Local Corporation to Explore Strategic Alternatives; Engages Siemer & Associates as Financial Advisor

IRVINE, Calif.--(BUSINESS WIRE)--

Local Corporation LOCM, a leading local search and advertising technology company, today announced it has initiated an external process to explore strategic alternatives to enhance shareholder value and has engaged Siemer & Associates as its financial advisor.

"While we continue to focus on increasing operating efficiency, reducing costs and driving profitable growth throughout the organization, in light of recent indications of interest, we believe now is the right time to explore strategic alternatives that have the potential to generate increased value for our shareholders," said Fred Thiel, Local Corporation chairman and CEO. "We look forward to working with Siemer & Associates to help us evaluate the best strategic avenues to maximize the value of our business and support the continued growth and well-being of our rapidly expanding global mobile search footprint and proprietary global mobile ad network."

Local does not have a defined timeline for the strategic review process and is not confirming that the review will result in any specific action or transaction.

About Siemer & Associates LLC

Siemer & Associates LLC is a boutique merchant bank that serves digital media, software and Internet companies throughout their business life cycles. The investment banking team has successfully completed more than 70 transactions that aggregate over $3 billion in sell-side mandates and $1.5 billion in equity capital. S&A is committed to offering honest advice and guidance based on relevant experience, deep domain knowledge and an understanding of the market. S&A provides clients with the insight and perspective necessary to make informed decisions. Siemer & Associates is headquartered in Los Angeles, CA with offices in London and Singapore. www.siemer.com

About Local Corporation

Local Corporation LOCM is a leading local search and advertising technology company that aggregates and curates the most relevant and rich personalized content and presents it to millions of consumers wherever and however they search for information, while providing significant reach and value to the company's advertisers and partners. For more information, visit: http://www.localcorporation.com or visit the company's flagship site: http://www.local.com.

Forward Looking Statements

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