Based on the new RSM FM Band Plan, it appears the new LPFM frequencies will be 87.5 (or 87.6) thru to 88.3Mhz.
At a good guess, the lowest licenced frequency allocated will be 88.6. It is interesting that they will be moving the licenced frequencies around to better fit 800khz separation when they all expire in 2011. This will open up a few frequencies here in Tauranga for licences.
Ross.