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Children's Broadcasting Corporation Completes Stock Offering.

MINNEAPOLIS--(BUSINESS WIRE)--March 8, 1996--Children's Broadcasting Corporation (CBC, Nasdaq National Market: AAHS) today announced the completion of its public offering ("Offering") for 2.1 million shares of common stock at $10 per share.

The Offering was co-managed by Prudential Securities Incorporated and Brenner Securities Corporation.

Proceeds of the Offering will be used to acquire radio stations in the New York and Detroit markets, reduce debt and for working capital. The total number of shares of common stock to be outstanding after the Offering is 5,327,860, trading on the Nasdaq National Market under the symbol AAHS.

Children's Broadcasting Corporation is the only full-time national broadcaster of children's radio programming in the United States. The Company develops, produces and distributes programming that is entertaining and informative, and directed to the interests and radio listening patterns of pre-teenage children and their families. The Company's Radio AAHS format provides 24-hour programming featuring music, stories, call-in segments, quizzes and current events features.

The programming varies by time of day in order to attract that component of its prospective audience most likely to be listening. The programming originates at the Company's flagship station WWTC in Minneapolis, and is distributed via satellite to a network of radio stations around the country, which includes owned and operated as well as affiliated stations in 30 cities including New York, Los Angeles, Dallas, Detroit, Washington, D.C., Minneapolis, Kansas City and Denver. To date, the Company has developed strategic relationships with ABC Radio Networks, Inc., The Walt Disney Company and Time Warner, Inc.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Information is available through the CBC Investor Relations Department, 724 First Street North, 4th Floor, Minneapolis, MN 55401, 612/330-9524.

CONTACT: Children's Broadcasting Corporation

Christopher T. Dahl or Joy Plaschko, 612/330-9524
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Publication:Business Wire
Date:Mar 8, 1996
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