King & Spalding Advises GE Commercial Finance's Media Group in $188.5 Million Credit Facility for Telecommunications Provider Otelco Inc.

ATLANTA, GA--(Marketwire - October 27, 2008) - King & Spalding, a leading international law firm, represented GE Commercial Finance's Media, Communications and Entertainment Group in acting as administrative agent, lead arranger and sole bookrunner for the amendment and restatement of the senior credit facilities for Otelco Inc., a wireline telephone services provider in Alabama, Maine and Missouri. The amendment expands Otelco's existing senior credit facility to $188.5 million to fund the acquisition of three subsidiaries of Country Road Communications LLC, consisting of Pine Tree Holdings, Inc., Granby Holdings, Inc., and War Holdings, Inc., and includes the continuation of the existing $15 million revolver.

Otelco Inc., headquartered in Oneonta, Alabama, provides local and long distance telephone, network access, transport, digital high-speed data and dial-up Internet access, cable television and other telephone-related services. With more than 70,000 voice and data access lines, Otelco is among the top 40 largest local exchange carriers in the United States based on number of access lines.

The acquisition will expand Otelco's presence in Maine, Massachusetts and West Virginia.

Headquartered in Norwalk, Connecticut, GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $300 billion. GE is a diversified global infrastructure, finance and media company.

The King & Spalding legal team on this transaction included finance partners Carolyn Alford, of the Atlanta office, and Angela Batterson, of the New York office, and finance associates Oliver Drose and Mia Hahn, both of the Atlanta Office.

About King & Spalding

King & Spalding is an international law firm with more than 880 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and in Corporate Counsel surveys consistently has been among the top firms representing Fortune 250 companies. For additional information, visit www.kslaw.com.

Contact Information: Contact: Matt Hyams King & Spalding Ph. 212.827.4057