11 January 2005

                            NOTIFICATION OF SHARES                             

Further to a notification made on 4 January 2005 that Morgan Stanley Investment
Management Ltd (a member of the Morgan Stanley Group of Companies) and its
subsidiaries are interested in 8,268,413 ordinary shares in Capital Radio plc,
representing 9.67% of the ordinary shares in issue, they have since informed us
that the figures quoted were incorrect.

On 11 January 2005 amended information was received that Morgan Stanley
Investment Management Ltd (a member of the Morgan Stanley Group of Companies)
and its subsidiaries are interested in 8,608,906 ordinary shares in Capital
Radio plc, representing 10.07% of the ordinary shares in issue

Cliff Fluet

Company Secretary

Capital Radio plc



END
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