Clear Channel Communications Lands Premier Spot on Institutional Investor’s Top Corporate Rankings

Channel Communications, Inc. (NYSE: CCU), today announced that for the second straight year the company has been ranked the most shareholder-friendly company in the Radio & TV Broadcasting sector. The company also announced that its Chief Financial Officer, Randall Mays, was included in Institutional Investor’s top CFOs list. The surveys appear in the magazine’s March 2007 and February 2007 issues, respectively.



Exactly one year after its first survey Institutional Investor surveyed more than 760 portfolio managers and investment analysts from nearly 400 companies and with combined assets of $6.3 trillion in U.S. stocks to identify America’s Most Shareholder Friendly companies. In making their choices, participants were clear. They want companies to provide clear financial information; proof of good governance; access to company officers; and a clear justification of executive compensation.



“As we continue to build value for our shareholders, Clear Channel has always been keenly focused on serving our investor base. We listen carefully to the investment community, providing them with the access and information that they need to make informed decisions,” said Mark P. Mays, Chief Executive Officer of Clear Channel Communications. “Being chosen Institutional Investor’s most shareholder friendly company in the broadcasting sector for the second year in a row is a true honor and testament to our commitment to our shareholders.”



In addition to its accolades as Institutional Investor’s Most Shareholder Friendly Company, Clear Channel Communications President and Chief Financial Officer, Randall Mays was also included on the magazine’s listing of top CFOs. Nearly 800 analysts and portfolio managers at more than 400 money management firms with a combined oversight of $6.3 trillion in U.S. stocks participated in the selection of Institutional Investor’s Top CFOs listing. These money managers were asked one question: “Who is the best CFO in the sector for which you are responsible?” Randall Mays scored the highest among these money managers, earning him the honor of being named the top-performing CFO among Radio & TV Broadcasting companies. This marks the third time in four years that Randall Mays was named by Institutional Investor as top CFO in the broadcasting sector also having received this recognition in the magazine’s 2004 and 2005 surveys.



“Randall’s financial acumen and commitment to best practices have made him a favorite of shareholders and analysts alike,” continued Mark Mays. “Among his many talents, he combines excellent strategic sense with great credibility and candor. We would like to congratulate him on this honor.”