SOURCE: Network Communications, Inc.

Network Communications, Inc.

December 21, 2010 08:00 ET

Network Communications, Inc. Announces Extension of Exchange Offer for Its Senior Notes

LAWRENCEVILLE, GA--(Marketwire - December 21, 2010) - Network Communications, Inc., along with its subsidiaries and affiliates ("NCI" or the "Company"), announced today the extension of its previously announced exchange offer and consent solicitation (the "Offer") for any and all of its outstanding 10¾% Senior Notes due 2013 (CUSIP No. 64125B AC5) (the "Senior Notes"). The expiration date of the Offer has been extended to 5:00 p.m., New York City time, on December 28, 2010 (the "Expiration Date"), unless further extended or earlier terminated. As of 5:00 p.m., New York City time, on December 20, 2010, the Company has received tenders and tender commitments with respect to $174.8 million aggregate principal amount of Senior Notes, representing 99.9% of the outstanding Senior Notes. Any Qualified Holder (as defined in the Offering Memorandum and Disclosure Statement dated as of November 16, 2010, the "Offering Memorandum and Disclosure Statement"), who has not validly tendered its Senior Notes, may participate in the Offer by validly tendering its Senior Notes in accordance with the terms of the Offer prior to the Expiration Date. While the Offer has been amended to extend the expiration date, withdrawal rights have not been extended. Withdrawal rights terminated at 5:00 p.m., New York City time, on December 20, 2010. All other terms of the Offer are unchanged.

The Offer is made only by, and pursuant to, the terms set forth in the Offering Memorandum and Disclosure Statement, and the information in this press release is qualified by reference to the Offering Memorandum and Disclosure Statement and the accompanying Amended Letter of Transmittal and Consent dated November 26, 2010. This press release is neither an offer to sell nor the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is also not a solicitation of consents to the proposed amendments to the Senior Notes. Any questions or requests for additional copies of the Offering Memorandum or related documents may be directed to the information agent, Kurtzman Carson Consultants, LLC at (917) 281-4800.

About NCI

Network Communications, Inc. is a leading local media company providing lead generation, advertising and Internet marketing services to the housing industry. The Company's leading brands are Apartment Finder, The Real Estate Book, DigitalSherpa, Unique Homes, New England Home and Atlanta Homes & Lifestyles. NCI has market representation in more than 500 local markets around the United States. The Company's strategy focuses on providing high-quality and measurable marketing solutions to local clients by leveraging its proprietary prospect-focused distribution and content management infrastructure. NCI distributes more than 9.4 million local print catalogs of apartments for rent and homes for sale every month through more than 300,000 distribution points; NCI's websites are leading Internet destinations for consumers looking for homes to rent or buy, with an average of 2.0 million unique users every month; and it provides Internet marketing services using social media tools to its customers.

Forward-Looking Statements

Statements in this release which are not purely historical facts, including statements about forecasted financial projections or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to the Company on the date this release was submitted. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.

Contact Information

  • Contacts
    Gerard Parker
    770-962-7220 ext 24234

    Tami McCarthy
    TMG Public Relations