Ravenswood Acquisition Long Term Holdings LLC Announces Results of Common Stock Tender Offer

NEW YORK, March 22  /PRNewswire-FirstCall/ -- Ravenswood Acquisition Long Term Holdings, LLC today announced the results of its tender offer to purchase up to 541,000 shares ("Shares") of the Class A Common Stock, par value $0.001 per share, of Avalon Correctional Services, Inc. (OTC:CITY) at a price of $2.70 per share. The tender offer expired at 4:00 PM, New York City time, on Wednesday, March 21, 2007.

Based on tenders directly to Ravenswood Acquisition Long Term Holdings, LLC and information received from the Depositary Trust and Clearing Corporation, approximately 197,546 Shares were properly tendered and not withdrawn.  All validly tendered Shares have been accepted for payment in accordance with the terms of the tender offer.  Ravenswood Acquisition Long Term Holdings LLC will acquire all 197,546 Shares properly tendered and not withdrawn at a purchase price of $2.70 per share, net to the seller in cash, without interest and subject to applicable withholding taxes.  Payment for the Shares validly tendered and accepted for purchase under the tender offer, and return of any Shares not accepted, will be made promptly.

This announcement is not an offer to purchase Shares nor a solicitation of an offer to sell Shares. The offer was made solely by the Offer to Purchase and the related Letter of Transmittal.

Ravenswood Acquisition Long Term Holdings, LLC's offices are located at 104 Gloucester Road, Massapequa, NY  11758.

  Contact:
  John A. D'Urso Jr.
  Tel: [phone]


DATASOURCE: Ravenswood Acquisition Long Term Holdings, LLC



CONTACT:  John A. D'Urso Jr. of Ravenswood Acquisition Long Term

Holdings, LLC, [phone]



Web site:  

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