Clear Channel Entertainment acquires UK Planit

New York, NY (September 26, 2001) - Clear Channel Entertainment (CCE, formerly SFX), the world's leading producer and marketer of live entertainment events, announced today the acquisition of Planit Promotions, a promoter and producer of motocross...

New York, NY (September 26, 2001) - Clear Channel Entertainment (CCE, formerly SFX), the world's leading producer and marketer of live entertainment events, announced today the acquisition of Planit Promotions, a promoter and producer of motocross races in the United Kingdom.

Planit Promotions will become part of CCE's Motor Sports Division, a leading producer of specialized motor sports events, with Planit founder Matt Bates to become Director -UK of the division. This marks the first motor sports acquisition by CCE outside of North America, and is part of the company's efforts to grow its motor sports business around the world. CCE currently produces two arenacross motorcycle events in Europe, which are part of the company's U.S.-based National Arenacross Series

Based in Oxford, England, Planit promotes and produces the "UK SX Series," which includes five events during the 2001-2002 season: <pre> Odyssey Arena Belfast October 27, 2001 NEC Arena Coventry November 17, 2001 Cardiff Arena Cardiff December 1, 2001 West Point Arena Exeter December 15, 2001 London Arena London January 12, 2002 </pre> Brian Becker, Chairman and CEO of Clear Channel Entertainment, commented: "The acquisition of Planit is an important step in establishing our motor sports footprint in Europe. We believe there are numerous opportunities to replicate the success of our Monster Truck, Motorcycle Racing and Drag Racing properties in Europe, as well as to develop new properties there. Matt and his team will play a critical role in helping focus and take advantage of those opportunities."

Matt Bates said, "I'm excited to be a part of the Clear Channel family and look forward to assisting the Motor Sports Division in developing new motorcycle racing events throughout the UK and Europe. I have watched with great interest the incredible growth that the U.S.-based supercross and arenacross events have enjoyed over the last 10 years and am confident that with the substantial resources of Clear Channel, we can help realize similar growth on this continent."

-CCE-

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