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To: Jim Bishop who wrote (115092)	5/21/2003 6:08:26 PM
From: Taki	Respond to of 150070

ALGXQ,will be delisted.(PR NEWSWIRE) Allegiance Telecom Announces Delisting by Nasdaq Allegiance Telecom Announces Delisting by Nasdaq DALLAS, May 21 /PRNewswire-FirstCall/ -- Allegiance Telecom, Inc. (Nasdaq: ALGXQ), a facilities-based national local exchange carrier (NLEC), announced that it has been notified that its common stock will be delisted from The Nasdaq Stock Market, effective with the open of business on May 27, 2003. On May 14, 2003, Allegiance announced that it was pursuing its financial restructuring plans under Chapter 11 of the U.S. Bankruptcy Code. The Nasdaq letter, dated May 15, 2003, states that the Company's common stock will be delisted from The Nasdaq Stock Market in accordance with Marketplace Rules 4300 (giving broad authority to Nasdaq in terminating the listing of an issuer) and 4450(f) (giving the authority to Nasdaq to suspend or terminate the securities of an issuer that has filed for bankruptcy). The Nasdaq letter states that its determination is based on the following factors: the Company's bankruptcy filing and associated public interest concerns raised by it; concerns regarding the residual equity interest of the existing listed securities holders; and concerns about the Company's ability to sustain compliance with all requirements for continued listing on The Nasdaq Stock Market, including the minimum bid price rules. The letter also states that the Company is not in compliance with Marketplace Rule 4310(c)(13) as it has not yet paid its Listing of Additional Shares fee. The Company understands that its common stock may be eligible to trade on the NASD-regulated OTC Bulletin Board. Corporate Background Allegiance Telecom is a facilities-based national integrated communications provider headquartered in Dallas, Texas. As the leader in competitive local service for medium and small businesses, Allegiance offers "One source for business telecom(TM)" -- a complete package of telecommunications services, including local, long distance, international calling, high-speed data transmission and Internet services and a full suite of customer premise communications equipment and service offerings. Allegiance serves major metropolitan areas in the U.S. with its single source provider approach. SOURCE Allegiance Telecom, Inc. -0- 05/21/2003 /CONTACT: Media, Jerry Ostergaard, Director of Public Relations, +1-630-522-5261, or Investors, Andrew Albrecht, Vice President of Investor Relations, +1-404-475-4102, or Company, Thomas Lord, EVP of Corp. Develop. and CFO, +1-404-475-4100, all of Allegiance Telecom, Inc./ /Web site: allegiancetele.com / (ALGXQ) CO: Allegiance Telecom, Inc.; The Nasdaq Stock Market ST: Texas IN: TLS SU: BCY * end of story *