Warwick Valley investor Lawrence Goldstein seeks more answers from company's board

By Lisa Kerner

Charlotte, N.C., April 2 - Warwick Valley Telephone Co. investor Lawrence J. Goldstein, affiliated with Santa Monica Partners, LP, submitted another letter to the company's board of directors.

In his latest letter, Goldstein noted the decline of the company's stock to $15.00, its lowest since 2003.

Goldstein asked "why is it that not one single key employee, or one executive, and not a so much as a single director has purchased any shares of stock in Warwick Valley Telephone company" since 2003.

The investor specifically pointed to directors Kelly C. Bloss, Douglas J. Mello and interim chief executive officer Thomas A. Gray, who have reportedly never purchased a single share of the company's stock.

The letter was included in a schedule 13D filing with the Securities and Exchange Commission.

Goldstein has been critical of Warwick's board for several weeks and urged the company to sell.

Santa Monica Partners beneficially own 114,689 shares, or 2.1%, and Lawrence J. Goldstein owns 130,889 shares, or 2.4%, of the Warwick, N.Y., communication services company's stock.

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