JACOR AGREES TO SELL COMMON STOCK, SENIOR SUBORDINATED 
                       NOTES AND LIQUID YIELD OPTION NOTES

                                       
COVINGTON, KY, FEBRUARY 4, 1998: Jacor Communications, Inc. (Nasdaq: JCOR) 
and its wholly owned subsidiary, Jacor Communications Company, announced 
today their agreement to sell securities in three separate offerings made on 
Tuesday, February 3, 1998. The aggregate gross proceeds from these three 
offerings will be approximately $500.0 million and were made pursuant to 
Jacor's omnibus shelf registration statement previously declared effective by 
the Securities and Exchange Commission. The offerings are:

1.  COMMON STOCK: Jacor Communications, Inc. agreed to sell 4.56 million 
    shares of its common stock to the public at $50.50 per share, for gross 
    proceeds of approximately $230.3 million. Net proceeds to the company are 
    anticipated to be approximately $221.0 million. The underwriters have an 
    over-allotment option to purchase up to an additional 513,000 shares of 
    common stock at $50.50 per share.

2.  SENIOR SUBORDINATED NOTES: Jacor Communications Company agreed to sell 
    $120.0 million in aggregate principal amount at maturity of 8% Senior 
    Subordinated Notes due 2010 to the public, for gross proceeds of 
    approximately $119.5 million. The notes were priced to yield 8.05% with a 
    coupon of 8.0% and are callable after five years. The notes will be 
    guaranteed by Jacor Communications, Inc. and by all of Jacor's 
    subsidiaries. Net proceeds to the company are anticipated to be 
    approximately $117.1 million.

         DONALDSON, LUFKIN & JENRETTE SECURITIES CORPORATION ACTED AS
         LEAD UNDERWRITER IN THE PRECEDING OFFERINGS.

3.  LIQUID YIELD OPTION NOTES (LYONs): Jacor Communications, Inc. agreed to 
    sell $383.6 million in aggregate principal amount at maturity of its 
    Liquid Yield Option Notes due 2018 (Zero Coupon-Senior) (the "LYONs") to 
    the public, for gross proceeds of $150.0 million. The yield to maturity 
    of the LYONs is 4.75% per annum and each LYON is convertible, at the 
    option of the holder at any time on or prior to maturity, into 6.245 
    shares of common stock of Jacor Communications, Inc. The LYONs have been 
    approved for listing, subject to official notice of issuance, on the 
    Nasdaq Stock Market's SmallCap Market under the symbol "JCORH". Net 
    proceeds to the company are anticipated to be approximately $145.5 
    million. The underwriter has an over-allotment option to purchase up to 
    an additional $43.34 million in aggregate principal amount at maturity of 
    LYONs for additional potential gross proceeds of approximately $16.95 
    million.

     MERRILL LYNCH & CO. ACTED AS SOLE UNDERWRITER IN THE LYONs OFFERING.

All three offerings are schedule to close on Monday, February 9.



THE OFFERINGS ARE MADE BY PROSPECTUS ONLY. COPIES OF THE FINAL PROSPECTUS 
FOR THE COMMON STOCK AND THE 8% SENIOR SUBORDINATED NOTES DUE 2010 ARE 
AVAILABLE THROUGH THE PROSPECTUS DEPARTMENT OF DONALDSON, LUFKIN & JENRETTE 
SECURITIES CORPORATION, 277 PARK AVENUE, NEW YORK, NY, 10172, TEL. 
212.892.3000. THE PROSPECTUS FOR THE LIQUID YIELD OPTION NOTES DUE 2018 
(LYONs) IS AVAILABLE THROUGH MERRILL LYNCH & CO., PROSPECTUS OPERATIONS, TEL. 
732.885.7260.