AMFM Names Brian Ongaro Executive Vice President and Market Manager of Dallas Station Group.

Business Editors

DALLAS--(BUSINESS WIRE)--June 6, 2000

Experienced Radio Executive to Lead

Soon-to-be-Combined AMFM/Clear Channel Cluster

AMFM, Inc. (NYSE: AFM) named Brian Ongaro Executive Vice President and Market Manager of its station group in Dallas, the nation's fifth largest market in terms of revenue. The appointment is effective upon completion of the merger between AMFM and Clear Channel Communications (NYSE:CCU), expected to close in the second half of 2000, and the disposition of certain stations.

Similar to his current role as Cluster Vice President for AMFM's Dallas stations, Mr. Ongaro will be responsible for maximizing the revenue potential of the stations as well as identifying and exploiting the strengths of the newly formed cluster.

Kenneth J. O'Keefe, the newly appointed President and Chief Operating Officer of Clear Channel Radio, commented, "Brian is particularly well-suited to this unique role. His work as Cluster Vice President has set the standard for performance in this market. Under his guidance, all of the AMFM stations consistently ranked among the top stations in their respective target demographics."

Mr. Ongaro, a 20-year broadcasting veteran, began his career with Sundance Broadcasting, which was later sold to Chancellor Broadcasting in 1997, a predecessor company to AMFM. Most recently, he was Cluster Vice President for Dallas, where he oversaw the operations of six stations (5 FM, 1 AM). Prior to his appointment as Cluster Vice President, he was Vice President and General Manager for AMFM's KDGE-FM and KZPS-FM in Dallas, which he led to number one rankings in their target demographics. Mr. Ongaro's other management and sales experience includes positions with KIDO-AM and KIDQ-FM in Boise and WMIL-FM and WOKY-AM in Milwaukee, a 1993 Marconi Award recipient. Mr. Ongaro earned his bachelor's degree from Ohio State University and was past President of the Association of Radio Managers of Dallas-Ft. Worth.

The combined AMFM/Clear Channel Dallas station group will be comprised of KHKS-FM (106.1), KZPS-FM (92.5), KTXQ-FM (102.1), KEGL-FM (97.1) and KDMX-FM (102.9), which collectively represent the largest audience share in the Dallas market.

Mr. O'Keefe continued, "Given our roster of top performing stations, there is potential to continue the great growth and operating momentum we have achieved at all five stations. Brian has a rich history with AMFM and the Dallas market, and his consensus-building and teamwork abilities will be valuable assets to the new cluster going forward."

AMFM Inc., the nation's largest radio broadcasting entity, consists of the AMFM Radio Group, including The AMFM Radio Networks and the Chancellor Marketing Group, Broadcast Architecture, Inc. and the AMFM New Media Group, including Katz Media and AMFM's Internet operations. Reflecting announced transactions, excluding the divestiture of approximately 65 stations in connection with the merger with Clear Channel, AMFM Radio Group consists of approximately 440 stations in close to 100 markets. The AMFM Radio Networks offers syndicated programming nationwide. Chancellor Marketing Group is a full-service sales promotion firm developing integrated marketing programs for Fortune 1000 companies. Broadcast Architecture is a wholly-owned subsidiary of AMFM and provides research, consulting and programming services domestically and internationally. AMFM's Katz Media is the only full-service media representation firm in the United States serving multiple types of electronic media. AMFM's Internet operations focus on developing AMFM's e-commerce Web sites, streaming online broadcasts of AMFM's on-air programming and other media, and promoting emerging Internet and new media concerns.

AMFM has entered into a merger agreement with Clear Channel Communications, Inc. (NYSE:CCU) pursuant to which AMFM's stockholders would receive 0.94 shares of Clear Channel common stock for each share of AMFM common stock held on the record date of the transaction. AMFM will subsequently become a wholly-owned subsidiary of Clear Channel. Although there can be no assurance, the merger with Clear Channel is expected to be consummated by September 30, 2000.