Clear Channel Announces Year-End/4th Quarter 2006 Earnings Release

Clear Channel Communications, Inc. (NYSE:CCU) and Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) confirmed today that both companies will release year-end/fourth quarter 2006 financial results before the market open on Friday, February 23, 2007 at approximately 7:00 a.m. Eastern Time. As a result of the Clear Channel Communications, Inc. proposed merger transaction that was announced on November 16, 2006, the companies will not be hosting a teleconference or webcast to discuss results. About Clear Channel Communications Clear Channel Communications, headquartered in San Antonio, Texas, is a global leader in the out-of-home advertising industry with radio and television stations and outdoor displays in various countries around the world. About Clear Channel Outdoor Clear Channel Outdoor, headquartered in San Antonio, Texas, is a global leader in the outdoor advertising industry providing clients with advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays. For further information contact Randy Palmer, Senior Vice President of Investor Relations at 210-822-2828 or visit our web site at www.clearchannel.com. Certain statements in this release could constitute "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Other key risks are described in the Clear Channel Communications' and/or Clear Channel Outdoor’s reports filed with the U.S. Securities and Exchange Commission. Except as otherwise stated in this news announcement, Clear Channel Communications and/or Clear Channel Outdoor do not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.