Touch America Holdings, Inc. $6.875 Preferred Stock Certificate

Summary

This document certifies ownership of fully paid and non-assessable shares of $6.875 Preferred Stock, par value $0.01 per share, in Touch America Holdings, Inc., a Delaware corporation. The certificate allows the holder to transfer shares on the corporation’s books by proper endorsement or assignment. The shares are subject to the corporation’s Certificate of Incorporation, Bylaws, and Delaware law. The certificate is valid only when countersigned by the transfer agent and registered by the registrar.

EX-4.2 5 a2054022zex-4_2.txt EXHIBIT 4.2 Exhibit 4.2 NUMBER TAP [SEAL TOUCH AMERICA HOLDINGS, INC.] TOUCH AMERICA HOLDINGS, INC. Incorporated under the laws of the State of Delaware THIS CERTIFICATE IS TRANSFERABLE IN BUTTE, MONTANA - ----------------------------------------------------- [LOGO TOUCHAMERICA] PREFERRED STOCK, $6.875 SERIES CUSIP 891539 20 7 PAR VALUE $.01 SEE REVERSE FOR CERTAIN DEFINITIONS - ------------------------------------------------------------------------------------------------ THIS IS TO CERTIFY THAT IS THE OWNER OF - ------------------------------------------------------------------------------------------------ FULLY PAID AND NON-ASSESSABLE SHARES OF THE $6.875 PREFERRED STOCK, PAR VALUE $.01 PER SHARE, OF

CERTIFICATE OF STOCK TOUCH AMERICA HOLDINGS, INC., TRANSFERABLE ON THE BOOKS OF THE CORPORATION BY THE HOLDER HEREOF IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON THE SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED OR ASSIGNED. THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY ARE SUBJECT TO THE LAWS OF THE STATE OF DELAWARE, AND TO THE CERTIFICATE OF INCORPORATION AND BYLAWS OF THE CORPORATION AS NOW OR HEREAFTER AMENDED. THIS CERTIFICATE IS NOT VALID UNTIL COUNTERSIGNED BY THE TRANSFER AGENT AND REGISTERED BY THE REGISTRAR. IN WITNESS WHEREOF, THE CORPORATION HAS CAUSED THIS CERTIFICATE TO BE EXECUTED BY THE FACSIMILE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS AND HAS CAUSED A FACSIMILE OF ITS CORPORATE SEAL TO BE HEREUNTO AFFIXED. DATED: COUNTERSIGNED AND REGISTERED: TOUCH AMERICA HOLDINGS, INC. Transfer Agent and Registrar ~~By /s/ Rose Marie Ralph /s/ Robert P. Gannon /s/ Patrick T. Fleming Senior Assistant Secretary Chairman of the Board Vice President and Secretary and Chief Executive Officer~~

SHARES COMPOSITE BANKNOTE CORP. OF AMERICA*WALL STREET (NYC) * BROWNS SUMMIT(NC) * TOUCH AMERICA HOLDINGS INC.(PREFERRED) * 1-102031-942 * PROOF #4 * 10:38 AM * 4/10/01 * SMS/CH* TOUCH AMERICA HOLDINGS, INC. A FULL STATEMENT OF THE DESIGNATIONS, RELATIVE RIGHTS, PREFERENCES, AND LIMITATIONS, APPLICABLE TO EACH CLASS OF STOCK AUTHORIZED TO BE ISSUED, AND THE VARIATIONS IN THE RIGHTS PREFERENCES AND LIMITATION DETERMINED FOR EACH SERIES, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES WILL BE FURNISHED WITHOUT CHARGE TO ANY OWNER OF SUCH STOCK UPON WRITTEN APPLICATION TO THE OFFICE OF THE COMPANY, 130 NORTH MAIN, BUTTE, MONTANA ###-###-#### ----------------------------- ABBREVIATIONS The following abbreviations, when used in the inscription on the fact of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT - Custodian ------------ ------------ (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors JT TEN - as joint tenants with right Act of survivorship and not as tenants ------------------------ in common (State) UNIF TRANS MIN ACT - Custodian ------------ ------------ (Cust) (Minor) Under Uniform Transfers to Minors Act ------------------------ (State)

Additional abbreviations may also be used though not in the above list. --------------------------------- FOR VALUE RECEIVED, HEREBY SELL, ASSIGN AND TRANSFER UNTO ------------------ PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFICATION NUMBER OF ASSIGNEE - --------------------------------------- - --------------------------------------- --------------------------------------- - ------------------------------------------------------------------------------ PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ - -----------------------------------------------------------------------SHARES OF THE CAPITAL STOCK REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY IRREVOCABLY CONSTITUTE AND APPOINT -------------------------------------------- - ------------------------------------------------------------------------------ ATTORNEY TO TRANSFER THE SAID STOCK ON THE BOOKS OF THE WITHIN-NAMED CORPORATION WITH FULL POWER OF SUBSTITUTION IN THE PREMISES. DATED: --------------------------- --------------------------------------------- --------------------------------------------- --------------------------------------------- NOTICE: The signature(s) to this assignment must correspond with the name(s) as written upon the face of the Certificate, in every particular, without alteration or enlargement or any change whatever. Signature(s) Guaranteed: By --------------------------------------------------------------- THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM) PURSUANT TO S.E.C. RULE 17 Ad-15.