Rye, New York – January 12, 2012 — On January 4, 2012, the Federal Communications Commission approved a transaction whereby LICT Corporation would sell its eight (8) 700MHz licenses. The licenses cover Catron County, New Mexico; Chautauqua County, New York; Dubuque, Iowa; Elmira, New York; Gogebic County, Michigan; Grant County, New Mexico; Las Cruces, New Mexico; and San Juan County, New Mexico. The transaction is expected to close on or about February 13, 2012 and would result in a net gain of $7.7 million, or $325 per share, after transaction costs and income taxes.

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