FOR IMMEDIATE RELEASE

August 5, 2003

Hightower Radio Inc. has completed its acquisition of radio stations KNET-AM & KYYK-FM from North Texas Radio Group. The stations are licensed to Palestine, Texas.

Hightower Radio Inc. is headed by Jason Hightower who also owns KMOO-FM, Mineola, Texas. North Texas Radio Group is headed by Dick Witkovski who also has several radio interests in North Texas and Oklahoma. The purchase price was $750,000.

Bill Whitley represented the Buyer in this transaction.