EXHIBIT 99
1. Southpaw Asset Management LP, a Delaware limited partnership ("Southpaw
Management"), Southpaw Holdings LLC, a Delaware limited liability company
("Southpaw Holdings"), Xxxxx Xxxxx, a citizen of the United States, and Xxxxxx
Xxxxxx, a citizen of the United States, may be deemed to own beneficially and
indirectly the shares of common stock, par value $0.001 per share ("Common
Stock"), of Primus Telecommunications Group, Incorporated (the "Company"),
beneficially owned by (i) Southpaw Credit Opportunity Master Fund LP, a Cayman
Islands limited partnership (the "Fund"; and together with Southpaw Management,
Southpaw Holdings, Xxxxx Xxxxx and Xxxxxx Xxxxxx, collectively, the "Reporting
Persons"), which sold 29,828 shares of Common Stock and now beneficially owns
867,541 shares of Common Stock, (ii) a separate managed account managed by
Southpaw Management (the "Managed Account 1"), which sold 2,439 shares of Common
Stock and now beneficially owns 70,948 shares of Common Stock, and (iii) another
separate managed account managed by Southpaw Management (the "Managed Account
2"; and together with the Managed Account 1, the "Managed Accounts"), which sold
733 shares of Common Stock and now beneficially owns 21,306 shares of Common
Stock. Southpaw Management is the investment manager of the Fund and the Managed
Accounts and, in such capacities, may be deemed to beneficially own the shares
of Common Stock and Warrants reported herein which are deemed beneficially owned
by the Fund and the Managed Accounts. Southpaw Management disclaims beneficial
ownership of the shares of Common Stock and Warrants reported herein except to
the extent of its pecuniary interest therein. Southpaw Holdings serves as the
general partner of Southpaw Management, and, in such capacity, may be deemed to
beneficially own the shares of Common Stock reported herein which may be deemed
beneficially owned by Southpaw Management. Southpaw Holdings disclaims
beneficial ownership of the shares of Common Stock and Warrants reported herein
except to the extent of its pecuniary interest therein. Xx. Xxxxx and Xx. Xxxxxx
are investment advisors of the Fund and managers of Southpaw Management, and, in
such capacities, may be deemed to beneficially own the shares of Common Stock
reported herein which may be deemed beneficially owned by Southpaw Management.
Xx. Xxxxx and Xx. Xxxxxx disclaim beneficial ownership of the shares of Common
Stock reported herein except to the extent of their pecuniary interest therein.
SOUTHPAW CREDIT OPPORTUNITIES MASTER FUND LP
BY: SOUTHPAW GP LLC,
ITS GENERAL PARTNER
BY: /S/ XXXXX XXXXX
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NAME: XXXXX XXXXX
TITLE: MANAGING MEMBER
SOUTHPAW ASSET MANAGEMENT LP
BY: SOUTHPAW HOLDINGS LLC,
ITS GENERAL PARTNER
BY: /S/ XXXXX XXXXX
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NAME: XXXXX XXXXX
TITLE: MANAGING MEMBER
SOUTHPAW HOLDINGS, LLC
BY: /S/ XXXXX XXXXX
-------------------
NAME: XXXXX XXXXX
TITLE: MANAGING MEMBER
BY: /S/ XXXXX XXXXX
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XXXXX XXXXX
BY: /S/ XXXXXX XXXXXX
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XXXXXX XXXXXX
