Clear Channel Investments in Historic Landmark Restorations Pass the $100 Million Mark.

SAN ANTONIO -- Clear Channel Communications, Inc. (NYSE:CCU), is playing a leading role in bringing cultural landmarks back to prominence within their communities. In just the last few years, Clear Channel has invested over $100 million in restoring approximately 20 cultural landmarks throughout the United States, including theaters, music venues and public artworks in local communities.

"Witnessing the positive impact a revitalized landmark has on the surrounding community is simply amazing," commented Lisa Dollinger, Chief Communications Officer for Clear Channel Communications. "These renovations enable current and future generations to experience the grandeur of the past while breathing new life into neighborhoods nationwide."

In collaboration with local officials, preservation organizations, non-profits and real estate development firms, Clear Channel has spearheaded the renovation of The Fillmore in San Francisco, The Boston Opera House, The Baltimore Hippodrome, The Detroit State Theatre, The Cleveland Tower City Amphitheater and the Burlingame Dairy Wallscape, among others.

"The venue where you experience a performance can be as magical as the show itself," added Dollinger. "By renovating these historic local theaters and music venues, Clear Channel is bringing back the mid-sized, two-thousand seat venue."

"The leveraging of public and private money for showplaces by creative business people works well to boost downtowns," said Richard Sklenar, executive director, Theatre Historical Society of America, Elmhurst, Illinois. "Renovated theaters are economic engines that generate street traffic and increased feelings of safety, and bring customers for other businesses in the area. Perhaps most importantly renovated theaters give a sense of place to communities."

Current renovations by Clear Channel include Philadelphia's Boyd Theatre, which has been closed since 2002 after decades as a second-tier movie house. The Boyd Theatre first opened on Christmas Day in 1928 and was considered the most elegant theater in Philadelphia's premier shopping area, Chestnut Street. The Boyd Theatre is scheduled to open in fall 2006 and will feature a brand new stage house that will, for the first time ever, be able to accommodate first-class Broadway productions and performing arts, in addition to music and other live entertainment.

Clear Channel is also renovating the New Yorker Theater in Toronto, which will soon be renamed the Panasonic Theater. The theater is undergoing a complete renovation and will be the permanent installation for Blue Man Group. Renovations are scheduled to be completed in May 2005, with the show opening in June.

"The remarkable projects we have undertaken thus far have achieved the three hallmarks of any successful restoration project: historic preservation, neighborhood revitalization, and enhancement of the arts," said David Anderson, President and Chief Operating Officer of North American Theatrical for Clear Channel Entertainment. "These renovations are fitting complements to the fantastic performances that can now be experienced at these venues in Baltimore and Boston, and next year in Philadelphia."

About Clear Channel Communications

Clear Channel Communications, Inc. (NYSE:CCU) is a global media and entertainment company specializing in "gone from home" entertainment and information services for local communities and premiere opportunities for advertisers. Based in San Antonio, Texas, the company's businesses include radio, outdoor displays, live entertainment events and venues, and television stations. See us on the web at www.clearchannel.com.

Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.