EXHIBIT 99.1 Press Release of Clear Channel Communications, Inc. issued June 6,
2000
For Immediate Release
CLEAR CHANNEL ANNOUNCES
EURO-DENOMINATED BOND TRANSACTION
San Antonio, Texas, June 6, 2000 Clear Channel Communications Inc. announced
today that it will issue Euro-denominated bonds. The transaction will likely be
in global format and is expected to have a medium-term maturity. A European
roadshow is planned and further details will be announced within the next
several weeks. ABN AMRO and Deutsche Bank will joint lead-manage the
transaction.
About Clear Channel Communications Clear Channel Communications, Inc.
(www.clearchannel.com), is a global leader in the out-of-home advertising
industry with radio and television stations and outdoor displays in 37 countries
around the world. Clear Channel operates more than 700,000 outdoor advertising
displays, including billboards, street furniture and transit panels. Including
announced transactions, Clear Channel also operates 874 radio and 19 television
stations in the United States and has equity interests in over 240 radio
stations internationally. Clear Channel owns market leading national companies
including Dauphin of France, Jolly of Italy, More Group of the UK and Plakanda
of Switzerland. The company also owns radio stations including Radio 1 of
Norway, Radio 2 of Denmark and Jazz FM of the UK. The company is rated Baa3 with
a positive outlook by Moody's and BBB- by S&P.
Certain statements in this release 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.
