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LBI Media, Inc. And LBI Media Holdings, Inc. Announce Amendments To Private Exchange Offers And Solicitation Of Consents And Extension Of The Expiration Date Of Private Exchange Offers And Solicitation Of Consents

The revision of the General Conditions and additional amendments to the terms of the Exchange Offers and solicitation of Exchange Offers Consents are described in the Offering Memorandum Supplement.

The Companies announced today additional preliminary results of the Exchange Offers and the solicitation of Exchange Offers Consents. As of 4:00 p.m., New York City time, on November 2, 2012, (i) approximately $60.5 million, or 26.4%, of the outstanding principal amount of Old Senior Subordinated Notes had been validly tendered and not withdrawn and the corresponding amount of Old Senior Subordinated Notes had validly delivered consents to the proposed amendments to the indenture governing the Old Senior Subordinated Notes in connection with the solicitation of Exchange Offers Consents, and (ii) approximately $29.1 million, or 69.6%, of the outstanding principal amount of Discount Notes not held by Holdings had been validly tendered and not withdrawn and the corresponding amount of Discount Notes had validly delivered consents to the proposed amendments to the indenture governing the Discount Notes in connection with the solicitation of Exchange Offers Consents.  These results include the Old Senior Subordinated Notes and the Discount Notes that have already been tendered and Exchange Offers Consents that have already been delivered by certain holders of the Old Senior Subordinated Notes and the Discount Notes that tendered their Old Notes and delivered their Exchange Offers Consents pursuant to various agreements among the parties. As of the date hereof, each of these agreements has automatically terminated in accordance with its terms and these holders may withdraw their previously tendered notes prior to the Withdrawal Deadline.

Media also announced today that that it has amended certain terms of its previously announced concurrent solicitation of consents (the " Solicitation Consents") to the proposed amendments to the indenture governing Media's 9¼% Senior Secured Notes due 2019 (the " First Priority Senior Secured Notes"), and  it has extended the expiration date for the solicitation of Solicitation Consents  to 5 p.m., New York City time, on November 13, 2012 and Solicitation Consents may be revoked at any time on or prior to 5 p.m., New York City time, on November 13, 2012 (the " Revocation Deadline"). 

The terms of the solicitation of Solicitation Consents are described in the Consent Solicitation Statement, dated July 17, 2012, as supplement by the Supplement, dated October 12, 2012, the Second Supplement, dated October 18, 2012, and further supplemented by the Third Supplement, dated November 2, 2012 (collectively, the " Consent Solicitation Statement").

As of 4:00 p.m., New York City time, on November 2, 2012, approximately $206.6 million, or 93.9%, of the outstanding principal amount of First Priority Senior Secured Notes had validly delivered Solicitation Consents.  These results include the consents delivered by certain holders of the First Priority Senior Secured Notes pursuant to an agreement with Media. As of the date hereof, this agreement has automatically terminated in accordance with its terms and these holders may revoke their previously delivered Solicitation Consents at any time on or prior to the Revocation Deadline.

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