GTN Gray Television Inc

Gray Television, Inc. Announces Increase in Common Stock Buyback Program ATLANTA, Nov. 4 /PRNewswire-FirstCall/ -- Gray Television, Inc. (NYSE:GTNNYSE:andNYSE:GTN.A) announced today that its Board of Directors has increased, from 2 million to 4 million, the aggregate number of shares of its Common Stock or Class A Common Stock authorized for repurchase. On March 3, 2004, Gray's Board of Directors had previously authorized the repurchase, from time to time, of up to an aggregate of 2 million shares of Gray's Common Stock or Class A Common Stock. Under this authorization, Gray has repurchased 1.5 million shares of Gray Common Stock and Class A Common Stock. As a result, 2.5 million shares of Gray Common Stock and Class A Common Stock are available for repurchase under the increased limit of 4 million shares. Gray Television, Inc. is a communications company headquartered in Atlanta, Georgia, and currently operates 16 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and five daily newspapers. DATASOURCE: Gray Television, Inc. CONTACT: Bob Prather, President, +1-404-266-8333, or Jim Ryan, Chief Financial Officer, +1-404-504-9828, both of Gray Television, Inc. Web site: http://www.graytvinc.com/

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