AMFM Radio and traffic.com Form Strategic Alliance; National Rep and Local Traffic Information Relationships Established.

Business &Technology Editors

DALLAS, Texas &CAMP HILL, Pa.--(BUSINESS WIRE)--Jan. 24, 2000

AMFM Secures Right to Acquire Equity in traffic.com

AMFM INC. (NYSE:AFM), a radio broadcaster with 440 stations, and traffic.com, Inc. (www.traffic.com), a provider of real-time traffic and logistics information services, today announced a strategic alliance whereby traffic.com will act as a national representative for a portion of AMFM's active information spot inventory and provide traffic reports to AMFM radio stations in Philadelphia beginning in April 2000. In connection with the representation agreement, traffic.com will receive future advertising and promotional time on AMFM's radio properties. Additionally, as part of the transaction AMFM received warrants to purchase a minority equity stake in traffic.com. Financial terms were not disclosed.

Effective immediately, traffic.com will represent AMFM on a portion of its previously un-obligated, active information 10-second inventory, utilizing a specialized sales force targeting national sales. Starting in April, traffic.com will also begin providing traffic information for broadcast and Internet use in the Philadelphia market where AMFM owns WDAS-FM/AM, WJJZ-FM, WLCE-FM, WIOQ-FM and WUSL-FM. Under the terms of the agreement, traffic.com will provide a combination of its new digital real-time &uot;flow data&uot; information and traditional incident or &uot;event data&uot;.

&uot;We view this agreement as a classic win-win situation,&uot; said James E. de Castro, Vice-Chairman of AMFM Inc., President and Chief Executive Officer of AMFM Radio Group and Chairman and CEO of AMFMi, the Company's Internet operation. &uot;traffic.com will generate additional revenue opportunities for us in a category of inventory that's traditionally been about 50 percent unsold on a national basis. It will also provide our listeners with the highest quality local traffic information available. The potential for AMFM to have equity in traffic.com aligns each company's interests and makes the relationship even more attractive over the near- and long-term.&uot;

Gary Lee, AMFM's Vice President of Media Partnerships and Initiatives continued, &uot;Our alliance with traffic.com gives AMFM flexibility in managing its active information needs - a valuable benefit given the demand on our inventory and the ongoing consolidation in the industry. We will continue to examine all opportunities to improve AMFM's information services on a market-by-market or national basis.&uot;

&uot;We're looking forward to a great relationship with AMFM as a business partner,&uot; commented David L. Jannetta, President of traffic.com. &uot;We're excited to begin airing traffic.com reports in the Philadelphia market through AMFM stations as the initial phase of our national roll out.&uot;

&uot;Using Web-based applications to deliver real-time traffic information and manage inventory is changing the face of the traffic industry,&uot; said Al McGowan, Senior Vice President New Media at traffic.com. &uot;For the first time stations will truly share in the substantial revenue generated by these active listening information sponsorships.&uot;

About traffic.com

traffic.com (www.traffic.com) is focused on being the market leader for traffic and logistics information services. It collects data through its proprietary collection network and aggregates data from available resources resulting in real-time information concerning conditions on highways, airports and ports in the United States.

Its traffic information is unique and proprietary with such high value features as actual travel times between two points in a city and comparisons to historical conditions to quantify delays for routing organization. Data is provided to end users in business (logistics and fleet services), government agencies (DOT's) and the traveling public via numerous communications platforms such as broadcast, cable, Internet, wireless providers and in-vehicle navigation units.

traffic.com's investors include Internet Capital Group (Nasdaq:ICGE), an Internet holding company actively engaged in business-to-business e-commerce through a network of partner companies; TL Ventures, which focuses on information technology, communications and healthcare companies; Bessemer Venture Partners, which provides investment and assistance in building innovative high-growth companies; and Pennsylvania Early Stage Partners, a venture fund affiliated with Safeguard Scientifics, Inc. (NYSE:SFE), a holding company focused on Internet-related businesses.

About AMFM

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, and the AMFM New Media Group, including Katz Media and AMFM's Internet operations. Reflecting announced transactions, AMFM Radio Group, with over 440 stations in 100 markets, reaches a weekly listener base of approximately 64 million people. 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. 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.