Vazquez Development Closed on Its Agreement to Purchase WJOB-AM, Hammond & WIMS-AM, Michigan City, IN from St. George Broadcasting, LLC

PRESS RELEASE

March 12, 2004

Vazquez Development, LLC has closed on its agreement to purchase the assets of radio stations WJOB-AM, Hammond, Indiana and WIMS-AM, Michigan City, Indiana for $1,525,000 from St. George Broadcasting, LLC, Robert J. Maccini, Receiver.

Robert J. Maccini was appointed the Receiver for St. George Broadcasting, LLC by the Superior Court of Indiana, Lake County.

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