EXHIBIT 99.1

              CLEAR CHANNEL DECLARES CASH DIVIDEND ON COMMON STOCK



San Antonio, Texas - July 23, 2003 - Clear Channel Communications, Inc. (NYSE:
CCU) announced today that its Board of Directors has declared a quarterly cash
dividend of $0.10 per share on its Common stock. The dividend is payable on
October 15, 2003 to shareholders of record at the close of business on September
30, 2003.

Lowry Mays, Chairman and Chief Executive Officer said, "Declaring a dividend
demonstrates the board's confidence in the company's long-term growth
opportunities and financial strength. The company's balance sheet has been
strengthened considerably through the repayment of more than $3.0 billion in
debt since the beginning of 2001. We believe that it is appropriate, given the
significant amount of free cash flow that the company generates, that we return
a portion of those profits to our shareholders, particularly in light of
recently improved federal tax laws on dividends. The board is committed to
maintaining our bias for improving the leverage ratios of the company, while
continuing to balance that with strategic acquisitions and long-term capital
requirements."


ABOUT CLEAR CHANNEL COMMUNICATIONS, INC.
Clear Channel Communications, Inc. (NYSE:CCU), headquartered in San Antonio,
Texas, is a global leader in the out-of-home advertising industry with radio and
television stations, outdoor displays, and entertainment venues in 65 countries
around the world.


Certain statements in this release constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Visit our
website at www.clearchannel.com.