Jacor: To Add FM Signal Vancouver, WA FOR IMMEDIATE RELEASE Contact: Pam Taylor 606.655.6523 JACOR COMMUNICATIONS, INC. TO PURCHASE FM CONSTRUCTION PERMIT COVINGTON, KY February 5, 1998 -- Jacor Communications, Inc. (Nasdaq: JCOR) entered into a binding agreement with Smith Broadcasting, Inc. to purchase a construction permit for a new FM radio station in Vancouver, Washington. Jacor paid Smith $200,000 on a non-refundable basis and has placed $2 million in escrow pending the closing of the transaction. In turn, Smith entered into a settlement agreement with other competing applicants for the construction permit in which they withdrew their applications in exchange for total cash consideration of approximately $18.4 million. Jacor has agreed to provide the cash on behalf of Smith, all of which has been placed in escrow pending the closing of the transaction. The transaction is subject to FCC approval. Jacor is the nation's second largest radio company measured by total stations. Including announced pending acquisitions, Jacor now owns, operates or represents 192 radio stations in 49 broadcast areas and WKRC-TV in Cincinnati. Additionally, Jacor's wholly owned subsidiary Premiere Radio Networks is the country's third largest provider of syndicated radio programming including the nation's top three radio talk shows: The Rush Limbaugh Show, The Dr. Laura Schlessinger Show and Dr. Dean Edell. Premiere recently acquired the rights to highly popular overnight talk show host Art Bell. Jacor also owns a satellite distribution service, NSN, which provides bi-directional communications among multiple networks. Jacor plans to pursue growth through continued acquisitions of complementary radio stations in existing broadcast locations, and radio groups or individual stations with significant presence in other attractive locations. Additionally, Jacor plans to grow in other broadcast related products and businesses. Visit www.cfonews.com/jcor/ for more information on Jacor Communications. Ends.