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Capital Radio PLC
27 September 2001

CAPITAL RADIO plc

PRE-CLOSE TRADING UPDATE

27th September 2001



The Board of Capital Radio plc today announces a trading update for the year
ending 30 September 2001, ahead of the preliminary results due to be released
on 15 November 2001.

In the April to June quarter our like for like radio revenue was down 16%
against a very strong quarter last year. We anticipate that our radio revenue
will be down around 9% in the July to September quarter. This will result in
our like for like radio revenue being down 6% for the year to September 2001.

The preliminary results are expected to show an underlying profit before tax
of #30m, in line with the guidance given in our interim statement in May and
ahead of current market consensus.

Although we remain cautious regarding current trends in the worldwide
advertising market, we believe the longer term prospects for radio advertising
are very positive. Capital is the leading commercial radio company in the UK
with market leading brands in the most demanded advertiser regions, record
audiences and a strong balance sheet.

Enquiries

Capital Radio plc

David Mansfield, Chief Executive                        020-7766-6288

Peter Harris, Finance Director                          020-7766-6119

Finsbury

Rupert Younger                                          020-7251-3801

James Leviton

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