GVIC Communications:

• Announces value enhancement initiatives 
• A program of strategic initiatives has been undertaken to enhance its operations and financial position 
• Initiatives have been designed to address current economic and market challenges, position co for long-term growth 
• Says initiated plans to sell a significant portfolio of real estate properties in the near term 
• Says a variety of significant cost reduction measures have and are being implemented to reduce overall operating costs 
• Initiatives are targeted to reduce costs by more than $7 million on anannualized basis