171 clearchanne

This document provides a notice of a blackout period to directors and executive officers of Clear Channel Communications, Inc. It summarizes that there will be a blackout period for the Clear Channel Communications, Inc. Nonqualified Deferred Compensation Plan during its transition of administration to Fidelity Investments from December 23, 2004 to January 16, 2005. During this blackout period, directors and executive officers are prohibited from trading Clear Channel securities acquired through company plans, as required by Sarbanes-Oxley regulations. Limited exceptions apply.