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Date Title   12/13/05 Gray Television, Inc. Announces Conditional Approval for Listing of Triple Crown Media, Inc. on Nasdaq National Market 11/30/05 Gray Television, Inc. Acquires WSAZ-TV, Charleston-Huntington, West Virginia 11/30/05 Gray Television, Inc. Sets Record Date for Spin-Off of Triple Crown Media, Inc. 11/29/05 Gray Television, Inc. Increases Capacity of Existing Senior Credit Facility 11/23/05 Gray Television, Inc. to Acquire WNDU-TV From the University of Notre Dame 11/18/05 Gray Television, Inc. Announces Declaration of Dividend 11/10/05 Gray Television, Inc. Acquires WVAG-TV, Moultrie, Georgia 11/07/05 Gray Reports Operating Results for the Three Months and Nine Months Ended September 30, 2005 10/27/05 Gray Included in Forbes List of 200 Best Small Companies 10/26/05 Gray Updates Guidance for 3rd Quarter 2005 Television Operating Results and Sets Earnings Release Date for November 7, 2005 08/22/05 Gray Television, Inc. To Acquire WSAZ-TV, Charleston-Huntington, West Virginia 08/09/05 Gray Television, Inc. Announces Declaration of Dividend 08/08/05 Gray Reports Operating Results for the Three Months and Six Months Ended June 30, 2005 08/03/05 Gray Television, Inc. Announces Plan for Spin-Off of Newspaper Publishing and Wireless Businesses into Newly-Formed Triple Crown Media, Inc. 07/01/05 Gray Television, Inc. Reduces Interest Rate on Existing Senior Credit Facility 05/05/05 Gray Television, Inc. Announces Declaration of Dividend 05/05/05 Gray Reports Operating Results for the Three Months Ended March 31, 2005 03/10/05 Gray Reports Record Operating Results for the Three Months and Year Ended December 31, 2004 03/02/05 Gray Television, Inc. Announces Declaration of Dividend 02/01/05 Gray Television, Inc. Acquires KKCO-TV, NBC Channel 11, in Grand Junction, Colorado 01/31/05 Gray Television, Inc. Announces Former U.S. Senator Zell Miller Rejoins Gray Board