Clear Channel Cancels Investor Conference

Clear Channel Communications canceled a June 27 investor conference scheduled for that
day and said the company is not the subject of an investigation by the Securities
and Exchange Commission.

Clear Channel President Mark Mays issued a statement saying, "There will not be a
Clear Channel investor conference today. There is not a SEC investigation of Clear
Channel and there are no accounting issues or irregularities. Clear Channel has a
long history of very conservative
business practices that are well documented in 30 years worth of financial
statements."

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