Big City Radio to Acquire HIH; Company Announces Appointment of Charles M. Fernandez As President and Chief Executive Officer.

NEW YORK--(BUSINESS WIRE)--Nov. 2, 1999--

Big City Radio, Inc. (AMEX:YFM), an owner and operator of major market metropolitan radio stations in the United States, today announced that it has entered into a merger agreement in which the Company will acquire, in an all stock transaction, Hispanic Internet Holdings, Inc., a privately held bilingual Online Service Provider for the U.S. Hispanic and Latin American markets.

Stuart Subotnick, Chairman of Big City Radio, stated, "I am pleased to announce the appointment of Charles Fernandez as our Company's new president and chief executive officer. Charles's experience spans broadcasting, Hispanic media and the Internet, which is adding a visual component to radio. With this acquisition, we are now participating in the fast-growing radio and Internet sectors. Big City Radio's presence in major metropolitan markets presents us with a tremendous opportunity to selectively take advantage of the synergies created by combining these media."

"This is a very strategic merger," Charles Fernandez added. "The respective strengths of Big City Radio and Hispanic Internet Holdings will allow both companies to capitalize on numerous opportunities in both traditional and new media sectors. Radio continues to enjoy record growth and the Internet has yet to fire up its engines in the Hispanic and Latin American communities." He concluded, "Internet usage is exploding and we intend to capture audience share by combining certain of Big City Radio's broadcast markets with HIH's online news, entertainment, sports and e-commerce."

Charles Fernandez brings over fifteen years of experience in the broadcasting industry, having held various positions in management, sales and programming. Prior to joining Big City Radio, Mr. Fernandez founded Hispanic Internet Holdings, Inc. Until 1996, Mr. Fernandez held positions of Executive Vice President and Director of Heftel Broadcasting. Throughout his career, Mr. Fernandez has served on various corporate boards. He is a member of the National Association of Broadcasters and a graduate of Florida International University.

Fernandez replaces Michael Kakoyiannis, who has resigned to pursue other interests.

About Big City Radio

Big City Radio, Inc. owns and operates radio stations in four of the largest radio markets in the United States and the top three U.S. Hispanic markets. Its radio broadcast properties are located in or adjacent to major metropolitan markets and utilize innovative engineering techniques and low-cost, ratings-driven operating strategies to develop these properties into successful metropolitan radio stations. 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 news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as described from time to time in the SEC reports filed by Big City Radio, Inc., including its most recently filed Forms S-4/A, 10-K and 10-Q.