ADDvantage Media Announces Completion of TULSAT Acquisition.

TULSA, Okla.--(BUSINESS WIRE)--Sept. 30, 1999--

ADDvantage Media Group, Inc. (NASDAQ:ADDM) announced today that it has completed the previously announced acquisition of DRK Enterprises, Inc. d/b/a TULSAT. As a result of the transaction, TULSAT has become a wholly owned subsidiary of ADDvantage Media and will be the primary operating subsidiary of ADDvantage Media. David E. Chymiak and Kenneth A. Chymiak, the prior owners of TULSAT, received 8,000,000 shares of ADDvantage Media common stock (82% of the outstanding shares) plus 250,000 shares of two newly issued series of ADDvantage Media preferred stock having an aggregate stated value of $10 million. The Chymiaks received an additional 250,000 shares of the company's nonconvertible preferred stock in exchange for TULSAT notes in the aggregate amount of $10 million.

The Chymiaks will assume management of the company. All of the directors and executive officers of ADDvantage Media other than Gary W. Young, Executive Vice President-Administration and Finance, have resigned. The new board will consist of Dave and Ken Chymiak, Stephen J. Tyde and Freddie H. Gibson, in addition to Mr. Young.

TULSAT is a supplier of equipment, parts and service to the cable television industry. It maintains one of the largest inventories in the industry with new, surplus and refurbished equipment, accessories and construction hardware. It has 85 employees and services its more than 3,000 customers from facilities in excess of 100,000 square feet located in Broken Arrow, Oklahoma. Customers include cable television system operators, hotels, motels, hospitals, apartments and a myriad of other companies involved in the distribution of television signals.

According to a report filed by ADDvantage Media with the Securities and Exchange Commission, TULSAT had revenues of $19.7 million in 1998, resulting in pre-tax earnings of $5.7 million. TULSAT's unaudited results for the first six months of 1999 include revenues of $9.8 million and pre-tax earnings of $3.3 million. These results do not reflect the effect of preferred stock dividends that the company will pay in the future. Complete financial statements of TULSAT and pro forma information will be filed with the Securities and Exchange Commission by the middle of December of this year. Under the rules of the Securities and Exchange Commission, TULSAT, as the larger company, will be considered the successor in the transaction and its historical financial results will be included in the company's future filings with the Securities and Exchange Commission for the periods prior to the completion of this transaction.

The Chymiaks stated that they will be looking for opportunities to acquire other companies in TULSAT's business or related businesses. They further commented, "We believe that the timing is right to consolidate and grow our business operations. We are optimistic about our prospects to add jobs and facilities, as well as increasing our overall operations."

Certain statements contained in this press release are forward-looking statements which are subject to a number of uncertainties, risks and other cautionary statements, including those contained in ADDvantage Media's quarterly report on Form 10-QSB for the quarter ended June 30, 1999 and its annual report on Form 10-KSB for the year ended December 31, 1998, filed with the Securities and Exchange Commission.