FOR IMMEDIATE RELEASE

May 15, 2002

Raman Communications II, Ltd, has agreed to purchase the assets of radio station KHDY-FM, Plainview, TX, from KBL Broadcasting Corporation for $750,000.*

Raman Communications, II is headed by Brad Moran of Lubbock, TX. KBL Broadcasting Corporation is headed by Ken Lane of Haskell, TX.

Bill Whitley served as the exclusive broker in this transaction.

* Pending FCC Approval