Date:	December 11, 2003
Contact:	Tina Christensen
Phone:	(609) 924-1515

NASSAU BULKS UP IN MAINE

PRINCETON, NEW JERSEY – After just recently announcing its agreement to acquire six FM radio stations in southern coastal Maine from Mariner Broadcasting L.P. (“Mariner”), Nassau Broadcasting Holdings, Inc. (“Nassau”) announced it also has entered into a definitive asset purchase agreement to acquire five additional radio stations serving Portland, Maine from Radio Partners of Maine, L.P. (“Radio Partners”).

The transaction is subject to the consent of the Federal Communications Commission (“FCC”). Specific terms were not disclosed. Glenn Serafin of Serafin Bros., Inc., a Tampa, Florida-based media brokerage and financial services company, advised Nassau in the Radio Partners transaction.

The radio stations to be acquired are WMTW-AM licensed to Gorham; WMTW-FM licensed to North Windham; WMEK-FM licensed to Auburn; and WLAM and WTHT-FM, both licensed to Lewiston, all Maine.

In aggregate, the 11 radio stations from Portland to Bar Harbor cover a populations of nearly 986,000 persons. Both transactions are expected to close routinely in the first quarter of 2004.

Nassau, a privately held firm based in Princeton, New Jersey lead by chairman Louis F. Mercatanti, Jr., is a leading radio broadcasting company that acquires, owns and operates radio stations primarily in the mid-sized affluent suburban markets of the northeastern United States. Post-closing, Nassau will own and/or operate 26 radio stations in suburban New York, Philadelphia, eastern Pennsylvania and Maine, including WOJZ-FM (formerly WEMG-FM) licensed to Egg Harbor City NJ, which Nassau is in the process of acquiring from Mega Communications.

“The first transaction (with Mariner Broadcasting) planted the Nassau flag in southern Maine,” said Mr. Mercatanti. “Our latest agreement with Radio Partners for five more stations will give us an unequaled platform to become the leading radio broadcaster in the region. We welcome the staff and management of all 11 stations to the Nassau family and we will provide the resources for them to be the most respected and successful radio broadcasters in Maine.

Excluding the stations to be acquired, Nassau radio stations have in excess of 1.2 million listeners weekly.

Radio Partners, led by Executive Vice President and General Manager David Kaufman, is an affiliate of WMTW Broadcast Group LLC, the licensee of WMTW-TV (Channel 8/ABC) serving Portland ME.

President Louis Vitali and members of the Tanger family are the principal owners of the Mariner Broadcasting stations. Separately, under the licensee Marlin Broadcasting LLC, the Tangers also own stations in Boston MA and Hartford CT.

Serafin Bros., Inc., a Florida corporation, provides brokerage, finance and valuation services to select clients in the radio and television industries nationwide. Glenn M. Serafin, a 30-year veteran of the broadcast industry, formed Serafin Bros. in 1993.