SAN ANTONIO, May 12, 2008 (BUSINESS WIRE) -- Clear Channel Communications, Inc. confirmed today that the court
proceeding pending in San Antonio, Texas initiated by it and CC Media
Holdings, Inc. against the banks issuing debt commitments in
connection with the proposed acquisition of Clear Channel by CC Media
Holdings, Inc. is postponed until 9 a.m. Central Time on Tuesday, May
13, 2008. The postponement is to allow the parties to continue
settlement discussions that were recently initiated.

No settlement has been reached by the parties and there can be no
assurance that any settlement will be reached. Clear Channel will not
comment on any potential settlement terms or the likelihood that a
settlement agreement will be reached.

About Clear Channel Communications

Clear Channel Communications, Inc. (NYSE:CCU) is a global media
and entertainment company specializing in mobile and on-demand
entertainment and information services for local communities and
premiere opportunities for advertisers. Based in San Antonio, Texas,
the company's businesses include radio and outdoor displays. More
information is available at www.clearchannel.com.

SOURCE: Clear Channel Communications, Inc.

Clear Channel Communications
Lisa Dollinger (media), 210-822-2828
lisadollinger@clearchannel.com
or
Brainerd Communicators
Michele Clarke (media), 212-986-6667
clarke@braincomm.com
or
Clear Channel Communications
Randy Palmer (investors), 210-822-2828

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