CHICAGO, Dec. 20 /PRNewswire/ -- The Archipelago Exchange(SM) (ArcaEx(R)), the nation's first totally open, all-electronic stock exchange, today announced that Pegasus Communications Corporation, a provider of wireless Internet access to residential and enterprise customers, has listed exclusively its Class A common stock on ArcaEx. Pegasus Communications' Class A common stock has previously traded under the trading symbol "PGTV.PK" and will begin trading today on ArcaEx under the three character ticker symbol "XAN." "We are pleased to welcome Pegasus Communications to our steadily-growing roster of ArcaEx-listed companies," said Sam Long, Managing Director of ArcaEx's Corporate Client Group. "We look forward to serving as a fair and transparent marketplace for the company and its shareholders." "We are excited to list on an exchange that focuses on providing investors with access to a fair and efficient marketplace," said Marshall (Mark) Pagon, Chairman, CEO and President of Pegasus Communications. "Listing on ArcaEx offers Pegasus the opportunity to increase our awareness in the investor community." In addition to providing the advantages of electronic trading, ArcaEx enables NYSE-, Amex- and Nasdaq-listed companies and their investors to reap the benefits of ArcaEx's investor focused market structure. ArcaEx operates as an all-electronic auction market, with an open limit order book matching buyers and sellers directly based on simple price and time priority, leveling the playing field for all market participants. Currently over 230 companies are listed on ArcaEx. In addition to its own listings, the exchange trades all NYSE, Nasdaq, and Amex listed stocks. About ArcaEx Archipelago Holdings (PCX:AX) operates The Archipelago Exchange(SM) (ArcaEx(R)) the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange(R), American Stock Exchange(R), and ArcaEx(R). In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In 2004, Archipelago launched ArcaVision to provide corporate and trading clients with more transparent market data, analytical tools and access to market-wide and ArcaEx specific trading information. For more information please visit http://www.arcaex.com/. About Pegasus Communications Pegasus Communications Corporation provides wireless Internet access to residential and enterprise customers and has acquired or has rights to acquire the use of 2.5 GHz licenses covering approximately 8 million people in Texas, Oklahoma, Kansas, Arkansas, Nebraska and Illinois. Pegasus is also a licensee of 700 MHz spectrum covering in excess of 180 million people that will in the future enable the delivery of broadband communications to fixed and mobile users in major markets such as New York, Boston, Philadelphia, Pittsburgh, Cleveland, Detroit, Chicago, Miami, Tampa, Phoenix, San Francisco, Sacramento, Portland and Seattle. Forward-Looking Statements Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Archipelago's current expectations and involve risks and uncertainties that could cause Archipelago's actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Factors that could cause Archipelago's results to differ materially from current expectations include: general economic and business conditions, industry trends, competitive conditions, regulatory developments as well as other risks or factors identified in the Company's filings with the Securities Exchange Commission, including its Report on Form 10-K for the fiscal year ending December 31, 2004 and the Registration Statement on form S-4 filed by the NYSE Group, Inc., which was declared effective on November 3, 2005 and which is available on the Company's website at http://www.archipelago.com/. You should not place undue reliance on forward- looking statements, which speak only as of the date of this press release. Except for any obligation to disclose material information under the Federal securities laws, Archipelago undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this press release. DATASOURCE: The Archipelago Exchange CONTACT: Margaret Nagle, Archipelago, +1-312-442-7083; Howard Verlin, Pegasus Communications, +1-610-934-7050 Web site: http://www.archipelago.com/ http://www.arcaex.com/

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