DH Capital Advises Hersam Acorn Newspapers on Journal Acquisition and $19,500,000 Debt Placement

NEW YORK, NY--(Marketwire - August 7, 2007) - DH Capital, LLC, an investment banking firm serving the media, Internet and telecommunications industries, announced today that Hersam Acorn Newspapers, LLC ("Hersam Acorn") has closed its acquisition of 11 community newspapers, five shoppers, and two printing plants from Journal Community Publishing Group, a subsidiary of Journal Communications, Inc. In conjunction with the transaction, Hersam Acorn secured a $19,500,000 senior credit facility from CIT Lending Services Corporation ("CIT").

"DH Capital did a phenomenal job guiding us through this transaction," stated Martin V. Hersam, chief operating officer of Hersam Acorn. He continued, "Over two years ago, we set an objective to acquire these operations if they ever came available. When the opportunity presented itself this year, DH Capital was instrumental in helping us successfully navigate through the process and arrange the financing in order to close the deal."

"It has been our pleasure working with Marty Hersam and Tom Nash," stated Mark Thorsheim, Managing Director of DH Capital. "These newspapers and printing operations are such a natural fit for Hersam Acorn, so there is tremendous satisfaction in helping our client achieve their goal."

DH Capital served as financial advisor on the JRN acquisition and CIT debt placement.

About DH Capital, LLC

DH Capital is an investment banking partnership serving the media, Internet and telecommunications industries. Headquartered in New York, the firm's principals have extensive experience and proven abilities in capital formation, finance, research, business development and operations. DH Capital provides a full range of advisory services to companies and financial institutions including private placements, mergers & acquisitions, financial restructuring, and operational consulting. The principals of DH Capital have led hundreds of transactions including mergers & acquisitions totaling in excess of $10 billion, private equity placements totaling more than $1 billion, and debt placements totaling in excess of $10 billion.

Contact Information: For additional information please contact: DH Capital 212-774-3720 website: www.dhcapital.com