EXHIBIT 99.1
CLEAR CHANNEL COMMUNICATIONS, INC.
EXTENDS EXCHANGE OFFER
FOR EURO 650,000,000 NOTES DUE 2005
San Antonio, Texas, December 20, 2000 - Clear Channel Communications, Inc. (the
"Company") has extended its offer to exchange Euro 650,000,000 6.50% Notes due
2005 issued by the Company in July 2000 (the "Existing Notes") for 6.50% Notes
due 2005 which have been registered with the U.S. Securities and Exchange
Commission (the "Exchange Offer").
The Exchange Offer commenced on November 13, 2000 and has been extended to
expire at 5:00 p.m., New York City time on January 12, 2001.
All Existing Notes that are validly tendered and not validly withdrawn will be
exchanged. Holders may withdraw the tender of their Existing Notes at any time
prior to 5:00 p.m., New York City time on January 12, 2001.
To tender their Existing Notes in the Exchange Offer, holders thereof which are
direct or indirect participants in the Depository Trust Company, Euroclear or
Clearstream, Luxembourg must transmit to The Bank of New York, as exchange agent
on or prior to January 12, 2001, either a properly completed and executed Letter
of Transmittal or a computer generated message forming a part of confirmation of
DTC, Euroclear or Clearstream, Luxembourg book-entry transfer in which they
acknowledge and agree to be bound by the terms of the Letter of Transmittal.
Copies of the Exchange Offer Prospectus, dated November 9, 2000, the Letter of
Transmittal and all other documents pertinent to the Exchange Offer may be
obtained from the exchange agent at the following addresses:
The Bank of New York The Bank of New York
101 Barclay Street 30 Cannon Street
New York, New York 10286 London EC4M 6XH
Attention: Santino Ginocchietti Attention: Linda Read or Emma Wilkes
Tel: (212) 815-6331 Tel: (44 171) 893-7284
Fax: (212) 815-6339 Fax: (44 171) 893-6369
