AMFMi Announces Senior Management and Board Appointments.

DALLAS and NEW YORK--(BUSINESS WIRE)--Nov. 18, 1999--

AMFMi, a subsidiary of AMFM Inc. (NYSE:AFM) focused on leveraging AMFM's leading national radio station assets on the Internet, today named its Chairman and CEO as well as two additional members of the AMFMi Board of Directors. James E. de Castro, 44, will add Chairman and CEO responsibilities at AMFMi to his current role as AMFM's Vice-Chairman and President and Chief Executive Officer of the Company's Radio Group. He joins Jim Burtson, AMFMi's Chief Financial Officer, and Chuck Armstrong, AMFMi's Chief Marketing Officer, who were appointed earlier this year. Additionally, Randall T. Mays, 34, and Michael Levitt, 41, were named to AMFMi's Board of Directors, increasing its size to seven members.

In May, AMFM launched a broad-based Internet strategy intended to leverage the value of the Company's leading national radio station portfolio, proprietary content, advertiser relationships and 64 million weekly listeners. AMFMi was formed to specifically develop and manage a national network of local web portals, paired with local AMFM radio stations, to create a "consumer-centric" network of affinity-based E-commerce destinations centered on music preferences and local activities.

AMFMi has been executing a technical trial in AMFM's Philadelphia and Boston clusters, where test sites include http://www.q102philly.com (WIOQ-FM), http://www.wdasfm.com (WDAS-FM), http://www.wjjz.com (WJJZ-FM), http://www.power99.com (WUSL-FM), http://www.wdasam.com (WDAS-AM) and http://www.kissfm.com (WXKS-FM). The AMFMi demonstration site can be reached at http://www.amfmi.com/demo/.

Thomas O. Hicks, Chairman and Chief Executive Officer of AMFM Inc. commented, "Extending AMFM's brand to the Internet through AMFMi will strengthen the affinity between our on-air stations and their audiences, transforming loyal listeners into active Internet participants. Jimmy has done a tremendous job with AMFM's radio assets. Given his radio industry knowledge and brand-building expertise, he is uniquely qualified to duplicate this success on the Internet as AMFMi's Chairman and CEO."

Mr. de Castro brings over 25 years of media industry experience to AMFMi. He will continue to manage the day-to-day operations of the AMFM Radio Group. A co-founder and Chief Operating Officer of Evergreen Media Corporation (AMFM's predecessor Company), Mr. de Castro gained national recognition in 1989 by engineering Evergreen's first major station turnaround at KKBT-FM in Los Angeles, repeating that feat numerous times through the turnarounds of WRCX-FM Chicago in 1994 and WKTU-FM New York in 1996, among others. His work at WKTU-FM earned Mr. de Castro, along with Scott K. Ginsburg, Radio Ink magazine's Co-Radio Executive of the Year distinction in 1995. Prior to joining Evergreen, Mr. de Castro advanced through various management positions in the radio broadcast industry, first as National Sales Manager with Golden West Broadcasting's KSFO-FM in San Francisco, then as General Sales Manager at KISS-FM in Boston and later as a General Manager with Heftel Broadcasting. Mr. de Castro is a 1974 Business and Marketing graduate of the University of Colorado and has completed executive course work at Harvard Business School.

Mr. de Castro added, "AMFMi's approach is the perfect marriage of radio and the Internet. It will bring AMFM's large, well-defined, loyal radio audiences to individually designed Web sites that meet the needs, interests and preferences of each radio station audience. And it will help build each radio station's audience, hence advertising revenues, by giving its listeners powerful new reasons -- such as unparalleled depth of information, special deals for online listeners, membership in affinity-based buying clubs, the ability to instantly order recordings as they are broadcast, and the like -- to both log on and tune in."

Randall T. Mays currently serves as the Executive Vice President and Chief Financial Officer of Clear Channel Communications, Inc. (NYSE:CCU). Prior to Clear Channel, Mr. Mays worked in the Mergers and Acquisitions department of the investment banking firm of Goldman, Sachs & Co. in New York and at the real estate firm of Trammell Crow Company. Mr. Mays earned an M.B.A. from Harvard Business School, and a B.B.A. with high honors, from the University of Texas at Austin.

Michael J. Levitt has been a Partner of Hicks, Muse, Tate & Furst Incorporated since 1996. Mr. Levitt serves as a director of AMFM Corp., Capstar Broadcasting Corporation, El Sitio, Grupo MVS, S.A. de C.V., International Home Foods, Inc., LIN Television Corp., Regal Cinemas, Inc., RCN Corporation, STC Broadcasting, Inc., and Ibero American Media Partners, L.P. He also serves on the board of several charitable institutions and on the Advisory Board of the University of Michigan Business School, the institution from which he also received his undergraduate and Juris Doctor degrees.

In addition to Thomas O. Hicks, James E. de Castro, Randall T. Mays and Michael Levitt, AMFMi's other board members include Bruce Schnitzer, R. Steven Hicks and Perry Lewis.

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.

In October, AMFM entered into a merger agreement with Clear Channel Communications, Inc. pursuant to which AMFM's stockholders will receive 0.94 shares of Clear Channel common stock for each share of AMFM common stock held on the record date of the transaction and AMFM will become a wholly owned subsidiary of Clear Channel. The merger with Clear Channel is not expected to be consummated until the second half of 2000.