Clear Channel Taxi Media LLC Acquires Yellow Checker Star Cab Displays.

Business Editors

PHOENIX--(BUSINESS WIRE)--Nov. 2, 2001

Clear Channel Taxi Media LLC, a division of Clear Channel Outdoor, recently acquired the taxi top advertising displays of Yellow Checker Star Cab Company, announced Tony Preus, Vice President/General Manager of Clear Channel Taxi Media (CCTM).

This agreement makes the company the largest seller of taxi-top advertising in Nevada.

"We are pleased to see such an expansion with the mobile transit advertising market," said Preus. "Our taxi tops will now number more than 2,000 through this expansion. This allows us to serve our existing clients with more opportunities to advertise, as well as open new doors for customers who want an aggressive campaign with multiple taxi tops and our other taxi advertising mediums," he said.

In addition to handling the advertising rights, the taxi-top display units will be reconstructed to reflect a higher quality product and signature design, which CCTM management attributes to the company's increasing success in taxi advertising.

"We reviewed the existing taxi-top display and took it to a new level," said Preus. "We will reinstall the new tops with our signature lighting package and new modern design, which will increase the face size of the advertisement and allow for a larger, more optimum view. The bigger and brighter the advertisement, the more potent the message that will be delivered," he said.

In addition, CCTM has also acquired the advertising sales and management of Yellow Checker Star's 60 shuttle bus fleet.

The Company opened in 1995 under the name of Taxi Tops, and was formally bought by Clear Channel Outdoor in August 2000. In addition to taxi cab top advertising displays, the company is also responsible for 24/7 Magazine, taxi wraps, cab interior advertising, Taxi TV, shuttle bus, and taxi trunk advertising.

"Taxi advertising is a powerful medium," said Preus, who started with the company six years ago alongside the company's president, Laurence Hallier. "We have grown with the territory as the Las Vegas market has expanded."

"Taxis are everywhere and their visual-reach and impressions are enormous. Nowhere except for New York City will you find such an intense cluster of mobile billboards in such a small radius like here in Las Vegas," added Preus.

CCTM will add new jobs to help facilitate the addition of the new taxi top displays, which will include maintenance, installation and sales support.

Clear Channel Taxi Media, a division of Clear Channel Outdoor and Clear Channel Worldwide, is the leader in the taxi related advertising industry, reaching more than 70 million people a day, with the traditional tops, Taxi Wraps and Taxi TV. The company operates in 14 major U.S. cities with approximately 22,000 display panels.

About Clear Channel Worldwide

Clear Channel Worldwide (Clear Channel Communications Inc.) (NYSE:CCU), headquartered in San Antonio, Texas, is a global leader in the out-of home advertising industry with radio and television stations, outdoor displays, and entertainment venues in 64 countries around the world. Including announced transactions, Clear Channel operates approximately 1,225 radio and 37 television stations in the United States and has equity interests in over 240 radio stations internationally. Clear Channel also operates approximately 776,000 outdoor advertising displays, including billboards, street furniture and transit panels across the world. Clear Channel Entertainment is one of the leading diversified promoters, producers and presenters of live entertainment events and is a leading fully integrated sports marketing and management company.

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.

Visit our Web site at www.clearchanneloutdoor.com.