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                                                                    EXHIBIT 99.1

Lamar Advertising Company
5551 Corporate Blvd.
Baton Rouge, LA 70808

Company Contact:  Keith Istre, CFO
                  (225) 926-1000


                          Lamar Announces $250 Million
                           Convertible Notes Offering


     BATON ROUGE, La - (BUSINESS WIRE) --- July 28, 1999 --- Lamar Advertising
Company (NASDAQ: LAMR) announced that it has commenced an offering of
$250,000,000 of Convertible Notes through Goldman Sachs & Co., Deutsche Banc
Alex. Brown, Morgan Stanley Dean Witter and Salomon Smith Barney as
underwriters. The proceeds of the Convertible Notes will be used to pay
existing bank debt.

     Lamar previously announced a holding company restructuring to provide
additional financing flexibility. The Convertible Notes are planned to be
issued by the new holding company.

     As earlier reported, Lamar has agreed to purchase the outdoor advertising
business of Chancellor Media Outdoor Advertising Corporation for $700 million
in cash and 26,227,273 shares of Lamar Class A Common Stock, subject to
satisfaction of certain closing conditions. Lamar expects to fund the cash
portion of the purchase price with bank loans under a new credit facility which
it expects to put in place.

     The offering of the Convertible Notes is being made only by means of a
prospectus, a copy of which may be obtained from any of the underwriters. The
sale of the Convertible Notes is expected to take place on or about August 9,
1999.

     Lamar Advertising Company is a leading outdoor advertising company
currently operating 107 outdoor advertising companies in 36 states, logo
franchises in 20 states and the province of Ontario, Canada and 23 transit
advertising franchises in nine states.