Clear Channel Taxi Media and London Fleet Advertising & Billboards to Provide Wrap Advertising on London Taxis in The U.S.

Entertainment Editors/Business Editors

LAS VEGAS--(BUSINESS WIRE)--Nov. 10, 2003

Clear Channel Communications Inc. (NYSE:CCU)

Clear Channel Taxi Media, a division of Clear Channel Outdoor, and London Fleet Advertising & Billboards are pleased to announce the signing of an exclusive sales representation agreement between the two companies to be the providers of wrap advertising on London Taxis throughout the United States.

Bill Kurr, President of Clear Channel Taxi Media, commented, "The wrap advertising program for the London Taxis will invigorate the taxi media market as a whole and will bring a new sparkle to cities that have the foresight to participate in this new venture."

Marc Klein, President & CEO of London Fleet echoed Kurr's remarks: "The addition of London Taxis to taxicab fleets in the U.S. will take these businesses to the next level. Since this is the original London Taxi that is made in England and modified for U.S. use, the taxi passenger benefits from all of the features that visitors to London experience. Tourist transportation gets an immediate face lift."

London Fleet was created to distribute, finance and wrap London Taxis throughout the United States, and creates customized financing programs in conjunction with wrap advertising in an effort to make the world's finest purpose-built taxicab more affordable to fleet owners in the U.S. Each vehicle is the original London Taxi built in England, seats five adult passengers in the rear compartment, has an integrated child safety seat and is designed to last 500,000 miles. In addition, the London Taxi has advanced disability features, which include a wheelchair access ramp built into the floor and large grab-handles for people with arthritis. London Taxis with wrap advertising have been in Chicago and are set to debut as taxi cabs in San Francisco and Los Angeles early next year.

Charlie DiToro, Chief Operating Officer of Clear Channel Taxi Media, remarked: "We are most excited to introduce London Taxis to cities throughout the U.S. The London Taxi wrap advertising fits naturally into major marketing campaigns and the instant 'wow' factor makes people stop and point at the car. It is a true attention grabber. We believe London Taxis will be enthusiastically received by taxicab companies, their passengers and the advertisers who will embrace these virtual traffic stoppers."

Robert Klein, Vice President of Finance of London Fleet, added: "I look forward to connecting national advertisers to what is certainly a prized media property in major cities throughout the United States. Facilitating the introduction of the London Taxis into taxicab fleets will benefit the riding public and industry in general."

About Clear Channel Communications Inc.

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 65 countries around the world.

About London Fleet Advertising and Billboards Inc.

London Fleet (www.london-fleet.com) works directly with the North American distributor of the London Taxis (www.ltna.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. Visit our Web site at www.clearchannel.com.