FCC Approves iBiquity Digital's IBOC Technology for Digital AM and FM Radio Broadcasting

Columbia, MD and Warren, NJ, (October 10, 2002) - iBiquity Digital Corporation, the sole developer of HD Radio™ digital broadcasting technology, today announced approval by the Federal Communications Commission (FCC) of its In-Band On-Channel (IBOC) technology, which enables digital broadcasting in the AM and FM bands. Following extensive review, the FCC's historic decision will allow radio stations to begin immediately broadcasting digitally using the iBiquity-developed HD Radio technology. The company also reaffirmed that consumer electronics manufacturers utilizing HD Radio technology will debut products at the upcoming International Consumer Electronics Show (CES) in January.

Through its combination of superior audio quality and integrated wireless data services, HD Radio technology represents the most significant enhancement to radio broadcasting since the advent of the medium nearly a century ago. With today's FCC action, IBOC technology is the approved digital broadcast AM/FM system for the US market, and will offer true, end-to-end digital delivery of radio programming. iBiquity's HD Radio technology has been designed to work within the current AM and FM spectrum allocations, ensuring consumers will be able to enjoy continued use of their existing analog receivers as well as benefit from the higher quality and additional services offered by the new generation of HD Radio-equipped receivers.

This ruling allows for broadcasters to proceed immediately with HD Radio broadcasting while the final IBOC standards are established. Digital FM has been approved for both daytime and nighttime broadcast, AM digital for daytime broadcast. iBiquity is working closely with the National Radio Systems Committee (NRSC), co-sponsored by the National Association of Broadcasters (NAB) and the Consumer Electronics Association (CEA), to develop final FM and AM IBOC standards.

"With today's FCC action, local radio stations are poised to deliver one of the most sweeping advancements in broadcasting in nearly a century," said NAB President and CEO Edward O. Fritts. "Community-focused programming has always made radio an indispensable part of the American fabric. We believe broadcasters will embrace this new technology because it will provide local listeners with unmatched audio quality and a host of new, innovative digitally-based services."

"Through their support of this ongoing process, the consumer electronics industry has shown great faith in the promise of digital radio broadcasting," said Gary Shapiro, President and CEO of CEA, producer, sponsor and manager of the International CES. "As a result, we're ecstatic about the ability to turn that promise into reality for the millions of consumers who count on AM/FM radio on a daily basis. The additional benefits that HD Radio technology can offer, such as upgraded sound quality and wireless data functionality, will become immediately attractive to consumers. We are excited to have our show serve as the launch pad for the new generation of digital radio hardware this January."

"As one of the first broadcasters to officially license HD Radio technology, Radio One fully supports today's FCC ruling as it ensures that broadcasters can begin utilizing this breakthrough technology immediately in expanding our service to our existing listeners and markets," said Alfred C. Liggins III, President and CEO, Radio One, Inc. "The promise of HD Radio is an exciting one that will not only enable us to deliver superior audio quality, but the integrated wireless data services offer us an additional opportunity to communicate more effectively with our audiences."

Bob Struble, president and CEO, iBiquity Digital Corporation stated, "The FCC, NRSC, NAB and CEA deserve the credit for making this historic day a reality. This ruling will offer true digital performance on AM/FM, allowing consumers to experience radio, as they never have before. Radio can now formally begin its long-awaited digital transformation."

About iBiquity Digital (www.ibiquity.com)

iBiquity Digital is the sole developer and licenser of HD Radio technology in the U.S., which will transform today's analog radio to digital, enabling radically upgraded sound and new wireless data services. The company's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom; leading financial institutions, such as J.P. Morgan Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Lucent, Texas Instruments and Visteon. iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, Redwood City, CA and Warren, NJ.

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