Clear Channel Creed

We are in the business of helping our customers grow their businesses. We do this effectively with our wide variety of media and entertainment products.

We believe in maximizing our customer's satisfaction, we will deserve and will earn their continued loyalty. Our goal is to have long term, mutually profitable relationships.

We believe in providing superior value to customers through high quality, technologically advanced, fairly priced services designed to meet customer needs better than all the possible alternatives.

We believe Clear Channel's people are our most important asset. Our teams make the critical difference in how we perform and their skills, talents and determination separate us from our competitors. We also believe people can achieve their full potential when they enjoy their work, so it is a priority to provide a workplace where growth, success and fun go hand in hand.

We believe we have an obligation for the well-being of the communities in which we live. We further believe the future success of our communities and the industries where we do business is dependent upon the responsibility we feel, the high standards we set and the positive impact our actions have.

We believe excellence is the standard and we seek to achieve excellence by encouraging and nourishing these core values:

• Respect for the individual.
• Honest, open communication.
• Individual development and satisfaction.
• A sense of ownership in Clear Channel's success.
• Participation, cooperation and teamwork.
• Creativity, innovation and initiative.
• Prudent risk-taking.
• Recognition and rewards for achievement.

We believe success is measured by:

• Achieving leadership in the markets we serve.
• Developing our own people to form the building blocks of our internal growth and expansion.
• Maintaining the highest standards of ethics and integrity in every action we take and in everything we do.

We believe the ultimate measure of our success is to provide a superior value to our stockholders.

This Clear Channel Creed was written 30 years ago by Clear Channel’s Founder Lowry Mays. This Creed exhibits the operational vision for the company. It has, surprisingly, stood the test of time and remains the guiding light for our employees even during a time of growth and change. The Clear Channel Family is very proud of this Creed.