FOR IMMEDIATE RELEASE

October 8, 2002

Perry Broadcasting has agreed to purchase the Oklahoma radio station assets of Friends

Communications for $1.175 million.*

The Oklahoma station group consists of KRPT-FM in Anadarko, KXCA-AM in Lawton, KXCD-AM and KKEN-FM in Duncan and KDDQ-FM in Commanche.

Russell M. Perry is president of Perry Broadcasting. The company has additional radio station interests in Oklahoma City, Tulsa and Lawton.

Friends Communications, which has radio station interests in Michigan, is headed by Bob Elliot.

Bill Whitley served as the exclusive broker in this transaction.

*Pending FCC Approval