HONOLULU, HAWAII — Hawaiian Telcom Holdco, Inc. (NASDAQ: HCOM) today announced plans to seek refinancing of its existing $300 million senior secured credit facility.  The proposed new credit facility would be used to refinance and extend the maturity of the Company’s existing $300 million term loan, which matures October 28, 2015.

“The credit markets appear to have improved and we believe conditions now are favorable for us to pursue refinancing of our existing credit facility under improved terms,” said Eric K. Yeaman, Hawaiian Telcom’s president and CEO.  “In addition, we believe our unaudited 2011 fourth quarter results support seeking a refinancing at this time.  Our preliminary unaudited fourth quarter results are in line with our expectations, showing revenue improvement over the prior quarter as well as margin improvement,” Yeaman added.

The Company’s year-end audit process is still ongoing so the preliminary results are subject to change. Actual results for the full-year 2011 and 2011 fourth quarter will become available on or about March 15, 2012 when the Company files its Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

Hawaiian Telcom Holdco, Inc., headquartered in Honolulu, is Hawaii’s leading provider of integrated communications solutions for business and residential customers. With roots in Hawaii beginning in 1883, the Company offers a full range of services including voice, video, Internet, data, wireless, and advanced communication and network services supported by the reach and reliability of its network and Hawaii’s only 24/7 state-of-the-art network operations center. With employees statewide sharing a commitment to innovation and a passion for delivering superior service, Hawaiian Telcom provides an Always OnSM customer experience.  For more information, visit www.hawaiiantel.com.

Submitted by Brian Tanner, Director, Investor Relations for Hawaiian Telcom

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