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To: Jeffrey L. Henken who wrote (2139)	7/22/1999 3:58:00 PM
From: Brian D. Potts	Read Replies (2) of 3514

Jeff, Before the close. I'll pick GAAY again for tomorrow. News today Thursday July 22, 2:51 pm Eastern Time Company Press Release Triangle Broadcasting Company Inc. Announced Today That They are Exploring an Unsolicited Offer From an Investment Group PALM SPRINGS, Calif.--(BUSINESS WIRE)--July 22, 1999--Triangle Broadcasting Company Inc. (OTCBB:GAAY - news) President Frank Olsen announced today that the company has received an unsolicited offer from an investment group which is interested in exploring some type of business combination. At this time the investment group is not a shareholder of ''GAAY''. Management will explore this potential offer within a short period of time and will then report back to the shareholders as to the alternatives. Forward looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission. bdpotts

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