News Release

<< Back

Clarification Regarding Recent Stock Transactions

WASHINGTON, May 08, 2008 (BUSINESS WIRE) -- Radio One, Inc. (NASDAQ: ROIAK and ROIA), today provided clarification with respect to certain stock transactions recently executed in the names of Catherine L. Hughes and Alfred C. Liggins, III. On April 25, 2008, two stock sale transactions were executed in the names of the executives. These transactions were the result of variable pre-paid forward sales transactions executed on April 25, 2006 in which the executives agreed with a brokerage firm to sell certain shares on a fixed date. At the time of the arrangement, Ms. Hughes and Mr. Liggins pledged shares to the broker with all or a portion of the shares to be sold at the end of a two year period depending on the stock price.

"Ms. Hughes and I want to affirmatively allay any fears that we were selling into the stock's current weakness," says Alfred C. Liggins, III, Radio One's CEO and President. "These sales by a broker were the result of the expiration of certain forward sales transactions initiated two years ago. We want to assure all of our security holders that we stand firmly committed to Radio One and these transactions were isolated sales triggered solely by historical events."

Radio One, Inc. ( is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. On a pro forma basis, after closing the sale of our Los Angeles station, Radio One will own and/or operate 53 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (, interests in TV One, LLC (, a cable/satellite network programming primarily to African-Americans, Reach Media, Inc. (, owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, and Community Connect Inc., an on-line social-networking company, which operates a number of branded websites, including BlackPlanet, MiGente and AsianAvenue.

Cautionary Note Regarding Forward-Looking Statements

This press release includes 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. Forward-looking statements represent management's current expectations and are based upon information available to Radio One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Radio One's control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Radio One does not undertake any obligation to update any forward-looking statements.

SOURCE: Radio One, Inc.

Radio One, Inc.
Peter D. Thompson, CFO and EVP