---FOR IMMEDIATE RELEASE---
January 24, 2005

NASSAU BRAODCASTING ACQUIRES TWO VOX RADIO GROUP FM’S

Deal for WEXP(FM) - WVAY(FM) Closes

In a transaction which closed today, Nassau Broadcasting Holdings acquired two Vermont FM properties, owned by Vox Radio Group, for $2.5M in cash.

In the deal, Nassau acquired WEXP(FM) Brandon [Rutland] 101.5mHz {Classic Rock}; and WVAY(FM) Wilmington [Mt. Snow] 100.7mHz which currently simulcasts WEXP.

Recently, Nassau announced several New England transactions in the Portland, Maine; Concord, Hanover, Laconia and Nashua, New Hampshire areas as well as the Burlington and Barre/Montpelier, Vermont areas.

Nassau after completing all proposed transactions will own radio stations covering Trenton, New Jersey; Allentown, Wilkes Barre and Philadelphia, Pennsylvania as well as the New England acquisitions.

Nassau is headed by Louis Mercatanti, Jr, President while Vox is headed by Bruce Danziger, President/CEO and Jeffery Shapiro, COO.

Dick Foreman of Richard A. Foreman Associates, Inc. initiated the deal and served as exclusive broker in the transaction.