Clear Channel Outdoor Holdings, Inc. Announces Completion Of Redemption By Clear Channel Worldwide Holdings, Inc. Of Outstanding 9.25% Series A Senior Notes Due 2017 And 9.25% Series B Senior Notes Due 2017

Clear Channel Outdoor Holdings, Inc. Announces Completion Of Redemption By Clear Channel Worldwide Holdings, Inc. Of Outstanding 9.25% Series A Senior Notes Due 2017 And 9.25% Series B Senior Notes Due 2017

San Antonio, Texas, December 19, 2012. Clear Channel Outdoor Holdings, Inc. (NYSE:  CCO) announced today that the previously announced redemption by its indirect, wholly-owned subsidiary, Clear Channel Worldwide Holdings, Inc., of all of its $219,545,000 aggregate principal amount of 9.25% Series A Senior Notes due 2017 (the “Existing Series A Notes”) and $555,748,000 aggregate principal amount of 9.25% Series B Senior Notes due 2017 (the “Existing Series B Notes” and together with the Existing Series A Notes, the “Existing Notes”) that remained outstanding after the expiration of its tender offer on December 3, 2012 has been completed.  The Existing Notes were redeemed pursuant to a notice of redemption issued on November 19, 2012 in accordance with the redemption provisions of the indentures governing the Existing Notes (the “Existing Notes Indentures”).

This press release is for informational purposes only and does not constitute a notice of redemption under the Existing Notes Indentures or an offer to buy or the solicitation of an offer to sell with respect to any securities.

About iHeartMedia, Inc. / iHeartCommunications, Inc.

iHeartMedia, Inc(PINK: IHRT), the parent company of iHeartCommunications, Inc., is one of the leading global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company’s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.

About Clear Channel Outdoor Holdings, Inc.

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1,050 digital billboards across 29 U.S.markets. Clear Channel Outdoor Holdings’ International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.