FOR IMMEDIATE RELEASE

May 19, 2003

M&M Broadcasters, LTD has agreed to purchase KTON-AM, licensed to Belton, Texas, from Sheldon Communications. The President of M&M Broadcasters is Gary Moss. Sheldon Communications is headed by Ken Williams. The purchase price is $400,000.*

M&M Broadcasters also owns KWOW-FM, Clifton/Waco, TX and KFTW-FM, Glen Rose, TX. Sheldon Communications has no other broadcast interests.

Bill Whitley of our Dallas office served at the exclusive broker in this transaction.

* Pending FCC Approval