For Clear Channel Communications, Inc.
Investors: Randy Palmer, 210-822-2828 Senior Vice President of Investor Relations	Media: Lisa Dollinger, 210-822-2828 Chief Communications Officer Michele Clarke, 212-986-6667 Brainerd Communicators

Clear Channel Sets Shareholders Special Meeting Date Of July 24, 2008 – Record Date of June 19, 2008

SAN ANTONIO, TX, June 12, 2008 — Clear Channel Communications, Inc. (NYSE: CCU), a global leader in the radio broadcasting and out-of-home advertising industries, today announced that Clear Channel will hold a special meeting of its shareholders on July 24, 2008, at which the proposed merger with the group led by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P will be considered. Clear Channel shareholders of record as of 5:00 p.m. New York City time on June 19, 2008, will be entitled to vote at the special meeting.  The parties expect that closing will occur on July 30, 2008.  Further details regarding the proposed merger, including such specifics as the special meeting time and location, will be provided in an updated proxy statement/prospectus, which the Company expects to file in the near future.

Important Additional Information Regarding the Merger and Where to Find It:
In connection with the proposed merger, CC Media Holdings, Inc. and the Company have filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 that contains a proxy statement/prospectus and other documents regarding the proposed transaction.  Before making any voting or investment decisions, security holders of the Company are urged to read the proxy statement/prospectus and all other documents regarding the proposed transaction carefully in their entirety, because they contain important information about the proposed transaction.  Security holders of the Company may obtain free copies of the proxy statement/prospectus and other documents filed with, or furnished to, the SEC at the SEC’s website at http://www.sec.gov.  In addition, a security holder who wishes to receive a copy of these materials, without charge, should submit a request to the Company’s proxy solicitor, Innisfree M&A Incorporated, at 501 Madison Avenue, 20th Floor, New York, New York 10022 or by calling Innisfree toll free at (877) 456-3427.  The final proxy statement/prospectus will be mailed to security holders of the Company when available.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on current Clear Channel management expectations.  Those forward-looking statements include all statements other than those made solely with respect to historical fact.  Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements.  These factors include, but are not limited to, (1) the occurrence of any event,  change or other circumstances that could give rise to the termination of the merger agreement; (2) the outcome of any legal proceedings that have been or may be instituted against Clear Channel and others relating to the merger agreement; (3) the inability to complete the merger due to the failure to obtain shareholder approval or the failure to satisfy other conditions to completion of the merger; (4) the failure to receive the fun