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Clear Channel Communications, Inc. Announces Assumption Of Obligations Under 10.0% Senior Notes Due 2018 And Redemption Of Certain Series Of Legacy Notes

Following the Assumption, the Notes are the senior unsecured obligations of CCU and are not guaranteed by any of CCU’s parent companies or any of its subsidiaries.

The Notes were offered only to “qualified institutional buyers” in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, the 2014 legacy notes, the 2015 legacy notes or any other securities.

About Clear Channel Communications

Clear Channel Communications is one of the leading global media and entertainment companies specializing in radio, digital, outdoor, mobile, live events, and on-demand entertainment and information services for local communities and providing premier opportunities for advertisers.

Copyright Business Wire 2010
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