Gray Television, Inc. Announces Declaration of Dividend

Gray Television, Inc. Announces Declaration of Dividend 


ATLANTA, March 2  /PRNewswire-FirstCall/ -- Gray Television, Inc. (NYSE: GTN;
GTN.A) announced today that its Board of Directors has declared a dividend of
$.03 per share, payable on March 31, 2005, to stockholders of record of its
Common Stock and Class A Common Stock on March 15, 2005.  This is the 38th
consecutive year that Gray has paid a common stock cash dividend.

Gray's Board of Directors also declared a dividend of $200 per share, payable
on March 31, 2005, to stockholders of record of its Series C Preferred Stock on
March 15, 2005.

Gray Television, Inc. is a communications company headquartered in Atlanta,
Georgia, and currently operates 16 CBS-affiliated television stations, eight
NBC-affiliated television stations, seven ABC-affiliated television stations
and five daily newspapers. 

DATASOURCE: Gray Television, Inc.



CONTACT:  Bob Prather, President, [phone], or Jim Ryan, Chief

Financial Officer, [phone], both of Gray Television, Inc. 



Web site:  http://www.graytvinc.com/ 

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