Breakfast Registration

Welcome
Ralph Guild, Chairman & CEO, Interep National Radio Sales

Intro: 'Radio: From the View of Wall Street'
Victor Miller, Broadcast Analyst, Bear Stearns

Panel I
Radio's Competitive Landscape: "The Road to 10% Share by 2010"

How can radio take a larger share of advertising dollars from other major media? What media will be the greatest source of incremental dollars? What media will pose the greatest competitive challenge? Are Satellite and Internet radio a threat to terrestrial broadcasters? Listen to a panel of agency executives discuss radio's competitive landscape and ad share opportunities.

Panelists:

• Matt Feinberg, Senior VP/Radio, Zenith
• Sheila Kirby, Senior VP/Interep Innovations, Interep
• Rich Russo, Senior VP/Director of Broadcast Services, JL Media
• Natalie Swed Stone, U.S. Director, National Radio OMD

Panel II
Radio's Political Landscape: "Choppy Seas or Smooth Sailing?"

This session will debate on topics such as deregulation, indecency and the FCC, the perception of the radio business in D.C., low-power and the likelihood that local services might ultimately be provided by Satellite radio. Hear from those that know D.C. best on the issues that concern radio most.

Panelists:

• John P. Crigler, Esq., First Amendment Expert, Garvey Schubert Barer
• John E. Fiorini, Partner, Wiley Rein and Fielding

Break

Panel III
Radio's Growth Drivers: Pricing, Programming & Inventory

Hear a panel of sales executives - general, local, national reps - answer some of the industry's most important growth concerns: What will drive radio revenue growth in the year(s) ahead? Are prices rising? Have inventory loads stabilized? What will the market bear - balancing inventory demands - with programming quality?

Panelists:

• Pat Amsbry, National Sales Manager, Emmis Broadcasting (LA)
• Steve Borneman, General Sales Manager, ABC Radio (NY)
• Ronald DeCastro, General Sales Manager, Clear Channel (NY)
• Carey Davis, VP/General Manager, Spanish Broadcasting System
• Les Hollander, Sr. VP & Regional Manager, Infinity Broadcasting
• Lee Ann Longinotti, Director of National Sales, Interep

Presentations
Radio's Currency Credibility: Accountability & Audience Measurement

Is the Portable People Meter (PPM) ready for its close-up? What role will Arbitron's PPM play in the future of radio? What are the advantages of PPM over existing measurements? How can advertisers quantify the effectiveness of radio ads? Hear three presentations from the leading companies that measure radio's audiences, its ad effectiveness and the industry's first electronic invoicing system. A panel of leading media executives share their insights on the PPM and discusses the growing issue of accountability and ROI among advertisers.

Presenters:

Portable People Meter

• Bob Patchen, Exec. VP/Worldwide Research, Arbitron

Radio Ad Effectiveness

• Sunil Garga, President & COO, Marketing Management Analytics

RadioExchange™

• Marc Guild, President of Marketing Division, Interep

Panelists:

• Kathy Crawford, President/Local Broadcast, Mindshare
• Lourdes Marquez, Sr. VP/Director of Local Broadcast, Horizon Media

Panel IV
Radio's Industry Leadership: Dealing with Interference, Tuning in Opportunity

A power panel of broadcast leaders addresses the industry's most pressing and controversial issues such as programming and indecency, current business, competition, consolidation, long-term growth opportunities and dealing with pressures from Wall Street. Hear their leadership insights on industrywide initiatives in audience measurement and electronic invoicing.

Panelists:

• Rick Cummings, President of Radio, Emmis
• Lew Dickey, Jr., Chairman & CEO, Cumulus
• David Kennedy, President & COO, Susquehanna Radio
• Mary Catherine Sneed, Chief Operating Officer, Radio One
• Charles Warfield, President & COO, Inner City Broadcast Group

Break

Panel V
Radio's Near-Term Prospects: Trends and Business Pacings

Experts with various industry perspectives - agency, rep, broadcaster and research - discuss the current state of national and local business pacing and expected trends.

Panelists:

• Kim Vasey (Agency), Senior Partner & Director of Radio, Mediaedge:CIA
• Jeff Dashev (National Radio), President/Sales Division, Interep
• Jim Donnelly (Top Markets), Gen. Sales Mgr., ABC Radio (New York)
• Lydia Syed (Markets 50+), Gen. Sales Mgr., Cumulus (Savannah)
• George Nadel Rivin (Miller Kaplan), Managing Partner, Miller Kaplan

Panel VI
Radio's Standing in the "Street": A Wall Street View

A "street" debate among radio's most influential broadcasting analysts to be moderated by a leading radio operator. Hear Wall Street's view of the radio industry today. This is the equivalent of an 'eleven o'clock' number in a Broadway musical.

Moderator:

• Lew Dickey, Chairman & CEO, Cumulus

Panelists:

• David Bank, RBC Capital Markets
• Jonathan A. Jacoby, Banc of America Securities
• Drew Marcus, Deutsche Bank Alex Brown
• Bill Meyers, Lehman Brothers
• Victor Miller, Bear Stearns
• Lee Westerfield, Harris Nesbitt

Closing Remarks
Mike Agovino, Co-President & Co-Chief Operating Officer, Interep