Date:	February 14, 2005
Contact:	Tristram Collins, EVP, Operations and Finance
Phone:	(609) 452-9696

NASSAU CLOSES PURCHASE OF MARYLAND RADIO STATION WAFY-FM

Princeton – Nassau Broadcasting Partners, L.P. (“Nassau”) has completed its acquisition of radio station WAFY-FM serving Frederick, Maryland.

Licensed to Middletown, WAFY is a Class “A” FM radio station broadcasting an Adult Contemporary format at 103.1 mHz from 571 feet HAAT with 1,000 watts of power day and night.  WAFY-FM was put on the air in 1990 by Barbara D. Marmet, the President and principal owner of Frederick Broadcasting LLC, the seller.  It is her only radio station.

WAFY is Nassau’s first acquisition south of the Mason-Dixon Line.

“After creating numerous regional clusters through many acquisitions last year in New England, we are now excited to be serving the Frederick, MD market” said Lou Mercatanti, Nassau’s President and Chairman. “Soon we will add WARK-AM and WARX-FM in nearby Hagerstown, which will enable us to reach a wider audience and better serve the growing suburbs of northern Washington and western Baltimore.”

Nassau owns, operates or has agreements to acquire 52 radio stations in New Jersey, Pennsylvania, Maryland, Maine, New Hampshire and Vermont. In national rankings, Nassau Broadcasting is the 15^th largest broadcaster in the number of stations owned and the 28^th largest in the amount of revenue generated. 

Glenn Serafin of Serafin Bros., Inc., a Tampa, Florida-based media brokerage and financial services company, advised Nassau in the transaction. Founded in 1993, Serafin Bros. provides private brokerage, finance and valuation services to select clients in the radio and television industries nationwide. Mr. Serafin, the company’s President, is a 32 year veteran of the broadcast industry. Bill Schutz of Schutz & Company in Williamsburg, Virginia represented Frederick Broadcasting, the seller.