REGENT
                              --------------------
                              COMMUNICATIONS, Inc.




FOR IMMEDIATE RELEASE
---------------------

                           REGENT ANNOUNCES CLOSING OF
                        NEW $150,000,000 CREDIT FACILITY

COVINGTON, KY, JULY 1, 2003 - Regent Communications, Inc. (Nasdaq: RGCI)
announced today that its wholly-owned subsidiary, Regent Broadcasting, Inc., has
entered into a Credit Agreement with Fleet National Bank and a syndicate of
seven additional banks which provides Regent with a term loan of $65,000,000 and
a revolving credit facility of $85,000,000.

The bank syndicate has also committed to issue letters of credit for Regent's
benefit of up to $35,000,000 in aggregate face amount, subject to the maximum
revolving commitment amount then available. Fleet Securities served as lead
arranger, US Bank served as syndication agent and Wachovia Bank was a
co-documentation agent together with SunTrust Bank.

The term facility and a portion of the revolving facility will be used to pay
amounts outstanding under the existing Fleet credit facility. The revolving
facility is available for working capital and acquisitions, including related
acquisition expenses. The new credit facility replaces Regent's existing credit
facility with Fleet and matures on December 31, 2010.

The credit facility also provides Regent with the ability to enter into an
incremental revolving loan facility with a maximum aggregate commitment amount
of $100,000,000 available, subject to the terms of the Credit Agreement for a
three-year period, which must mature at least six months after the maturity date
of the primary facility. The indebtedness under the Credit Agreement is
collateralized by liens on substantially all of the assets of Regent
Communications and its direct and indirect subsidiaries and by a pledge of
Regent's operating and license subsidiaries' stock. The indebtedness is also
guaranteed by Regent Communications and its direct and indirect subsidiaries.

Tony Vasconcellos, Sr. Vice President and Chief Financial Officer of Regent
Communications, commented, "Today's announcement increases our financial
flexibility, providing us with access to up to $250 million in capital. Combined
with Regent's solid balance sheet and portfolio of stations in the early stages
of growth, we are in an excellent position to grow through both acquisition and
internal improvements. Finally, I would like to thank the members of our
syndicate group, who are all significant lenders in the media industry, for
their support."

Regent Communications is a radio broadcasting company focused on acquiring,
developing and operating radio stations in middle and small-sized markets. Upon
the close of all announced transactions, Regent will own and operate 76 stations
located in 16 markets. Regent Communications, Inc. shares are traded on the
Nasdaq under the symbol "RGCI."

This press release includes certain forward-looking statements with respect to
Regent Communications, Inc. for which we claim the protections of the safe
harbor for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements involve certain
risks and uncertainties and include statements preceded by, followed by or that
include words such as "anticipate," "believe," "plan," "estimate," "expect,"
"intend,"

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                                                  Regent Communications - Page 2


"project" and other similar expressions. Although we believe our expectations
reflected in these forward-looking statements are based on reasonable
assumptions, such statements are influenced by our financial position, business
strategy, budgets, projected costs, and plans and objectives of management for
future operations. Actual results and developments may differ materially from
those conveyed in the forward-looking statements based on various factors
including, but not limited to: changes in economic, business and market
conditions affecting the radio broadcast industry, the markets in which we
operate, and nationally; increased competition for attractive radio properties
and advertising dollars; fluctuations in the cost of operating radio properties;
our ability to manage our growth; our ability to integrate these and other
acquisitions; and changes in the regulatory climate affecting radio broadcast
companies. Further information on other factors that could affect the financial
results of Regent Communications, Inc. is included in Regent's filings with the
Securities and Exchange Commission. These documents are available free of charge
at the Commission's website at http://www.sec.gov and/or from Regent
Communications, Inc.


CONTACT:
Terry Jacobs                                 John Buckley
Chairman and CEO                             Brainerd Communicators, Inc.
Regent Communications, Inc.                  212-986-6667
859-292-0030                                 buckley@braincomm.com

Tony Vasconcellos
Senior Vice President and Chief Financial Officer
Regent Communications, Inc.
859-292-0030