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Radio One, Inc. Declares Dividend on Convertible Preferred Stock

WASHINGTON, Dec. 5 /PRNewswire-FirstCall/ -- Radio One, Inc. (Nasdaq: ROIAK; ROIA) announced today that its board of directors has declared a cash dividend on the Company's 6.5% Convertible Preferred Securities (HIGH TIDES) and the Company's 6.5% 144A Convertible Preferred Securities. The record date for these securities is December 15, 2002 with the dividend payable on January 15, 2003.

Radio One is the nation's seventh largest radio broadcasting company (based on 2001 pro forma revenue) and the largest primarily targeting African- American and urban listeners. The Company owns and/or operates 65 radio stations located in 22 of the largest markets in the United States and programs five channels on the XM Satellite Radio Inc. system.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because these statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially, including the absence of a combined operating history with an acquired company or radio station and the potential inability to integrate acquired businesses, need for additional financing, high degree of leverage, granting of rights to acquire certain portions of the acquired company's or radio station's operations, variable economic conditions and consumer tastes, as well as restrictions imposed by existing debt and future payment obligations. Important factors that could cause actual results to differ materially are described in the Company's reports on Forms 10-K and 10- Q and other filings with the Securities and Exchange Commission.

SOURCE Radio One, Inc.

CONTACT: Scott R. Royster, Executive Vice President and Chief Financial