December 02, 2001

Hispanic Broadcasting Corporation announced that it has agreed to acquire the assets of radio station KARA(FM), broadcasting at 105.7 MHz, serving the San Jose and San Francisco, California markets, from Empire Broadcasting Corporation, for a cash purchase price of approximately $58.0 million.

McHenry T. Tichenor, Jr., President and CEO of the Company commented, "The acquisition of KARA(FM) is strategically important to our efforts to serve our listeners and advertisers in the San Francisco and San Jose, California markets, collectively the sixth-largest Hispanic market in the United States."

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