Investor Relations ~ Alaska Communications Systems

Frequently Asked Questions

Q. Where are ACS shares traded?

A. The company’s stock is traded on the Nasdaq Global Select Market under the symbol ALSK.

Q. How do I purchase stock in ACS?

A. ACS’ common stock can be purchased through any registered broker or through our direct stock purchase plan (see below).

Q. When was ACS’ initial public offering (IPO)?

A. Date of offering: November 1999
Number of shares offered: 10.0 million
Offering price: $14.00
Lead underwriters: Goldman Sachs & Co. and Donaldson, Lufkin & Jenrette
Other underwriters: CIBC World Markets, Deutsche Banc Alex. Brown, Hambrecht & Quist

Q. Does ACS pay dividends?

A.Yes. In October 2004, ACS announced its board of directors approved the initiation of a dividend policy. Since then, the board has declared the following quarterly dividends:

Dividend Number Announcement Date Ex-Dividend Date Record Date Payment Date Amount Paid
1 10/28/2004 12/29/2004 12/31/2004 1/19/2005 $0.185
2 3/21/2005 3/29/2005 3/31/2005 4/19/2005 $0.200
3 6/14/2005 6/28/2005 6/30/2005 7/20/2005 $0.200
4 9/16/2005 9/28/2005 9/30/2005 10/19/2005 $0.200
5 11/29/2005 12/28/2005 12/30/2005 1/18/2006 $0.200
6 2/23/2006 3/29/2006 3/31/2006 4/19/2006 $0.215
7 6/21/2006 6/28/2006 6/30/2006 7/19/2006 $0.215
8 9/15/2006 9/27/2006 9/29/2006 10/18/2006 $0.215
9 12/19/2006 12/27/2006 12/29/2006 1/17/2007 $0.215
10 3/21/2007 3/28/2007 3/30/2007 4/18/2007 $0.215
11 6/20/2007 6/27/2007 6/29/2007 7/18/2007 $0.215
12 9/18/2007 9/26/2007 9/28/2007 10/17/2007 $0.215
13 12/17/2007 12/27/2007 12/31/2007 1/16/2008 $0.215
14 3/14/2008 3/27/2008 3/31/2008 4/16/2008 $0.215
15 6/13/2008 6/26/2008 6/30/2008 7/16/2008 $0.215
16 9/15/2008 9/26/2008 9/30/2008 10/15/2008 $0.215

Future divided payments are subject to continued quarterly approval by ACS’ board of directors.

Q. Will dividend payments made in 2007 be treated as income or a return of capital?

A. Approximately 28.3577% of each dividend paid in 2007 is treated as return of capital and 71.6423% is treated as taxable qualified dividends. The table below shows the breakdown of each dividend paid during 2007.

Payable Date Total Distribution Per Share 100% Taxable Qualified Dividends
71.6423%
Return of Capital
28.3577%
1/17/2007 $0.215000 $0.154031 $0.060969
4/18/2007 $0.215000 $0.154031 $0.060969
7/18/2007 $0.215000 $0.154031 $0.060969
10/17/2007 $0.215000 $0.154031 $0.060969
  $0.860000 $0.616124 $0.243876


Q. Does ACS have a direct stock purchase plan and/or a dividend reinvestment plan?

A. Mellon Investor Services LLC, ACS’ transfer agent, administers a direct stock purchase plan and a dividend reinvestment program for the company. To find out more about these programs you may access the Company’s investor website at www.alsk.com (under “Investments” choose “ACS Direct”) or contact Mellon Investor Services LLC directly, toll-free within the United States and Canada at:
1-877-870-2426, or from outside the United States or Canada at:
1-201-329-8660.

Q. Who is ACS’ transfer agent?

A. ACS' transfer agent is:

Mellon Investor Services LLC - Stock Transactions
877-870-2426 (toll free)

Q. How do I transfer my stock or change my address with the transfer agent?

A.Contact the transfer agent.

Mellon Investor Services LLC – Stock Transactions
877-870-2426 (toll free)
www.melloninvestor.com

Q. Has ACS ever had a stock split?

A. No, ACS has never had a stock split.

Q. What is the CUSIP number for ACS?

A. The CUSIP number is 01167P101.

Q. Does ACS issue quarterly reports?

A. ACS files interim Form 10-Q with the SEC and distributes a press release that summarizes the quarterly earnings and financial performance. ACS also files an annual report on form 10-K after the 4th quarter.

Q. How do I obtain a copy of the company’s financial statements, such as an Annual Report, Form 10-K or Form 10-Q?

A. ACS’ applicable Annual Reports, Form 10-Ks, Form 10-Qs and other SEC reports are available for viewing on this Web site at www.alsk.com. In addition, investors can find SEC filings at www.sec.gov.

Q. When is ACS’ fiscal year-end?

A. ACS’ fiscal year-end is December 31.

Q. How many shares outstanding does ACS have?

A. As of October 26, 2007, ACS had approximately 42.8 million shares of common stock issued and outstanding.

Q. How many employees does ACS have?

A. As of September 30, 2007, ACS had approximately 1,001 employees.

Q. How can I find more information on ACS’ executive management and board of directors?

A. For more information on ACS' executive management team, visit the Management Team page. For profile information about ACS' board members, visit the Board of Directors page.

Q. Where is ACS located?

A. The company’s corporate office is located at:

600 Telephone Avenue
Anchorage, AK 99503-6091
Phone: (907) 297-3000

Q. Whom can I contact for further investor information?

A. Please contact:

Alaska Communications Systems
Investor Relations
600 Telephone Avenue
Anchorage, AK 99503-6091

Worldwide - 888.234.9383
In Alaska - 907.297.3000

E-mail: investors@acsalaska.com

Q. Who are ACS’ auditors?

A. ACS' auditors are:

KPMG LLP
701 W. 8th Ave, Suite 500
Anchorage, AK 99501
(907) 265-1200

Q. Who is ACS’ SEC Counsel?

A. ACS' SEC Counsel is:

Latham & Watkins LLP
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates