Regent Comm. Aquires WLSP-AM and WRXF-FM from Covenant Comm.

FOR IMMEDIATE RELEASE

December 3, 2001

Regent Communications, Inc. has agreed to purchase the assets of radio stations WLSP-AM and WRXF-FM, Lapeer, MI, from Covenant Communications Corporation for $1.3 million cash.*

George R. Reed and Eddie Esserman of Media Services Group represented Covenant Communications Corporation in this transaction.

* Pending FCC Approval

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