ABC Radio Networks and Radio One Join Forces to Create America's Largest Urban Network.

Business & Entertainment Editors

DALLAS--(ENTERTAINMENT WIRE)--Nov. 6, 2001

Partnership Hoists ABC's Urban Advantage Network

from 25th to Sixth in 18-49 Audience Rankings

ABC Radio Networks, the leader in urban radio programming, and Radio One, Inc., the largest owner and operator of urban radio stations, have partnered to form a history-making platform that creates the largest radio network reaching the African-American marketplace. The new partnership enables ABC Radio Networks' Urban Advantage Network (UAN) to be available to more than 93 percent of African-American consumers.

The two companies have established an expanded network to create the most wide-reaching radio infrastructure to access the African-American market. Radio One will allocate a portion of its commercial time to ABC Radio Networks' existing Urban Advantage Network. The alliance bolsters the reach of UAN and provides Radio One with a vehicle to reach African-American consumers on a national level, in addition to its established local market efforts.

ABC Radio Networks' 163 urban affiliates and the vast majority of Radio One's 65 owned and/or operated radio stations will be united under the banner of the Urban Advantage Network. This partnership will catapult the ranking of the Urban Advantage Network from 25th to sixth among adults 18-49 and will increase its average audience by almost 250 percent, based on an analysis by the ABC Radio Networks Research Department. U.S. DMA coverage will increase from 73 to 76 percent. UAN's index for top 10 DMAs goes from 115 to 121 and DMAs 11-25 from 73 to 125.(a)

"This agreement with ABC represents the most cost efficient and rational way to leverage our extensive radio station platform and should optimize shareholder value creation vis-a-vis various options for our network radio strategy," said Alfred C. Liggins, III, CEO and President of Radio One. "We look forward to executing against this very exciting, history-making partnership with ABC Radio Networks."

"ABC Radio Networks has consistently led the radio industry in programming that uniquely connects with African-American consumers," said Traug Keller, president of ABC Radio Networks. "Our partnership with Radio One continues our industry leadership, innovation and delivery of the best content to our listeners and audience to our advertisers."

"This strong strategic alliance provides ABC Radio Networks with a platform for potential collaborations in sports, syndicated music programs, gospel and urban talk radio," said Darryl Brown, executive vice-president and general manager of ABC Radio Networks. "We look forward to teaming with Radio One to enhance our service to the urban listener and increase our advertisers' power to reach this incredibly loyal market."

Radio One is the nation's seventh largest radio broadcasting company (based on 2000 pro forma revenue) and the largest primarily targeting African-American and urban listeners. Pro forma for all announced acquisitions and operating agreements, the Company owns and/or operates 65 radio stations located in 22 of the largest markets in the United States and programs five channels on the XM Satellite Radio system.

Offering America's leading urban radio programming, ABC's Urban Advantage Network (UAN) is a unit-based radio network which combines some of the nation's top urban stations with ABC's strong 24/7 programming line-up: "Rejoice! Musical Soul Food," "Classic R&B," and "The Touch." The UAN also includes many "Tom Joyner Morning Show" and "Doug Banks Morning Show" Top 25 markets, including New York, Chicago, Philadelphia, Washington D.C. and Houston.

ABC Radio Networks has more than 4,600 affiliate radio stations reaching 122 million persons age 12 and older each week. ABC broadcasts six full-service News Networks, ABC News Radio, "Paul Harvey News and Comment" and "The Rest of the Story," Radio Disney, ESPN Radio, "The Tom Joyner Morning Show," "The Sean Hannity Show," "The Doug Banks Morning Show," "American Country Countdown with Bob Kingsley," 12 ABC Radio 24-hour music formats, ABC Sports, and an extensive line-up of music and talk programming.

(a) Projections by ABC Radio Networks Research Department based on

RADAR 70, Summer 2001, Network Audiences to Commercials within

Programs, Monday-Sunday 6AM-12Midnight; and, Arbitron, Spring

2001, DMA, AQH, Monday-Sunday 6AM-12Midnight.