Emmis Announces Q2 Earnings Call

On Tuesday, Sept. 28, 2004, Emmis Communications will host a conference call to discuss second quarter earnings. Emmis Chairman/Chief Executive Officer Jeff Smulyan and Executive Vice President/Chief Financial Officer Walter Berger will host the call.

To access this conference call, please dial 1.630.395.0022, or listen online at www.emmis.com

DATE/TIME Tuesday, Sept. 28, 2004

Eastern 9 a.m.

Central 8 a.m.

Mountain 7 a.m.

Pacific 6 a.m.

CALL NAME/PASSCODE Emmis Communications

MODERATORS Jeff Smulyan

Walter Berger

PLEASE NOTE To facilitate call entry, we recommend that you place your call five minutes before the scheduled start time.

CALL PLAYBACK A digital playback of the call will be available until midnight on Tuesday, Oct. 5 by dialing 1.402.998.0797.

Investors have the opportunity to listen to the conference call over the Internet through the Emmis website, www.emmis.com. To listen to the live call, please go to the website at least 15 minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available on the site shortly after the call.

If you have any questions or need further clarification, please contact: Kate Healey, Media & Investor Relations, 317.684.6576, kate@emmis.com

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Emmis Communications -
Great Media, Great People, Great Service
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EMMIS Communications is an Indianapolis based diversified media firm with radio broadcasting, television broadcasting and magazine publishing operations. Emmis’ 18 FM and 3 AM domestic radio stations serve the nation’s largest markets of New York, Los Angeles and Chicago as well as Phoenix, St. Louis, Indianapolis and Terre Haute, IN. In addition, Emmis owns two radio networks, three international radio stations, 16 television stations, award winning regional and specialty magazines, and ancillary businesses in broadcast sales and publishing. Emmis has announced the acquisition of a majority interest in six radio stations in Austin, Texas. Pending approvals from the Federal Communications Commission and other regulatory agencies, the transaction is expected to close in the company’s second fiscal quarter. After the close of the transaction, Emmis will own 27 radio stations in eight markets.

The information in this news release is being widely disseminated in accordance with Regulation FD, recently adopted by the Securities and Exchange Commission.

Certain statements included above which are not statements of historical fact, including financial data for quarters or other periods for which quarterly or annual reports have not yet been filed with the Securities & Exchange Commission and statements identified with the words “continues,” “expect,” “will,” or “would” are intended to be, and are, identified as “forward-looking statements,” as defined in the Securities and Exchange Act of 1934, as amended, and involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of EMMIS to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statement. Such factors include, among others, general economic and business conditions; fluctuations in the demand for advertising; increased competition in the broadcasting industry; inability to obtain necessary approvals for our pending acquisitions or to complete our pending acquisitions; changes in the costs of programming; inability to grow through suitable acquisitions, including the desired radio; and other factors mentioned in documents filed by EMMIS with the Securities and Exchange Commission.

Emmis does not undertake any obligation to publicly update or revise any statements in this news release because of new information, future events or otherwise.