American Community Newspapers Inc. Files 10-Q for the Second Quarter of 2008

DALLAS, Nov. 6  /PRNewswire-FirstCall/ -- American Community Newspapers Inc. (NYSE Alternext US LLC: ANE) ("ACN") today filed its Form 10-Q for the quarter ended June 29, 2008 with the Securities and Exchange Commission.

As previously reported on August 21, 2008, the filing was delayed until uncertainties related to impairment of the value of ACN's intangible assets had been resolved.  Upon completing the impairment analysis, the Company recorded a total non-cash impairment charge of $110 million related to goodwill and other identifiable intangible assets in the second quarter of 2008.

About American Community Newspapers Inc.

ACN is a community newspaper publisher in the United States, operating within four major U.S. markets: Minneapolis - St. Paul, Dallas, Northern Virginia (suburban Washington, D.C.) and Columbus, Ohio.  These markets are some of the most affluent, high growth markets in the United States, with ACN strategically positioned in many of the wealthiest counties within each market. ACN's goal is to be the preeminent provider of local content and advertising in any market its serves.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to ACN's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," " seek, " "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions. 

DATASOURCE: American Community Newspapers Inc.



CONTACT:  Investors, Corey Kinger, , [phone],

or Media, Joe LoBello, , [phone], both of

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