchange. The notice received from AMEX related only to the continued listing of the Company's Preferred Stock. AMEX has not issued any such notices with respect to the Company's common stock. About Frontline Founded in 1995, Frontline Communications Corporation provides high-quality Internet access and Web hosting services to homes and businesses nationwide. Frontline offers Ecommerce, programming, and Web development services through its PlanetMedia group, www.pnetmedia.com. Frontline is headquartered in Pearl River, New York Pearl River is a hamlet (and a census-designated place) in Rockland County, New York, United States. The population was 15,553 at the 2000 census. Pearl River is in the western part of the Town of Orangetown. , and is traded on the American Stock Exchange. The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, the ability to successfully consummate the proposed acquisition of Provo, and, if consummated, the ability to successfully integrate Provo's ' business into Frontline, changes in the market for Internet services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation Currency devaluation A deliberate downward adjustment in the official exchange rates established, or pegged, by a government against a specified standard, such as another currency or gold. , foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The words "intend," "expect," "should," "project," and "anticipate," and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward looking statements which speak only as of the date they were made. |
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