Clear Channel Spectacolor Donates Times Square Billboard to Takara Media for Japanese Earthquake and Tsunami Relief

Encourages Contributions to American Red Cross' Disaster Relief Fund to Aid in the Relief Effort

Clear Channel Spectacolor:

        Clear Channel Spectacolor, the U.S. market leader in spectacular sign
        displays and a division of the world's largest outdoor advertising
WHO:    company, Clear Channel Outdoor (NYSE: CCO), and Takara Media Inc., a
        leading Japanese advertising agency, in conjunction with American Red
        Cross.

        With the help of Clear Channel Spectacolor, Takara Media is launching a
        public service announcement (PSA) to drive contributions through the
        American Red Cross for the devastating earthquake in Japan and tsunami
        throughout the Pacific. Clear Channel Spectacolor is donating time on
WHAT:   its SpectacolorHD digital billboard, located in the heart of Times
        Square, to run the 15-second Takara-commissioned Red Cross spot twice
        per hour for four weeks. The PSA alerts pedestrians to assist those
        affected by the natural disasters and directs them to www.redcross.org
        and 1-800-RED CROSS.

        This is just one of several American Red Cross digital relief campaigns
        that Clear Channel Outdoor is initiating in communities across the U.S.

        Clear Channel Spectacolor is a powerful out-of-home (OOH) platform that
        captures the attention of more than 500,000 people daily in Times
        Square. The Company hopes to leverage that platform on behalf of Takara
        Media to help those displaced by the tragic series of events in Japan
WHY:    and throughout the Pacific region. Clear Channel Spectacolor is proud to
        support the Takara Media and American Red Cross campaign in raising
        public awareness and offering a clear call-to-action for those
        interested in helping to alleviate the suffering of the millions
        affected.

WHEN:   The campaign will run from Friday, April 1st through Friday, April 29th.

        Set in the "Crossroads of the World," the SpectacolorHD board is located
WHERE:  on 47th Street and Broadway, opposite from Father Duffy Square and the
        striking TKTS Booth with its red glass amphitheater-style staircase.

    Source: Clear Channel Outdoor Holdings

Released April 1, 2011