Radio One, Inc. Announces Transactions Designed to Refinance Senior Credit Facility

Radio One, Inc. ROIA today announced that it has engaged Credit Suisse and Deutsche Bank to arrange a new senior secured credit facility.

The new senior secured credit facility is to be comprised of a $25.0 million "super-priority" revolving credit facility and a $386.0 million term loan. Upon completion, the proceeds of the New Senior Credit Facility will be used to refinance all of the Company's outstanding indebtedness under its existing senior credit facility and for working capital and general corporate purposes.

Radio One anticipates that affiliates of Credit Suisse and Deutsche Bank will provide the $25.0 million "super-priority" revolving credit facility and will use commercially reasonable efforts to syndicate the $386.0 million term loan.