FOR IMMEDIATE RELEASE

January 10, 2003

Perry Broadcasting of Oklahoma has closed on its purchase of Oklahoma radio stations KRPT-FM, Anadarko, KXCA-AM, Lawton, KXCD-AM & KKEN-FM, Duncan and KDDQ-FM, Commanche, from Friends Communications for $1.175 million.

Perry Broadcasting, headed by Russell and Kevin Perry, also owns stations in Oklahoma City, Tulsa and Lawton, OK.

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

Bill Whitley served as the exclusive broker in this transaction.