Emmis Announces Q1 Earnings Call and Annual Shareholders Meeting

On Tuesday, July 1, 2003, Emmis Communications will host a conference call to discuss first 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 1.773.756.4619, or listen online at www.emmis.com

DATE/TIME: Tuesday, July 1, 2003

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 Tuesday, July 8 by dialing 1.402.220.3459.

Investors have the opportunity to listen to the conference call over the Internet through the Emmis web site, www.emmis.com. To listen to the live call, please go to the web site at least fifteen 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.

Emmis also announced that its Annual Shareholders Meeting is scheduled for 10 a.m. on Wednesday, June 25, 2003 at Emmis’ Corporate headquarters in Indianapolis.

If you have any questions or need further clarification, please contact:

Kate Healey, Media & Investor Relations, 317.684.6576, kate@emmis.com