Press Releases

CHICAGO, IL -- (MARKET WIRE) -- 02/09/12 -- KBS Legacy Partners Apartment REIT has acquired Poplar Creek, a 196-unit apartment complex located in Schaumburg, Ill., a prominent suburb of Chicago. The 12.8-acre complex was acquired free and clear of existing debt. Occupancy stands at 95 percent.

The purchase price of Poplar Creek was $27.2 million. KBS Legacy Partners Apartment REIT funded the acquisition of Poplar Creek with a $20.4 million seven-year multifamily note and proceeds from its ongoing initial public offering. The mortgage note bears interest at a fixed rate of 4.0% and monthly payments are interest-only during the first two years of the loan, followed by principal and interest payments with principal calculated using an amortization schedule of 30 years.

Built in 1986 and partially renovated in 2007, Poplar Creek offers one and two-bedroom configurations in 20 two-story residential buildings. Onsite amenities include a resort-style swimming pool, a 404-space parking lot and direct access to a fitness park with tennis and basketball courts, baseball diamond and soccer field. The community is also proximate to the Schaumburg rail station on Metra's Milwaukee District/West Line, offering direct access to Elgin, Ill. and Chicago.

One of Chicago's most economically vibrant suburbs, Schaumburg is home to 5,700 retail, office and industrial companies, representing the largest concentration of Illinois businesses outside Chicago.

ABOUT KBS LEGACY PARTNERS APARTMENT REIT KBS Legacy Partners Apartment REIT is a joint venture sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC. KBS Capital Advisors is owned and controlled by Charles Schreiber, Peter Bren, Peter McMillan and Keith Hall. Legacy Partners Residential Realty is owned and controlled by C. Preston Butcher, W. Dean Henry and Guy K. Hays.

Media Contacts:
Cindy Tullues or Bob Ochsner
DGWB for KBS Realty Advisors
(714) 881-2310
ctullues@dgwb.com
bochsner@dgwb.com

Source: KBS Realty Advisors

VOORHEES, N.J.--(BUSINESS WIRE)-- New Jersey American Water’s new Canoe Brook Water Treatment Plant will not be complete until June 2012, but already the state-of-the art facility in Short Hills is garnering plenty of attention. In recent weeks, the water treatment plant has won recognition from New Jersey Alliance for Action and the Climate Change Business Journal.

The Alliance for Action labeled the construction of the Canoe Brook plant as “New Jersey’s Leading Infrastructure Award” for “rebuilding a turn of the century plant.”

New Jersey American Water garnered the Climate Change Business Journal’s “Project Merritt: Solar” award for its floating solar array on a reservoir at the Canoe Brook Plant. New Jersey. The solar field is the first on the East Coast designed to withstand a freeze thaw environment. The 400 solar modules will produce 135,000 kilowatt hours per year.

“We are thrilled to receive recognition from the Climate Change Business Journal for one of the new ways we are using green energy,” said Suzanne Chiavari, Vice President of Engineering at New Jersey American Water. “Sustainability and solar power will continue to be an emphasis for us as we continue to look for ways to control costs and be a good environmental steward.”

New Jersey American Water, a wholly owned subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.5 million people. Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 15 million people in more than 30 states, as well as parts of Canada. More information can be found by visiting www.amwater.com.

New Jersey American WaterRichard G. Barnes, 856-782-2371richard.barnes@amwater.com

Source: New Jersey American Water

BALA CYNWYD, Pa.--(BUSINESS WIRE)-- Entercom Communications (NYSE: ETM) announced today that it will release fourth quarter 2011 financial results after the market closes on Tuesday, February 28, 2012.

Entercom will hold a conference call regarding the quarterly earnings release on Tuesday, February 28, 2012 at 4:30 PM Eastern Time. The public may access the conference call by dialing 888-889-0278 (passcode: Entercom).

A replay of the conference call will be available for one week by dialing 800-679-9655. A webcast of the conference call will be available beginning six hours after the call on the Company’s website for a period of two weeks. Entercom Communications’ website is located at www.entercom.com.

Investors will have the opportunity to submit questions to the Company regarding the earnings release by emailing their inquiries to questions@Entercom.com. Questions should be sent by 15 minutes prior to the call.

About Entercom Communications

Entercom Communications Corp. is one of the five largest radio broadcasting companies in the United States, with a nationwide portfolio in excess of 100 stations in 23 markets, including San Francisco, Boston, Seattle, Denver, Portland, Sacramento and Kansas City.

Known for developing unique and highly successful, locally programmed stations, Entercom is home to some of radio’s most distinguished brands and compelling personalities. The Company is also the radio broadcast partner of the Boston Red Sox, Boston Celtics, Kansas City Royals, New Orleans Saints, the Oakland A’s, the San Jose Sharks, the Buffalo Bills and Buffalo Sabres.

Entercom focuses on creating effective integrated marketing solutions for its customers that incorporate the company’s audio, digital and experiential assets. Additionally, the company has a long-standing commitment to responsible corporate citizenship and environmental stewardship. Entercom stations play a vital, hands-on role in improving their communities, providing over $100 million in annual support for local charitable organizations.

The company’s radio stations have received numerous awards, including multiple Edward R. Murrow Awards for excellence in broadcast journalism and National Association of Broadcasters (NAB) Marconi Awards for excellence in radio broadcasting. In 2007, Forbes magazine named Entercom one of America’s “Most Trustworthy Companies.”

For more information, please visit www.entercom.com.

Entercom Communications Corp.Steve FisherExecutive VP and CFO610-660-5647

Source: Entercom Communications Corp.

LAKEWOOD, COLORADO -- (MARKET WIRE) -- 02/09/12 -- Rare Element Resources Ltd. (TSX: RES)(NYSE Amex: REE) (the "Company" or "Rare Element") announced that its unaudited consolidated financial statements and Form 10-Q for the second quarter ended December 31, 2011 have been filed on www.sedar.com and www.sec.gov.

All dollar amounts stated below are in United States dollars.

Second Quarter Ended December 31, 2011 Financial Highlights:

The net loss for the second quarter ended December 31, 2011 totaled $10.1 million or $0.23 per share as compared to a net loss of $2.6 million or $0.07 per share for the same period in 2010. The $7.5 million negative variance in net loss between the periods was due to the following:

--  Increased exploration spending at the Bear Lodge property ($3.8
    million);
--  Increased stock-based compensation expenses due to the amortization of
    past option grants to the recently hired executives ($2.4 million);
--  Write-down of the Nuiklavik mineral property located in Canada ($0.9
    million);
--  Increased general and administrative expenses due to more employees
    ($0.7 million);
--  Reduced foreign exchange gain due to the impacts on the Company's
    Canadian dollar cash balances related to exchange rate fluctuations in
    the US dollar on the balance sheet date ($0.5 million); and
--  Partially offset by positive variances in the mark-to-market gains on
    purchase warrants ($0.4 million) and increased interest income ($0.2
    million).

Cash and cash equivalents at December 31, 2011 were $59.5 million compared to $64.2 million as of September 30, 2011. The $4.7 million decrease in cash was primarily due to exploration and general & administrative spending.

Rare Element currently has 44.2 million common shares outstanding and 49.0 million common shares outstanding on a fully diluted basis.

The unaudited financial statements are available through the Canadian securities regulatory authorities at www.sedar.com, and with the Securities and Exchange Commission at www.sec.gov. They are also available on the Company's website at www.rareelementresources.com.

Update on the Bear Lodge Project Preliminary Feasibility Study:

On January 4, 2012 we announced the results of an updated National Instrument 43-101 (NI 43-101) compliant mineral resource estimate of rare-earth elements plus yttrium contained in three deposits located in the Bull Hill deposit. The updated resource estimate of the Bull Hill deposit consists of 6.8 million tons (6.2 mm metric tonnes) averaging 3.75% rare-earth oxide (REO) in measured and indicated (M & I) mineral resources categories, increased from 4.9 million tons (4.4 mm metric tonnes) averaging 3.77% REO last year, both using a 1.5% REO cutoff grade. The total pounds of REO contained in all the high-grade deposits in all resource categories increased by 26% from 1,450 million pounds (660 million kg) to 1,830 million pounds (830 million kg). The interim M & I mineral resource estimate for the Bull Hill deposit was provided for inclusion in our current Preliminary Feasibility Study (PFS). However, the interim mineral resources estimate includes less than half of the new assay results from holes drilled in 2011. We intend to update the mineral resource estimate again by the end of the fourth quarter of 2012, utilizing all of the 2011 drill holes.

We expect to complete the PFS during the first quarter of 2012. Immediately after completing the PFS we will start work on the Feasibility Study. During 2012 we plan to begin the formal National Environmental Policy Act Environmental Impact Study process followed by the 2013 start of the formal mine permitting process with Wyoming Department of Environmental Quality. Mine construction will commence immediately upon the successful completion of the feasibility studies, environmental impact studies and permitting.

Cautionary Note to U.S. Investors Concerning Estimates of Measured and Indicated Mineral Resources

This section uses the terms "measured mineral resources" and "indicated mineral resources." We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.

Our measured and indicated mineral resources reported in our Form 10-Q have been estimated in compliance with definitions set out in NI 43-101.

Rare Element Resources Ltd. (TSX: RES)(NYSE Amex: REE) is a publicly traded mineral resource company focused on exploration and development of rare-earth elements and gold on the Bear Lodge property located in northeastern Wyoming, USA.

Rare-earth elements are key components of the green energy technologies and other high-technology applications. Some of the major applications include hybrid automobiles, plug-in electric automobiles, advanced wind turbines, computer hard drives, compact fluorescent lights, metal alloys, additives in ceramics and glass, petroleum cracking catalysts, and a number of critical military applications. China currently produces more than 95 percent of the 130,000 metric tonnes of rare-earths consumed annually worldwide, and China has been reducing its exports of rare-earths each year. The rare-earth market is growing rapidly, and is projected to accelerate if green technologies continue to be implemented on a broad scale.

ON BEHALF OF THE BOARD

David P. Suleski, CFO

For information, refer to the Company's website at www.rareelementresources.com.

Forward-Looking Statements

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including "will", "believes", "may", "expects", "should", "seeks", "anticipates", "has potential to", or "intends" or by discussions of strategy or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, statements regarding our expectations regarding future mineral resource estimates; our plans, objectives and expectations with respect to the Bear Lodge Project; general industry and macroeconomic growth rates and statements regarding future performance.

Forward-looking statements used in this discussion are subject to various risks and uncertainties, most of which are difficult to predict and generally beyond the control of the Company. Forward-looking statements in this document are not a prediction of future events or circumstances, and those future events or circumstances may not occur. If risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. Important factors than can cause the Company's actual results to differ materially from those anticipated in the forward-looking statements include risks associated with commodity prices, exploration results, governmental and environmental regulations, permitting, licensing and approval processes for our operations and other factors described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended June 30, 2011, filed with the U.S. Securities and Exchange Commission ("SEC") as updated by our subsequent filings with the SEC. Given these uncertainties, users of the information included herein, including investors and prospective investors, are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by U.S. and Canadian securities laws.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Rare Element Resources Ltd.
Anne Hite
Director of Investor Relations
(720) 278-2460
ahite@rareelementresources.com

Rare Element Resources Ltd.
Dave Suleski
(720) 278-2460
dsuleski@rareelementresources.com
www.rareelementresources.com

Source: Rare Element Resources Ltd.