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Mpower Holding Defers Dividend on Preferred Shares and Schedules Third Quarter Earnings Conference Call

ROCHESTER, NY - October 19, 2001- Mpower Holding Corporation (NASDAQ: MPWR), the parent company of Mpower Communications, a provider of broadband high-speed Internet access and telephony services to business customers, today announced that it will defer declaring at this time the quarterly 7.25% dividend on its Series D convertible preferred shares scheduled for payment on November 15, 2001.

Third Quarter Earnings Notification
Mpower Holding Corporation will hold a public conference call to discuss its third quarter results on Thursday, November 8, 2001 at 10:00 a.m. eastern. To access the call, dial 1-888-293-2006 and reference "Mpower Third Quarter 2001 Results."

A replay of the call will be available from Thursday, November 8, 2001 at 12:00 p.m. eastern through Thursday, November 15, 2001 at 12:00 p.m. eastern by dialing 1-800-633-8284. The reservation number for the replay is 19870663.

About Mpower Holding Communications
Mpower Holding Corporation (NASDAQ: MPWR) is the parent company of Mpower Communications, a facilities-based broadband communications provider offering a full range of data, telephony, Internet access and Web hosting services for small and medium-size business customers. Further information about the company can be found at www.mpowercom.com.

Investor Relations Inquiries:
Media Inquiries:
Tracy Gay Michele Sadwick
Director Vice President
716.218.6564 716.218.6542
tgay@mpowercom.com msadwick@mpowercom.com


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