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OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Media/Communications Partners III Limited Partnership
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(Last) (First) (Middle)
75 State Street, Suite 2500
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(Street)
Boston MA 02109
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
03/31/99
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
McLeodUSA Incorporated (MCLD)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [x] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Class A Common Stock, $.01 par value 3,728,608(1) D
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one reporting person, see Instruction
5(b)(v).
(Over)
(Form 3-07/98)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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Explanation of Responses:
(1) M/C III, L.L.C. is the sole general partner of Media/Communications
Partners III Limited Partnership.
By: M/C III, L.L.C. its general partner
/s/ David D. Croll April 8, 1999
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David D. Croll Date
Manager
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2
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Joint Filer Information
Name: M/C III, L.L.C.
Address: 75 State Street, Suite 2500
Boston, MA 02109
Designated Filer: Media/Communications Partners III Limited Partnership
Issuer & Ticker Symbol: None
Date of Event
Requiring Statement: 03/31/99
Signature: /s/ David D. Croll
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David D. Croll
Manager
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Confirming Statement
This Statement confirms that the undersigned, M/C III, L.L.C., has authorized
and designated Media/Communications Partners III Limited Partnership to execute
and file on the undersigned's behalf all Forms 3, 4 and 5 (including any
amendments thereto) that the undersigned may be required to file with the U.S.
Securities and Exchange Commission as a result of the undersigned's ownership of
or transactions in securities of McLeodUSA Incorporated. The authority of Eagle
Insurance Company under this Statement shall continue until the undersigned is
no longer required to file Forms 3, 4 and 5 with regard to the undersigned's
ownership of or transactions in securities of McLeodUSA Incorporated, unless
earlier revoked in writing. The undersigned acknowledges that
Media/Communications Partners III Limited Partnership is not assuming any of the
undesigned's responsibilities to comply with Section 16 of the Securities and
Exchange Act of 1934.
Date: April 8, 1999 M/C III, L.L.C.
/s/ David D. Croll
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David D. Croll
Manager