Teletouch Announces January 4, 2007 Date for Amex Hearing

  
    
  
  
    
      Teletouch Communications, Inc. (AMEX:TLL) today announced that on 
      Thursday, January 4, 2006, at 4:30 p.m. EST, the Company will attend a 
      hearing before an American Stock Exchange (“Amex” 
      or the “Exchange”) 
      Listing Qualifications Panel (the “Panel”) 
      to present its plan of compliance with the Amex continued listing 
      requirements and request continued listing on the Amex. On October 24, 
      2006, the Exchange Staff notified the Company that it was no longer in 
      compliance with Sections 1003(a)(ii) and (a)(iv) and Sections 134 and 
      1101 of the AMEX Company Guide. These Sections require Amex-listed 
      companies to comply with the minimum shareholders' equity, and, currency 
      in public reporting under the Securities Exchange Act of 1934, as 
      amended, continued listing requirements.
    
    
      Pending the hearing and the Panel’s subsequent 
      determination, the Company’s securities will 
      remain listed on the Exchange. The Company can provide no assurance that 
      the Panel will accept the Company’s plan of 
      compliance and grant its request for continued listing, or that, even if 
      it does, the Company will be successful in implementing the plan as 
      proposed. In the event that the Company’s 
      securities are delisted from the Amex, the Company will seek to be 
      listed on the Pink Sheets, which provides electronic quotation and 
      trading information.
    
    
      As previously announced, Teletouch has had difficulty in preparing its 
      current and historical consolidated financial statements related to 
      completing the audit of its recent acquisition of Progressive Concepts, 
      Inc. (“PCI”). 
      Teletouch acquired PCI on August 11, 2006. For a complete description of 
      the transaction, see the Company’s Current 
      Report on Form 8-K filed with the SEC on August 17, 2006.
    
    
      About Teletouch Communications
    
    
      For over 40 years, Teletouch has offered a comprehensive suite of 
      telecommunications products and services, including cellular, two-way 
      radio communications, GPS-telemetry and wireless messaging services 
      throughout the United States. Teletouch’s 
      wholly-owned subsidiary, Progressive Concepts, Inc., is a leading U.S. 
      provider of wireless cellular voice, data, and entertainment products 
      and branded wireless services to individuals, businesses, and government 
      agencies. PCI provides these products and services through its chain of 
      retail stores (under the “Hawk Electronics” 
      brand), Hawk-branded agents, a direct sales force in Texas and Arkansas, 
      and through the Internet (www.hawkelectronics.com). 
      PCI also operates a significant national wholesale distribution business 
      serving smaller cellular and automotive retailers, car dealers and 
      cellular service providers throughout the country. Teletouch's common 
      stock is traded on the American Stock Exchange under stock symbol: TLL. 
      Additional information about Teletouch can be found at: www.teletouch.com.
    
    
      All statements in this news release that are not based on historical 
      fact are "forward-looking statements" within the meaning of the Private 
      Securities Litigation Reform Act of 1995 and the provisions of Section 
      27A of the Securities Act of 1933, as amended, and Section 21E of the 
      Securities Exchange Act of 1934, as amended (which Sections were adopted 
      as part of the Private Securities Litigation Reform Act of 1995). 
      Forward-looking statements by their nature address matters that are, to 
      different degrees, uncertain. Forward-looking statements may address the 
      Company's expected future business or financial performance, and future 
      reporting of historic operating results the accounting for which has not 
      been completed. Forward-looking statements often contain words such as 
      "expects," "anticipates," "intends," "plans," "believes," "seeks," or 
      "will." The quarterly results for the period ended August 31, 2006 
      recited above are preliminary and therefore are forward-looking. While 
      management has based any forward-looking statements contained herein on 
      its current expectations, the information on which such expectations 
      were based may change. These forward-looking statements rely on a number 
      of assumptions concerning future events and are subject to a number of 
      risks, uncertainties, and other factors, many of which are outside of 
      our control, that could cause actual results to materially differ from 
      such statements. Such risks, uncertainties, and other factors include, 
      but are not necessarily limited to, those set forth under the caption 
      "Additional Factors That May Affect Our Business" in the Company's most 
      recent Form 10-K and 10-Q filings, and amendments thereto. In addition, 
      we operate in a highly competitive and rapidly changing environment, and 
      new risks may arise. Accordingly, investors should not place any 
      reliance on forward-looking statements as a prediction of actual 
      results. We disclaim any intention to, and undertake no obligation to, 
      update or revise any forward-looking statement.