Big City Radio Reports Year-End 2000 Results.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 2, 2001

Big City Radio, Inc. (Amex:YFM) today announced its financial results for the year ended December 31, 2000.

Gross revenues for the year ended December 31, 2000 were $26.9 million, an increase of $3.6 million, or 15.4%, over gross revenues for the year ended December 31, 1999. Net revenues for the year ended December 31, 2000 were $23.8 million, an increase of $3.2 million, or 15.7%, over net revenues for the year ended December 31, 1999.

For the year ended December 31, 2000, the Company reported a broadcast cash deficit from station operations of $2.2 million, representing a decreased broadcast cash deficit of $756,000 compared to the year ended December 31, 1999. For the year ended December 31, 2000, operating expenses for the TodoAhora.com Internet operations were $1.6 million.

The net loss for year ended December 31, 2000 was $31.2 million, or $2.15 per share, compared to a net loss of $25.8 million, or $1.83 per share, for the year ended December 31, 1999.

As the Company is still in the development stage, the Company expects to generate significant operating and net losses as it continues to develop its stations, its Internet operations and its other businesses. Management believes that its goals will be achieved through the Company's successful implementation and execution of its growth strategy, which is contingent upon improving the liquidity at the Company. Cash on hand and amounts available from the Company's revolving credit facility are not sufficient to support the Company's operations through December 31, 2001. The Company is seeking a new debt facility to finance its operating and debt service requirements and capital expenditure programs through December 31, 2001. There can be no assurance that any such financing will be available or available on acceptable terms.

Big City Radio, Inc. owns 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, Chicago, and Phoenix, four of the largest radio markets in the United States, an in-house radio rep firm, and a Hispanic publishing business and internet portal website in Miami. 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.

This partial discussion of the statements of financial condition and operations of the Company should be read in conjunction with the consolidated financial statements and related notes contained in the Company's Form 10-K for the year ended December 31, 2000, which will be filed shortly with the U.S. Securities and Exchange Commission.

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, Inc. 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 government 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.

                         BIG CITY RADIO, INC.
                 Consolidated Statements of Operations
               (in thousands, except per share amounts)

                                                   Year Ended
                                                   December 31,
                                            2000                1999

Gross revenues                            $ 26,895           $ 23,296
Agency commissions                           3,054              2,692
     Net revenues                           23,841             20,604
Station operating expenses                  26,047             23,566
     Broadcast cash flow                   (2,206)            (2,962)
Internet operating expenses                  1,569                 51

Corporate, general and
 administrative expenses                     3,845              4,371
Cost of abandonment of
 station acquisition agreement                 550
Depreciation and amortization                4,867              3,812
     Operating loss                       (13,037)           (11,196)
Gain on sale of station
                                                 -                663
Interest expense, net                       18,111             15,001
Other expense, net
                                                83                337
Loss before benefit
 from income taxes                        (31,231)           (25,871)
Income tax benefit
                                                63                 63

     Net loss                            $(31,168)          $(25,808)

Basic and diluted
 net loss per share:                     $  (2.15)          $  (1.83)

Weighted average number
 of shares outstanding                      14,475             14,136


                         BIG CITY RADIO, INC.
                      Consolidated Balance Sheets
                            (in thousands)


                                                    Year Ended
                                                    December 31,

                                              2000              1999

ASSETS
Current assets
 Cash, cash equivalents
  and marketable securities                 $ 3,559         $ 12,499
 Accounts receivable                          4,716            6,090
 Interest receivable                             38              526
 Prepaids and other current assets              981              920

        Total current assets                  9,294           20,035

Property and equipment, net                   7,148            7,145
Intangibles, net                            110,476          113,873
Deferred financing fees                       2,747            3,399
Other assets                                    181               59

        Total assets                      $ 129,846        $ 144,511


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
 Accounts payable                           $ 1,337           $  822
 Accrued expenses and other
  current liabilities                         2,174            4,120

        Total current liabilities             3,511            4,942

Notes payable, long-term debt                   621              498
Senior discount notes                       170,296          152,596
Deferred income tax liabilities               2,347            2,410
Preferred stock
Common stock
                                                145              145
Additional paid-in-capital                   29,492           29,458
Deficit                                     (76,566)         (45,538)

 Total liabilities and stockholders'
  equity                                  $ 129,846        $ 144,511