Clear Channel Radio and Google Will Jointly Drive Radio Advertiser Expansion

Agreement Makes Guaranteed Inventory Available to Google Advertisers
On More Than 675 Clear Channel Radio Stations

SAN ANTONIO AND MOUNTAIN VIEW, Calif., April 16, 2007 -- Clear Channel
Radio and Google Inc. (NASDAQ: GOOG), today announced a multi-year
agreement that enables Google to sell a guaranteed portion of 30-
second advertising inventory available on more than 675 of Clear
Channel's AM/FM stations. Specific financial terms are not being
disclosed.

Under the agreement, Google™ Audio Ads advertisers will have national
distribution, enabling them to reach specific audiences, at specific
times, in targeted geographies. For Clear Channel, this agreement
opens up an additional sales channel and provides supplemental revenue
by making Clear Channel inventory available to advertisers who
previously had not used radio.

"This is a true win-win," said John Hogan, Chief Executive Officer of
Clear Channel Radio. "Clear Channel Radio gets access to an entirely
new group of advertisers within a new and complementary sales channel,
and Google adds another option for its existing customers. Google has
proven its ability to gain premiums for advertising inventory and that
fits perfectly into our broader strategy of building value for
advertisers while increasing our overall revenue yield. We're
committed to working with the best-in-class and Google has a real
economic incentive to produce meaningfully higher CPMs."

"Clear Channel is the market leader in delivering radio value to
consumers and advertisers and has built an innovative platform to
manage its on-air ad inventory," said Eric Schmidt, Chief Executive
Officer of Google. "We look forward to working with Clear Channel
Radio by providing a unique set of advertisers and a system that will
increase the effectiveness and measurability of connecting advertisers
with radio listeners."

Clear Channel Radio's national and local sales forces will continue to
focus on the company's most lucrative advertiser relationships, and on
the many advertisers who seek specialized advertising packages and
concepts. Google will focus primarily on advertisers who currently
run ads online but do not run ads on radio.

For Clear Channel, the move is part of a larger initiative to
differentiate its on-air ad inventory. The company created a number
of special positions (such as first-in-pod and islands), new and
innovative spot types (adlets and blinks), unparalleled creative
resources (the Creative Services Group), and fresh combinations on-/
off-air/online packages. These efforts have produced many new
advertiser alternatives and steady gains in revenue yield-per-minute.
Using its Viero System, the company already enables sales managers and
sellers to dynamically evaluate and price inventory. Clear Channel
Radio and Google today separately announced Viero Systems full AdSense
for Audio Compatibility.

This agreement complements an existing online advertising partnership
in which Google provides text ads to Clear Channel's radio-station Web
sites through the company's Online Music & Radio Unit.

###

Google and Google AdSense are trademarks of Google Inc. All other
company and product names may be
trademarks of the respective companies with which they are associated.

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