  We study in this paper the localization of light and the dielectric
properties of thin metal-dielectric composites at the percolation threshold and
around a resonant frequency where the conductivities of the two components are
of the same order. In particular, the effect of the loss in metallic components
are examined. To this end, such systems are modelized as random $L-C$ networks,
and the local field distribution as well as the effective conductivity are
determined by using two different methods for comparison: an exact resolution
of Kirchoff equations, and a real space renormalization group method. The
latter method is found to give the general behavior of the effective
conductivity but fails to determine the local field distribution. It is also
found that the localization still persists for vanishing losses. This result
seems to be in agreement with the anomalous absorption observed experimentally
for such systems.
