GRAY COMMUNICATIONS SYSTEMS INC /GA/
SC 13D/A, EX-1, 2000-12-04
TELEVISION BROADCASTING STATIONS
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                                            SCHEDULE II
                                    INFORMATION WITH RESPECT TO
                       TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
                          SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)

                                             SHARES PURCHASED        AVERAGE
                                  DATE            SOLD(-)             PRICE(2)

           COMMON STOCK-GRAY COMM SYS CLA B

                    MJG ASSOCIATES, INC.
                                11/28/00            1,000-           14.8750
                    GABELLI INTERNATIONAL LTD
                                11/17/00           14,000            14.0000
                    GAMCO INVESTORS, INC.
                                11/30/00           21,000            13.2500
                                11/30/00              300            14.5625
                                11/27/00            1,000            14.9375
                                11/27/00              500            14.9375
                                11/24/00              500            14.8750
                                11/24/00            1,500-           14.8750
                                11/22/00            5,500            14.9432
                                11/21/00           13,500            14.8935
                                11/20/00            2,000-           14.8750
                                11/20/00            1,500            14.8750
                                11/20/00            5,000            14.9500
                                11/20/00              500            14.8750
                                11/20/00            1,000            14.8750
                                11/20/00            1,000            14.7500
                                11/20/00              500-           14.8750
                                11/17/00            1,000            14.8750
                                11/17/00            4,000            14.8438
                                11/17/00            6,000            14.8344
                                11/17/00            2,500            14.6250
                                11/16/00            3,500            14.8571
                                11/15/00            6,500            14.9856
                                11/14/00            5,000            14.7875
                                11/13/00            2,000            14.6250


          (1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
              ON THE NYSE.

          (2) PRICE EXCLUDES COMMISSION.

















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