December 29, 2002

Titan Outdoor Holdings LLC announced that it has acquired PNE Media's New York outdoor advertising assets. The transaction, effective January 13th, 2003, will add a significant number of billboard faces throughout the City of New York, as well as 30 sheet posters in Staten Island to Titan's existing billboard plant. "We are very excited with the acquisition of PNE's New York assets, as they complement and enhance our existing outdoor properties in the largest media market in the world. This acquisition demonstrates Titan's commitment to expand our organization and highlights our continued confidence in the outdoor business," said Donald R. Allman, Titan's Chief Executive Officer. The addition of these new assets, coupled with Titan's existing telephone kiosks, banners and traditional outdoor signage products will enhance Titan's ability to service its clients by providing a complete package of visibility.

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