Gray Television, Inc.

Offer to Purchase for Cash Any and All of Its Outstanding
7½% Senior Notes Due 2020
(CUSIP Number 389375 AG1)

To view copies of the Offer To Purchase documents please click on the documents below

Offer to Purchase

Letter of Transmittal

Any question regarding procedures for tendering Notes or request for additional copies of this Offer to Purchase and the Letter of Transmittal should be directed to the Information Agent:

The Information Agent for the Offer is:

D.F. King & Co., Inc.

48 Wall Street — 22nd Floor
New York, New York 10005
Banks and Brokers Call Collect: (212) 269-5550
All Others Call Toll-Free: (800) 290-6431
Email: gtn@dfking.com

The Tender Agent for the Offer is:

D.F. King & Co., Inc.

By Regular, Registered or Certified Mail;
Hand or Overnight Delivery:
D.F. King & Co., Inc.
48 Wall Street — 22nd Floor
New York, New York 10005
Attention: Peter Aymar

By Facsimile Transmission (for Eligible Institutions only):
(212) 709-3328
Attention: Peter Aymar
To confirm receipt of facsimile by telephone:
(212) 232-3235

Any question regarding the terms of the Offer should be directed to the Dealer Manager.

The Dealer Manager for the Tender Offer is:

Wells Fargo Securities

550 South Tryon Street, 5th Floor
Charlotte, North Carolina 28202
Attention: Liability Management Group
Collect: (704) 410-4760
U.S. Toll-Free: (866) 309-6316
 BofA Merrill Lynch

214 North Tryon Street
Charlotte, North Carolina 28255
Attention: Debt Advisory
Collect: (980) 386-6026
U.S. Toll-Free: (888) 292-0070