Spanish Broadcasting System Hosts First Upfront for Mega TV

Company Announces New Market Affiliation, Original Programming, Film Production

MEGA TV announced that it had entered into a new retransmission agreement with WSJU (Channel 30) in Puerto Rico to broadcast MEGA TV's award-winning programming. Under the terms of the agreement, Puerto Rico television viewers will soon be able to enjoy daily programs such as "Esta Noche Tú Night," with Alexis Valdés, "Bayly," "Maria Elvira Live," "Paparazzi," "Raíces y Recuerdos," "El Círculo," "Mega News," and many others.

In addition, Mega TV showcased other upcoming programming developments including "La Descarga", a new Sunday night musical jam session featuring Grammy award winner Albita, as well as its new female-targeted afternoon offering, "Las Divas de la Tarde", scheduled to debut in 2009. Mega TV also announced the expansion of its nightly news program "Mega News", by joining forces with News Corporation as an affiliate of the Fox News Edge Service.

"Mega has had unprecedented growth, tripling its key demos in the last year and expanding the programming with high-quality productions and nationally recognized Latino talent. Our upfront line-up confirms that we are the network to watch in the Hispanic TV Market", stated Cynthia Hudson, Executive Vice President and Chief Creative Officer of SBS.

According to the Nielsen Hispanic Station Index, which provides ratings data on the top 19 Hispanic markets in the United States, MEGA TV will now reach over 2.5 million Hispanic Households in the U.S. and Puerto Rico.

In addition its over-the-air coverage, Mega TV's new affiliate has significant cable and satellite penetration in Puerto Rico. WSJU is a full-power television facility in San Juan that is carried on all of the cable and satellite providers, including Liberty, Choice, One Link and Dish, throughout Puerto Rico. In addition, Mega TV will continue its island-wide, 24 hour service via DirectTV.

SBS and MEGA TV executives also announced the inauguration of Megafilms, the new entertainment division that will produce exclusive Spanish-language filmed content for MEGA TV. Company executives were accompanied by Latino superstar Chayanne, who plays the title role in the upcoming Mega TV miniseries, "Gabriel", and who was on hand to host the evening's festivities. The Megafilms project will include the production of feature films, music specials, miniseries, soap operas, documentaries and other types of filmed entertainment that will be available for local and international theatrical release as well as broadcast, cable and satellite syndication and home video distribution.

"Megafilms allows us to expand our horizons, explore multiple revenue models and broaden our content with high-quality dramatic offerings that enhance our overall programming line-up, facilitating the exploitation of our multimedia platforms as a springboard for growth", stated Raul Alarcon, Jr., Chairman and Chief Executive Officer of SBS.

The event was attended by numerous media celebrities representing a cross-section of today's top TV and radio personalities, including recognized news journalist María Elvira Salazar, Alexis Valdés, the Cuban talk show host and actor, and the stars of "El Vacilón de la Mañana," the number one New York morning show which airs daily on SBS radio station Mega 97.9 (WSKQ-FM).

Along with its flagship owned and operated television station in Miami and its broadcast, production and uplink facilities due to be inaugurated in June, Mega TV has now secured an important foundation for its network distribution platform - two years after commencing operations.

About Spanish Broadcasting System, Inc.

Spanish Broadcasting System, Inc. is the largest publicly traded Hispanic-controlled media and entertainment company in the United States. SBS owns and/or operates 21 radio stations located in the top Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, including the #1 Spanish-language radio station in America, WSKQ-FM in New York City, as well as 4 of the Top 7 rated radio stations airing the Tropical, Mexican Regional, Spanish Adult Contemporary and Hurban format genres. The Company also owns and operates Mega TV, a television operation serving the South Florida market with national distribution through DirecTV Más. SBS also produces live concerts and events throughout the U.S. and Puerto Rico. In addition, the Company operates www.LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture. The Company's corporate Web site can be accessed at www.spanishbroadcasting.com.