Nassau Broadcasting Closes on Two Additional FM Stations in Vermont

1/24/2005

Princeton, NJ — Nassau Broadcasting Partners,

L.P. (“Nassau”), a leading radio group in the Northeast, announced today

that it has closed on the purchase of two additional radio stations in

Vermont, WEXP-FM in Rutland and WVAY-FM in Wilmington, from the Vox

Radio Group. Nassau has been operating both stations under a local

marketing agreement since October 1, 2004.

In addition to these two stations, Nassau also recently acquired the

following stations in Vermont and New Hampshire from the Vox Radio

Group: 105.5 WJYY-FM and 93.3 WNHI-FM in the Concord, NH market; 107.1

WORK-FM, 100.9 WWFY-FM and 1450 WSNO-AM in the

Montpelier-Barre-Waterbury, VT market; 106.1 WHDQ-FM, 104.3 WWOD-FM,

96.3 WCFR-FM, 95.3 WSSH-FM, 107.1 WZSH-FM, 910 WNHV-AM and 1230 WTSV-AM

in the Lebanon-Rutland-White River Market. Nassau is currently operating

an additional station owned by the Vox Radio Group in the Concord, NH

market, 102.3 WOTX-FM, until it receives approval from the FCC for

transfer to Nassau.

“We are very pleased with the progress of our new station group in

Northern New England. WEXP-FM, Rutland and WVAY-FM, Wilmington are great

additions to this regional group and substantially enhance our local

presence in Vermont. We believe these markets, along with our other New

England markets, have great potential for growth and we are excited

about becoming an integral part of the communities our radio stations

serve” said Louis F. Mercatanti, Jr., President and Chief Executive

Officer of Nassau.

A privately held firm in Princeton NJ, Nassau Broadcasting Partners,

L.P. owns, operates or has agreements to acquire 52 radio stations in

New Jersey, Pennsylvania, Maryland, Vermont, New Hampshire and Maine.

Pro forma for pending transactions, Nassau is the 28th largest

broadcaster in terms of revenues and the 14th largest broadcaster in

terms of the number of radio stations in the United States. The

Company’s web site is www.nassaubroadcasting.com.