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Clear Channel Outdoor Holdings, Inc. Announces Tender Offer By Clear Channel Worldwide Holdings, Inc. For Any And All Of Its Outstanding 9.25% Series A Senior Notes Due 2017 And 9.25% Series B Senior Notes Due 2017

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced today that its indirect, wholly-owned subsidiary, Clear Channel Worldwide Holdings, Inc. (“Clear Channel Worldwide”), is commencing a cash tender offer with respect to all of its $500.0 million outstanding aggregate principal amount of its 9.25% Series A Senior Notes due 2017 (the “Series A Notes”) and its $2.0 billion outstanding aggregate principal amount of its 9.25% Series B Senior Notes due 2017 (the “Series B Notes” and, together with the Series A Notes, the “Notes”) on the terms and subject to the conditions set forth in Clear Channel Worldwide’s Offer to Purchase, dated as of November 2, 2012 (the “Offer to Purchase”).

The tender offer will expire at 11:59 p.m., New York City time, on December 3, 2012, unless extended (such date and time, as the same may be extended, the “Expiration Date”) or terminated by Clear Channel Worldwide. Under the terms of the tender offer, holders of Notes that validly tender their Notes on or prior to 5:00 p.m., New York City time, on November 16, 2012 (such date and time, as the same may be extended, the “Early Tender Date”) will receive total consideration of $1,074.38 per $1,000.00 principal amount of Notes validly tendered and accepted for payment, which includes an early tender payment of $30.00 per $1,000.00 principal amount of Notes. Clear Channel Worldwide intends to pay the total consideration, plus accrued and unpaid interest up to, but not including, the date of payment, on an early settlement date, which is expected to occur promptly after the Early Tender Date and the satisfaction or waiver of the conditions to the tender offer. The tender offer consideration for notes validly tendered after the Early Tender Date but on or before the Expiration Date and accepted for payment will be $1,044.38 per $1,000.00 principal amount of Notes.

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