8/7/2000
TRIAD BROADCASTING COMPANY ACQUIRES TALLAHASSEE RADIO STATIONS IN
$15 MILLION DEAL
Fast-Growing Triad Now Counts 42 Radio Stations Owned or Announced Since Funding in April

MONTEREY, CA, and TALLAHASSEE, FL, August 7, 2000 – Triad Broadcasting Company, L.L.C., ofMonterey, CA, owner and operator of small and mid-market radio stations, today announced that the company has completed its acquisition of three Tallahassee radio stations from Capital City Radio Partners, Inc., in a transaction valued at approximately $15 million. The three stations, WWFO-FM, WAIB-FM and WHTF-FM, will be managed by Vice President and Market Manager, Hank Kestenbaum, a 25-year veteran of the radio broadcasting industry. The Florida stations complement a quality portfolio of radio station clusters across the U.S. that Triad Broadcasting has acquired or announced plans to acquire since the company’s receipt in April of equity capital from major investors. These investors include Norwest Equity Partners, of Minneapolis; Shamrock Capital Investors, Inc., of Burbank, CA; Bank of America Capital Investors, of Chicago; George W. Couch, a major Anheuser-Busch distributor in California, and members of Triad’s management team. Triad Broadcasting Company was formed in July, 1999, by President and Chief Executive Officer, David J. Benjamin, founder of Community Pacific Broadcasting Company and former Managing Director of Capstar Broadcasting Corporation. With the addition of the three Tallahassee stations, Triad Broadcasting currently owns and/or operates a total of 26 radio stations, including: six radio stations in Biloxi, MS; five radio stations in Lincoln and Beatrice, NE; five radio stations in Fargo, ND; and seven radio stations in Rapid City, SD. In addition, Triad announced in May that it will acquire 15 radio stations from Adventure Communications, Inc., of Bluefield, WV, including nine stations in Bluefield, WV, and six stations in the Hilton Head, SC-Savannah, GA, market. Triad will also assume a sales and local marketing agreement (LMA) with WGZO-FM, licensed to the Hilton Head, SC-Savannah, GA, market, upon completion of this transaction, which is expected by September 1. David Benjamin said: “We are very pleased to welcome the outstanding radio professionals at WWFO-FM, WAIB-FM and WHTF-FM to Triad’s family of stations. Triad is proud to be a part of Florida’s capital city through this winning trio of radio stations. We look forward to providing this vibrant market with the high quality radio programming and service that is fast becoming synonymous with the Triad name. Our continued focus on operational excellence through solid station clusters in developing small and mid-markets, is a key factor in the momentum that Triad is building in the radio broadcasting industry. ”