X0303 4 2008-07-30 1 0000739708 CLEAR CHANNEL COMMUNICATIONS INC CCU 0001212887 LEWIS PERRY C/O CLEAR CHANNEL COMMUNICATIONS, INC. 200 EAST BASSE ROAD SAN ANTONIO TX 78209 1 0 0 0 Common Stock 2008-07-30 4 D 0 70157 D 0 D Common Stock 2008-07-30 4 D 0 3000 D 0 I See Footnote Common Stock Options (right to buy) 55.3825 2008-07-30 4 D 0 24545 D 2009-07-13 Common Stock 24545 0 D Common Stock Options (right to buy) 65.4405 2008-07-30 4 D 0 5222 D 2010-04-26 Common Stock 5222 0 D Common Stock Options (right to buy) 55.0228 2008-07-30 4 D 0 5222 D 2011-04-25 Common Stock 5222 0 D Common Stock Options (right to buy) 44.9507 2008-07-30 4 D 0 7833 D 2012-04-30 Common Stock 7833 0 D Common Stock Options (right to buy) 38.0861 2008-07-30 4 D 0 7833 D 2013-04-23 Common Stock 7833 0 D Common Stock Options (right to buy) 41.1115 2008-07-30 4 D 0 7833 D 2004-12-31 2009-04-28 Common Stock 7833 0 D Disposed of pursuant to merger agreement (the "Merger Agreement") between Clear Channel Communications, Inc. and BT Triple Crown Merger Co., Inc., B Triple Crown Finco, LLC, T Triple Crown Finco, LLC and CC Media Holdings, Inc. ("CC Media"), as amended in exchange for, on a per share basis, either a cash payment of $36.00 or one share of CC Media Class A Common Stock ("Class A Stock"). These shares are held for the account of the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose. These options, which provided for vesting in five equal annual installments beginning July 13, 1999, were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. These options, which provided for vesting in five equal annual installments beginning April 26, 2000, were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. These options, which provided for vesting in five equal annual installments beginning April 25, 2002, were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. These options, which provided for vesting in five equal annual installments beginning April 30, 2003, were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. These options, which provided for vesting in five equal annual installments beginning April 23, 2004, were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. These options were canceled pursuant to the Merger Agreement in exchange for, on a per option basis, either a cash payment of $36.00 or one share of Class A Stock, less the exercise price of the option. /s/ Perry Lewis 2008-07-30