[0] SFX Sports Group Acquires Major Professional Football Representation Company Sports Management Group.

Sports Editors/Football Writers & Columnists

REPEATING...changing slug

NOTE TO MEDIA: Photo available on BW PhotoWire/AP PhotoExpress,

NewsCom, PressLink and on Business Wire's Web site

at www.businesswire.com

WASHINGTON--(BW SportsWire)--May 15, 2000

Mike Alstott, Elvis Grbac, Jerry Rice, Trent Green, Jon Runyan Among NFL Players Represented by Partners Jim Steiner and Ben Dogra

In a move that positions the company among the leaders in professional football athlete representation, SFX (NYSE: SFX) announced today the acquisition of Sports Management Group, Inc. (SMG). SMG, one of the top football agent practices, will join the SFX Sports Group, one of the world's leading sports marketing and management agencies.

Managed by Founder and Chairman Jim Steiner and President Ben Dogra, St. Louis-based SMG represents high-profile NFL players including Mike Alstott, Elvis Grbac, Trent Green and Jerry Rice, among many others. During their career, Steiner and Dogra have represented over 40 first- and second-round NFL draft picks. Thus far this off-season, they have negotiated in excess of $105 million of free agent contracts, believed to be the highest among any football agency.

Mr. Steiner becomes head of SFX Football, with Mr. Dogra continuing to play an integral role in the management of the group. The acquisition of SMG, which was founded in 1987, is part of SFX Sports Group's plans to build a football representation business that parallels its unmatched success in other sports.

Among the elite clients the company represents are: Elton Brand, Kobe Bryant, Patrick Ewing and Alonzo Mourning in basketball; Roger Clemens, Nomar Garciaparra, Pedro Martinez and Rafael Palmiero in baseball; top 10 tennis players Andre Agassi, Nicolas Kiefer and Nicolas Lapentti; hockey's Brian Leetch and Sergei Zubov; and UK soccer players David Beckham, Michael Owen and Dwight Yorke.

Commented SFX Sports Group Talent Representation President Ivan Blumberg, "SMG brings us a world-class talent representation agency that immediately establishes SFX Football as a force in the business similar to our position in other major sports. Jim Steiner and Ben Dogra are first-class individuals with impeccable reputations who we're thrilled to have join our team."

"All of us at SMG are unbelievably excited about the new opportunities that lie ahead with SFX," said Jim Steiner. "With their support and resources, we expect to take the football business to a new level. The benefits that SFX will provide to our present and future clients will be unparalleled in the industry."

The SFX Sports Group is a division of SFX, the world's largest diversified promoter, producer and venue operator for live entertainment events. The Sports Group includes many of the world's leading sports marketing and management agencies, specializing in the representation of athletes, integrated event management, television programming and production, and marketing services in the sports, news and entertainment industries.

SFX has announced that it had entered into a definitive merger agreement with Clear Channel Communications, Inc. (NYSE: CCU), a transaction that is expected to close by the third quarter of this year, subject to the vote of shareholders, and customary closing conditions. Clear Channel is a global leader in the out-of-home advertising industry with radio and television stations and outdoor displays in 36 countries around the world.

The press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because these statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially, including the company's absence of combined operating history and potential inability to integrate acquired businesses, need for additional financing, high degree of leverage, granting of rights to acquire certain portions of the company's operations, variable economic conditions and consumer tastes, risks associated with conducting business in foreign jurisdictions, regulatory risks and restrictions imposed by existing debt and future payment obligations. Important factors that could cause actual results to differ materially are described in the company's reports on Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission.

Note: A Photo is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.051500/bw4