Raul Alarcon Broadcasting & Communications 2008 Scholarship

Winner to Receive $5,000 Scholarship For Audio-Visual Studies

Spanish Broadcasting System (SBS) (NASDAQ: SBSA) and Mega TV announced today the winner of the "TU MEGA TV 2008 "contest. The "TU MEGA TV 2008" contest is an annual project sponsored by SBS that is dedicated to helping young producers pursue their goals in the communications industry. This scholarship program began in 2006 and has continued to produce great success.

The winner of this year's scholarship is a young student from Colombia named Leonardo Gaviria, who presented a video on environmental issues and solutions to how humanity can improve our world. He will receive a $5,000 scholarship to continue his studies from SBS Executive President and President of the board, Mr. Raúl Alarcón Jr.

"I am grateful for this award and for the opportunity to continue my studies," said Gaviria. "I am passionate about environmental issues and hope to continue to generate awareness among others to help save our planet."

Gaviria immigrated to the U.S. in search for a new future. He studied mechanics in Colombia and his ultimate goal is to continue his studies and follow his dream of having a career in the post-production, television, or movies.

"In its second consecutive year, this award showcases our dedication to helping young, creative people. Mr. Alarcón's generosity offers future generations the chance to get involved in the world of communications," expressed Cynthia Hudson-Fernández, Executive Vice President and Chief Creative Officer of Mega TV.

The winner's video "VIVO," http://mega.tv/EkkpuyAkVlbcuRWgGi.html.

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