Mr. Joseph Garcia, Executive Vice President and Chief Financial Officer of Spanish Broadcasting System, Inc.,
Rings The NASDAQ Stock Market Opening Bell

Friday, September 8, 2006
at NASDAQ's MarketSite
in New York City.

Spanish Broadcasting System, Inc.
[SBSA]

Mr. Joseph Garcia, Executive Vice President and Chief Financial Officer of Spanish Broadcasting System, Inc. (SBSA) presides over the opening bell.

Spanish Broadcasting System, Inc. is the largest publicly traded Hispanic-controlled media and entertainment company in the United States. SBS owns and operates 20 radio stations located in the top Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico. The Company also owns and operates Mega TV, a television operation serving the South Florida market, and produces live concerts and events throughout the U.S. and Puerto Rico. In addition, the Company operates LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture. The Company's corporate Web site can be accessed at www.spanishbroadcasting.com.

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Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 9/8/2006 Download Hi-Res Quality Photo of this NASDAQ Market Close - Pictured: Mr. Joseph Garcia, Executive Vice President and Chief Financial Officer of Spanish Broadcasting System, Inc., rings the Opening Bell These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.