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infoUSA
Inc.
(Name
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Registrant as Specified In Its Charter)
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Limited Partnership I, L.P.
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Financial Partners, L.L.C.
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Contact: Arthur
B.
Crozier
Innisfree
M&A Incorporated
(212)
750-5833
DOLPHIN
CALLS ON infoUSA
TO PROVE ITS NEW FOUND COMMITMENT
TO
GOOD CORPORATE GOVERNANCE
Says
infoUSA Continues To Avoid The Real Issues
STAMFORD,
CONNECTICUT, May 17, 2006 - Dolphin Limited Partnership I, L.P. and Dolphin
Financial Partners, L.L.C., which together own 2.0 million shares, or 3.6%
of
infoUSA
Inc.
(NASDAQ: IUSA), today called upon infoUSA’s
Board to prove its new found “commitment to good corporate governance” by making
real changes, rather than misleading shareholders yet again.
infoUSA’s
recent letter to stockholders states that the infoUSA
Board
is “committed to the principles of good corporate governance.”
We
say to
Mr. Vinod Gupta and the full Board: Show Us!
Demonstrate
your newly discovered “commitment to good corporate governance” by:
· |
Reconstituting
the Special Committee to complete its review
|
· |
Eliminating
Mr. Vinod Gupta’s exclusive exemption from the Poison
Pill
|
· |
Eliminating
all related party and/or direct payments for the 80 foot yacht, jet
planes, residences, luxury cars,
etc.
|
· |
Holding
top management accountable for continued poor operating performance
and
missed targets
|
· |
Eliminating
further option grants to Mr. Vinod Gupta that expand his
control
|
· |
Eliminating
the repricing provisions in the stock option
plan
|
· |
Replacing
directors that have conflicts and/or ties to infoUSA
or its top management
|
· |
Bringing
down to earth your “larger than life” Chairman, as incumbent Director
George Haddix described Mr. Vinod
Gupta
|
While
we
would applaud a genuine death bed conversion to the principals of good corporate
governance, we believe that actions speak louder than words.
Unfortunately,
the full Board appears more focused on misleading than executing!
infoUSA’s
long record of poor operating performance and poor corporate governance is
highlighted further by their recent complaint about our analyses demonstrating
infoUSA’s
poor performance by professing ignorance of the data demonstrating such record.
Our
financial data, as previously noted, came from Bloomberg, a universally
recognized independent source. (As the corporate and investment community is
well aware and expects, these data exclude certain items, and these exclusions
are clearly footnoted by Bloomberg.)
Similarly,
you have suggested that one of our nominees is somehow the cause of a problem
at
a company, -- in
fact, he was brought in to solve the problem
-- as he
has done at other companies. These independent nominees are only serving to
benefit the infoUSA
unaffiliated stockholders. They have no ties to Dolphin or infoUSA
or
its management. We believe our nominees, Mick M. Aslin, Karl O. Meyer and Robert
O. Trevisani, if elected, will act to put infoUSA
on
the correct footing.
With
51%
of infoUSA’s
shares held by professional investors and institutions, including Dolphin,
it’s
more important than ever to vote on the crystal clear issues confronting
infoUSA’s
stockholders.
Dolphin
encourages all stockholders to visit its Web site www.iusaccountability.com
to learn
more about Dolphin’s nominees and their plan to build stockholder value and to
see important original documents involving Mr. Vinod Gupta and the infoUSA
Board,
obtained through Dolphin’s extensive books and records search under Delaware
Law.
Dolphin
urges all stockholders to VOTE the Blue proxy card today!
infoUSA
stockholders should sign, date and return the BLUE
proxy
card FOR
Dolphin’s nominees and by-law amendment at the upcoming Annual Meeting of
Stockholder on May 26, 2006. If you have any questions, or would like assistance
in voting your shares, please contact the company that is helping us with this
most important election, Innisfree M&A Incorporated, at
1-888-750-5834.