American Radio Systems reports strong first quarter results.

BOSTON, Mass.--(BUSINESS WIRE)--May 1, 1996--American Radio Systems (NASDAQ:AMRD) today reported solid increases in revenues and broadcast cash flow.

For the first quarter of 1996, net revenues increased 19.2 percent to $23.6 million from $19.8 million during the same period in 1995. Broadcast cash flow increased 21.4 percent to $5.1 million from $4.2 million. These increases resulted from continued improvements in radio station operations and from the impact of station acquisitions.

On a pro forma (same station) basis for the first quarter of 1996, net revenues increased 7.2 percent and broadcast cash flow grew 20.9 percent to $5.2 million from $4.3 million during the same period in 1995.

Steve Dodge, Chairman and CEO, stated, "In terms of year to year comparison, we have viewed Q1 of 1996 as our greatest challenge because of the extraordinary strength of Q1 1995 and because of investment spending in product and marketing at several of our key stations. We're pleased with our Q1 performance, and we remain very optimistic about the balance of the year as demand is picking up across our markets and as we begin to enjoy the benefit of very solid overall ratings in the winter book."

Amercian Radio Systems is a national radio broadcasting company which acquires, develops and operates radio stations in markets where it can be a leading radio operator. The company, which ranks among the ten largest U.S. radio broadcasting companies, owns and/or manages twenty-five FM and eleven AM stations in Boston, Baltimore, Sacramento, Hartford, Las Vegas, Austin, Buffalo, West Palm Beach, Rochester and Dayton. The company also has option and/or agreements to buy additional radio stations in Boston, Philadelphia, Detroit, Portland, Sacramento, Hartford, Las Vegas, San Jose, Buffalo, West Palm Beach, Rochester, Fresno, Omaha and Dayton. -0-

                        AMERICAN RADIO SYSTEMS CORP.
                   Consolidated Statements of Operations

                                  Three Months Ended March 31,
                                   1996                  1995

Net revenues                    $23,648,253          $19,841,727
Operating expenses:
 Excluding depreciation
  and amortization and
  corporate general and
  administrative
  expenses                       18,574,257           15,622,196
 Depreciation and
  amortization                    2,200,192            2,761,284
 Corporate general and
  administrative                  1,081,276              786,097
Total Operating Expenses         21,855,725           19,169,577
Operating income                  1,792,528              672,150
Other income (expense):
  Interest income                 2,117,577               88,908
  Interest expense               (4,702,220)          (3,181,644)
  Gain (loss) on sale
   of assets and other              (34,758)          11,594,607
Total other income (expense)     (2,619,401)           8,501,871
Income (loss) before income
 taxes                             (826,873)           9,174,021
 Benefit (provision) for
  income taxes                      371,264           (3,967,187)
Net income (loss)                  (455,609)           5,206,834
Redeemable common and
 preferred stock dividends               --             (518,545)
Net income (loss) applicable to
 common shares                    $(455,609)          $4,688,289
Primary and fully diluted
 earnings (loss) per common
 share                               $(0.03)               $0.50
Weighted average common share
 and share equivalents
 outstanding                     17,901,023            9,299,760

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CONTACT: American Systems

Joe Winn or Bruce Danziger, 617/375-7500