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Corporate Records of North State Telecommunications

Responding to a Forum request, the management of North State Telecommunications Corporation has provided copies of the company's current bylaws, including amendments adopted this month.* Links for downloading these records as well as the company's articles of incorporation can be found under "Governance documents" in the Company Reports section of the Forum's reference page for North State.

On the subject of the company's annual report for 2009, management indicated that they expect it to be distributed to shareholders next week.

Please let me know if you have any questions or comments about these corporate records, or about any other information relevant to investor interests.

GL – November 29, 2010


Gary Lutin

Chairman, The Shareholder Forum

c/o Lutin & Company

575 Madison Avenue, 10th Floor

New York, New York 10022

Tel: 212-605-0335



* The recent amendments of the bylaws provide for the type of "advance notice requirements" that many corporate lawyers have started recommending as a means of limiting possible abuses of the processes for shareholder nominations and proposals. For views of two advocates of these provisions, see

▪  September 11, 2010, J.W. Verret of George Mason University School of Law, in the Harvard Law School Forum on Corporate Governance and Financial Regulation: "Defending Against Shareholder Proxy Access"

▪  September 16, 2010, Adam O. Emmerich of Wachtell Lipton Rosen & Katz, in the Harvard Law School Forum on Corporate Governance and Financial Regulation: "Shareholder Proxy Access: Time To Get Ready"



This Forum program is open to all shareholders of North State Telecommunications Corporation, and to any fiduciaries or professionals concerned with their investment decisions. Participation is free of charge, according to the Forum's standard Conditions of Participation.

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