Castor Joins SBS Board.

Spanish Broadcasting System, Inc. announced the confirmation of two newly elected outside independent directors to its Board, Mr. Carl Parmer of Los Vegas, Nevada and Mr. Castor Fernandez of Miami, Florida.

Messrs. Parmer and Fernandez, along with Mr. Jason Shrinsky, Esq. will empanel the block of outside independent directors in conformance with the newly established NASDAQ regulations governing Board constituencies.

“I am honored to have Carl and Castor serve as Directors of the Company,” stated Raul Alarcon, Chairman, President and CEO of SBS. “We are diversifying and strengthening our board by gaining the enormous resources of these two outstanding leaders.”

“Both men bring a wealth of knowledge and information gleaned from years of experience in the worlds of broadcasting, advertising and corporate finance that will prove invaluable in mapping out the strategic future of our Company,” added Mr. Alarcon.

“SBS is a tremendously valuable array of assets uniquely poised to capture the future growth of the burgeoning U.S. Hispanic market,” commented Mr. Carl Parmer. “Having personally participated in the creation of what is today Hispanic Broadcasting Corporation, I look forward to assisting Raul in realizing the enormous potential of SBS.”

Mr. Castor Fernandez stated, “Raul and I have known each other since the early days of Spanish language advertising and together we have participated in the growth of an industry that has exceeded our most aggressive initial expectations. I am excited by the possibilities of assisting SBS in challenging corporate America to wake up to the reality of a Latino USA.”

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