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R.H. Donnelley CEO David Swanson Apologizes for Inaccurate Biography

Wednesday, September 13, 2006

Press release from the issuing company

CARY, N.C., Sept. 11 - R.H. Donnelley issued the following statement regarding an error made in two press releases surrounding David C. Swanson's educational background. Last week the company received an anonymous letter questioning Mr. Swanson's educational background. The company has identified two press releases issued by the company, one in 1999 and the other in 2002, which stated Mr. Swanson earned a degree from St. Cloud State University. In addition, the company discovered that a biographical paragraph of Mr. Swanson's on an older (pre-2003) version of its Web site also included the same information. While Mr. Swanson did attend that University from 1973 to 1976, he did not earn a degree. The company has determined that this error has never appeared in any document filed with the SEC or the NYSE. R.H. Donnelley is also conducting a thorough search to identify and correct any other instances where this error may have occurred. The Board of Directors has reviewed internal documents, including Mr. Swanson's original employment application from 21 years ago, which accurately states that he attended but did not graduate from St. Cloud State University. Swanson said, "This is a regrettable situation for which I accept full responsibility. I will work closely with R. H. Donnelley's Board and members of the management team to ensure that we have proper internal and external controls on information dissemination so that this inaccurate information does not appear again." The Board of Directors has accepted Mr. Swanson's statement and supports the company's efforts to clarify the information.

 

 

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