INNOVATE Corp. — Director's Dealing 2011

Mar 31, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: PRIMUS TELECOMMUNICATIONS GROUP INC (NONE)
CIK: 0001006837
Period of Report: 2011-03-28

Reporting Person: Hill Christie (See Remarks)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$14.51	2020-02-01	Common Stock (25449)		Direct

Footnotes

F1: This option was initially exercisable for 43,750 shares of common stock of Arbinet Corporation ("Arbinet") and was assumed by
Primus Telecommunications Group, Incorporated ("Primus") in its merger with Arbinet on February 28, 2011 and was replaced
with an option to purchase 25,449 shares of Primus common stock with an exercise price of $14.51 per share. As of the
filing date of this report, the option was vested as to 16,434 shares of Primus common stock and unvested as to 9,015
shares. The unvested portion of this option is subject to monthly vesting, in equal installments, until February 1, 2014.