Beasley Broadcast Group to Report Third Quarter Results That Exceed Guidance.

Business Editors

NAPLES, Fla.--(BUSINESS WIRE)--Oct. 14, 2002

Beasley Broadcast Group, Inc. (Nasdaq: BBGI), a large- and mid-size market radio broadcaster, today announced that for the third quarter ending September 30, 2002, the Company expects to exceed previously issued guidance of approximately $27.5 million in actual revenue, approximately $8.0 million in broadcast cash flow (BCF) and after-tax cash flow of approximately $0.12 per share.

The Company also announced that it expects to exceed its same-station results guidance for the quarter (comparing stations operated by the Company at September 30, 2002 to those same stations operated by the Company at September 30, 2001) of flat revenue against year-ago levels and an approximate 8% increase in BCF.

The Company will release full third quarter financial results at 6:00 a.m. EST on October 30, 2002 and host a conference call and simultaneous webcast that morning at 10:00 a.m. EST. Both the call and webcast are open to the general public. The dial in number for Beasley's conference call is 973/582-2785; please call five minutes in advance to ensure that you are connected prior to the presentation. Interested parties may also access the live call on the Internet at the Company's Web site at www.bbgi.com; allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the call can be accessed for 5 days on the Internet from the Company's Web site or for 24 hours via telephone at 973/341-3080 (reservation #3531204).

Founded in 1961, Beasley Broadcast Group, Inc. is a radio broadcasting company that, upon completion of pending dispositions, owns or operates 41 stations (26 FM and 15 AM) located in ten large- and mid-size markets in the United States.

Although broadcast cash flow and after-tax cash flow are not measures of performance or liquidity calculated in accordance with generally accepted accounting principles, the Company believes that these measures are useful to an investor in evaluating its performance. These measures are widely used in the broadcast industry to evaluate a radio company's operating performance. However, investors should not consider these measures in isolation or as substitutes for operating income, cash flows from operating activities or any other measure for determining our operating performance or liquidity that is calculated in accordance with generally accepted accounting principles. In addition, because broadcast cash flow and after-tax cash flow are not calculated in accordance with generally accepted accounting principles, they are not necessarily comparable to similarly titled measures employed by other companies.

This news announcement contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "intends", "expects," "expected," "anticipates" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in the Company's reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the radio broadcast industry generally and, accordingly, the Company's actual performance and results may vary from those stated herein. These statements do not include the potential impact of any acquisitions or dispositions announced or completed after October 11, 2002. The Company undertakes no obligation to update the information contained herein.