On Top Communications Acquires KNOU-FM from JP Broadcasting, LLC

FOR IMMEDIATE RELEASE

January 4, 2002

On Top Communications has agreed to purchase the assets of Radio Station KNOU-FM licensed to Empire, Louisiana and serving the Greater New Orleans market from JP Broadcasting, LLC for $8.5 million.*

On Top Communications is headed by Steve Hegwood formerly with Radio One who left to form his own company a couple years ago. JP Broadcasting is headed by Chris Devine and Bruce Buzil from Chicago. JP purchased the station just over a year ago for $3.5 million.

KNOU-FM is a Class C2 FM at 104.5 Mhz programming Urban and licensed to Empire, Louisiana where it covers the New Orleans market from its antenna south of the city.

Greg Merrill, Eddie Esserman and George Reed represented the parties in this transaction.

* Pending FCC Approval

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