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American Community Newspapers, Inc. 14875 Landmark Boulevard Suite 110 Phone: (972) 628-4080 Addison, TX  75254  United States Ticker: ACNIQ Filed for Bankruptcy on 5/29/2009 This company ceased filing statements with the SEC on 11/10/2008 Case #09-11, filed in the U.S. Bankruptcy Court for the District of Delaware

Business Summary American Community Newspapers Inc. (ACN) is a blank check company formed to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. The Company entered into an Asset Purchase Agreement (APA) with MOTV on January 24, 2007 (subsequently amended on May 2, 2007) providing for the purchase by ACN of the business and substantially all of the assets of MOTV and the assumption by the Company of certain of MOTV’s liabilities. MOTV Holding LLC, the sole member of MOTV, was also a party to the APA. In April 2009, American Community Newspapers Inc. announced that its subsidiary operating company American Community Newspapers LLC (ACN or the Company) has voluntarily filed petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. ACN will continue to operate its businesses during the reorganization process.

Financial Information Financial Ratings: Z'' Score   Latest Financial Statements and Analyses: 9/28/2008    Annual Financials    Quarterly Financials     Current Fiscal Period: 3Q 2008 Fiscal Year End: December Last Audit: 12/30/2007 Auditors: GOLDSTEIN GOLUB KESSLER LLP Audit Opinion: Unqualified Other Statements: Trade Payment History     SEC Filings: Management Discussion & Analysis    Full Filings

Industries Type Code Description Sector SERVIC Services Industry PBLSHG Printing & Publishing SIC 2711 Newspapers: Publishing, Or Publishing And Printing NAICS 51111 Newspaper Publishers

Management Title Name Age Title Date Start Date Chairman of the Board, President, Chief Executive Officer Eugene M. Carr 52 12/31/2006 12/31/2006 Chief Financial Officer David Kosofsky 25 8/25/2008 8/25/2008 Director Richard D. Goldstein 56 12/31/2006 12/31/2006 4 additional Management records available in full report.

Branches and Subsidiaries Business Name Address City State/Province Country American Community Newspapers LLC 14875 Landmark Boulevard Dallas TX United States

Business Names Business Name Amendment I, Inc. American Community Newspapers Inc. CM Printing 19 additional Business Names available in full report.

General Information Number of Employees: 595 (As of 12/31/2007) Outstanding Shares: 14,623,445 (As of 11/6/2008) Shareholders: 23 (As of 12/30/2007) Stock Exchange: OTC Federal Tax Id: 202521288 Fax Number: (972) 801-3496

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