Interep National Radio Sales, Inc. Announces Continued Growth During First Half of 1999.

NEW YORK--(BUSINESS WIRE)--August 18, 1999--

Interep National Radio Sales, Inc. today announced increased commission revenue and operating EBITDA before contract termination revenue, for both the second quarter and the first half of 1999 as compared to the same periods last year.

The Company reported that its positive revenue trend continued with commission revenue for the six months reaching $41.7 million, a 9.8% increase over the $38.0 million for the first half of 1998. "I am very pleased with the results for the period, notably our continuing revenue growth and the improvement in operating EBITDA," commented Ralph C. Guild, CEO of Interep. " Our strong position in the radio business provides us with an excellent foundation for our expansion into the Internet."

Operating EBITDA, operating income before contract termination revenue, depreciation and amortization, increased over 25% to $5.9 million, from $4.7 million, for the six months ended June 30, 1999 and 1998, respectively. Bill McEntee, Interep's CFO commented that the Company's operating EBITDA increased, although it lost $0.5 million from its Internet business.

Interep, the largest independent national spot radio advertising firm in the United States, serves radio stations in all 50 states. -0-

                    Interep National Radio Sales, Inc.                         Summary Operating Data                         (dollars in thousands)                                 Three Months Ended     Six Months Ended                                     June 30,              June 30,                                  1999      1998        1999      1998                                --------------------  -----------------                                --------------------  -----------------  Revenue:     Commissions                   24,225    22,104    41,736    38,002     Contract termination           1,237     1,850     3,742    25,966                                --------------------  -----------------                                --------------------  -----------------      Total                         25,462    23,954    45,478    63,968  Selling, general and     administrative expenses       18,599    16,859    35,844    33,292  Operating EBITDA, excluding     contract termination revenue   5,626     5,245     5,892     4,710  EBITDA                             6,863     7,095     9,634    30,676  Depreciation and amortization      6,744     8,745    16,246    17,841  Operating income (loss)              119    (1,650)   (6,612)   12,835  Net income (loss)                 (1,363)   (1,703)   (6,740)    6,251