CO-Media

[jmhollen]

STATUS REPORT FROM MAX CASSING REGARDING THE BUSINESS COMBINATION OF TRIANGLE BROADCASTING COMPANY AND TRIANGLE MULTI-MEDIA.

Max Cassing, escrow representative for the corporate business combination of Triangle Broadcasting Co and Triangle Multi-Media, announced that the deadline for voluntary participation in the exchange of stockholdings of Triangle Broadcasting Company for a pro-rata stockholding in Triangle Multi-Media has formally closed, effective 3/12/01.

Cassing stated that his office received replies from brokerage houses and shareholders requesting participation in the exchange, and a listing of all participants has been compiled and certified.

Shareholders may expect notification from their respective brokers of the ownership change in their stockholdings. Individuals requesting additional information regarding the status of their individual shareholdings are urged to direct such inquiries to their broker or investment advisor.