Big City Radio Doubles Presence in Windy City.

NEW YORK--(BUSINESS WIRE)--Aug. 25, 1998--

Complete Acquisition of Second Set of Synchronized Radio Stations in Chicago Market

Big City Radio Inc. (AMEX:YFM) today announced that it has completed its acquisition of two Chicago-area radio stations - WCBR-FM, Arlington Heights, IL and WLRT-FM, Kankakee, IL - which will effectively double the Company's presence in the third largest radio market in the United States.

The stations will be synchronized on Chicago's 92.7 FM frequency using Big City Radio's Synchronized Total Market Coverage technology (STMC), after which they will broadcast to an increased coverage of Chicago's Arbitron population. Arbitron is considered a leading independent provider of radio station ratings to the advertising community.

Big City Radio already owns and operates Chicago's "Classic Pop" formatted station "FM103.1, Chicago - Heart and Soul", which is in the process of undergoing STMC implementation to effect increased coverage of Chicago's Arbitron population.

Michael Kakoyiannis, President and Chief Executive Officer of Big City Radio said, "These new stations, in conjunction with our existing Chicago properties, will provide Big City Radio with duel access to broad Arbitron coverage in the country's third largest radio market at an extremely economic cost of capital. We are moving ahead with our programming research and engineering plans."

In addition, the Company announced that it has entered into an agreement to sell station WRKL-AM, Rockland, NY for an undisclosed sum.

Big City Radio Inc. acquires radio broadcast properties in or adjacent to major metropolitan markets and utilizes innovative engineering techniques and low-cost, ratings-driven operating strategies to develop these properties into successful metropolitan radio stations. Big City Radio currently owns and operates radio stations in New York, Los Angeles, and Chicago, the three largest radio markets in the United States. Stuart Subotnick, Chairman of Big City Radio Inc. and a general partner of Metromedia Company, is a majority shareholder of the Company's Common Stock.

Statements in this news release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Big City Radio to be materially different from those expressed or implied by such forward-looking statements. Such factors include shifts in population and other demographics, changes in audience tastes, the level of competition for advertising dollars, priorities of advertisers, fluctuations in operating costs, new laws and governmental regulations and policies, changes in broadcast technical requirements, changes in the willingness of financial institutions and other lenders to finance radio station acquisitions and operations, and other factors which are described in the Company's Securities and Exchange Commission filings.

    CONTACT: Media:
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              Eric Leeds or Jeff Luth, 212/696-5600