Emmis & Radio One Seek Applicants for Community Fund

$1 million designated to promote quality of life for Central Indiana minority community

Indianapolis…Proposals are now being accepted for the Emmis Communications/Radio One Community Fund, designed to support those non-profit organizations that improve the quality of life for the Central Indiana minority community.

“We are absolutely overjoyed with the response to this program in its first year,” Emmis Chairman and CEO Jeff Smulyan said. “This Fund shows how two companies working together can truly make a difference in a community.”

“We are pleased to have been able to assist our community and look forward to creating many more opportunities to affect positively the residents of central Indiana,” Alfred C. Liggins III, Radio One’s President and CEO, said.

In January 2001, Emmis and Radio One jointly announced a $1 million donation to promote assistance to minority youth in the Indianapolis area and the creation of the Emmis-Radio One Fund to administer community grants.

The Fund’s strategy is to provide a few large, significant grants to Central Indiana non-profit organizations that closely match The Fund’s guidelines. Because of overwhelming response last year, the companies narrowed the focus of The Fund to two issues for the 2003 grant cycle. This will allow the grant money to focus on issues that currently need attention in Central Indiana.

During the 2003 grant cycle, The Fund will consider grants that address the following issues:

Economic: Projects that support minority business development, financial planning programs and home-ownership programs.

Health: Projects that address minority health care issues, with special consideration given to Sickle Cell Anemia, HIV/AIDS and Prenatal care.

Two to five grants will be awarded this year, with amounts ranging between $10,000 and $50,000. Organizations can only submit one grant proposal for the 2003 grant cycle. Requests for funding will be evaluated on the projected impact on the minority community, feasibility and prospects for continued funding.

Grant applications are accepted once per year. Deadline for applications is March 3, 2003. The Fund Advisory Committee will meet to review grant applications, and decisions will be communicated to the organizations by early May 2003. Grant distributions are targeted for mid-May 2003.

Not-for-profits interested in submitting requests for funding should download the grant guidelines at the Emmis-Indianapolis websites (www.wens.com, www.wibc.com, www.radionow931.com, www.b1057.com, www.network-indiana.com, www.agriamerica.com), or the Radio One-Indianapolis websites (www.whhh.com, www.wtlc.com, www.1310thelight.com, www.wyjzradio.com) or stop by Emmis Headquarters (40 Monument Circle) or Radio One-Indianapolis Headquarters (21 E. St. Joseph St.).

Grant applications can be mailed to:

Attention: Emmis/Radio One Fund

40 Monument Circle, Suite 700

Indianapolis, IN 46240

or sent via email to communityrelations@emmis.com

Questions can be emailed to communityrelations@emmis.com

Radio One – The Urban Radio Specialist

Radio One, (NASDAQ: ROIAK, ROIA) which locally owns WTLC-FM (106.7), WTLC-AM (1310), WHHH-FM (96.3), WYJZ-FM (100.9), and WDNI-TV (I-65) is the nation’s seventh largest radio broadcasting company in the United States based on pro forma 2001 gross revenue. The Company is also the largest radio broadcasting company in the United States primarily targeting African-Americans. The Company owns and/or operates 65 radio stations located in 22 markets in the United States and programs five channels on the XM Satellite Radio System.