RADIO ONE, INC. and MMTC Establish Fund in Memory of John Wayne Jones

Radio One, Inc. (NASDAQ: ROIAK and ROIA) and the Minority Media and Telecommunications Council ("MMTC”) today announced the creation of the John W. Jones Legal Education Fund (the "Jones Fund”), in memory of Mr. John W. Jones, Radio One’s General Counsel, who passed away on Sunday, December 3, 2006, at the age of 38. Through the Jones Fund, the MMTC will train law students, as well as attorneys beginning their legal careers, in the practice of public interest and civil rights law before the Federal Communications Commission. Those awarded stipends through the Jones Fund will be designated MMTC’s "John W. Jones Fellows.” The John W. Jones Fellows’ work will focus on the advancement of minority entrepreneurship in the nation’s media and telecommunications industries. Commenting on Mr. Jones and the establishment of the Jones Fund, Alfred C. Liggins, III, Radio One’s Chief Executive Officer and President, stated "John was a remarkable individual who had an amazing career in the short time he was on this earth. We will miss him dearly and hope that the creation of the Jones Fund will perpetuate his legacy for generations to come. Our thoughts and prayers continue to be with his family and friends during these very difficult days.” Mr. Jones was a graduate of the United States Naval Academy where he graduated with a Bachelor of Science degree in General Science and was a three-time All-American on the National Collegiate Boxing Association team. After the Naval Academy he served in the United States Marine Corps and earned the rank of Captain. Additionally, he received his Masters in Business Administration from Webster University, in St. Louis, MO and was a graduate of the University of Maryland School of Law, Baltimore where he earned his Juris Doctor degree. Mr. Jones practiced law at Cooley Godward Kronish LLP in Reston, VA and then joined Radio One as Associate General Counsel in 2001. He moved to TV One to be its first General Counsel in 2003 and then back to Radio One in 2005 as its most recent General Counsel. Donations, which are fully tax deductible, should be made to the "John W. Jones Legal Education Fund” and sent to: Minority Media and Telecommunications Council 3636 16th Street, NW Suite B-366 Washington, DC 20010 Radio One, Inc. (www.radio-one.com) is the nation's seventh largest radio broadcasting company (based on 2005 net broadcast revenue) and the largest radio broadcasting company that primarily targets African-American and urban listeners. Including announced dispositions, Radio One owns and/or operates 70 radio stations located in 22 urban markets in the United States and reaches approximately 14 million listeners every week. Radio One also owns interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network, programming primarily to African-Americans and Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, a leading urban media personality. Radio One also operates the country's only nationwide African-American news/talk network on free radio and programs "XM 169 The POWER," an African-American news/talk channel, on XM Satellite Radio.