Clear Channel Outdoor Holdings (CCO)

Clear Channel Worldwide Holdings, Inc., the issuer of the notes, is an indirect, wholly-owned subsidiary of Clear Channel Outdoor Holdings, Inc. The notes will be guaranteed by Clear Channel Outdoor Holdings, Inc. and certain of its existing and future domestic subsidiaries, including Clear Channel Outdoor, Inc.

Unless otherwise stated or the context otherwise requires, all references in this offering circular to (i) “Clear Channel Outdoor Holdings,” “we,” “our,” “us” and the “Company” refer to Clear Channel Outdoor Holdings, Inc. and its consolidated subsidiaries, including Clear Channel Worldwide Holdings, Inc. and Clear Channel Outdoor, Inc.; (ii) “Clear Channel Worldwide Holdings” refer to Clear Channel Worldwide Holdings, Inc., an indirect, wholly-owned subsidiary of Clear Channel Outdoor Holdings and the issuer of the notes, and its consolidated subsidiaries; (iii) “CCOI” refer to Clear Channel Outdoor, Inc., a direct, wholly-owned subsidiary of Clear Channel Outdoor Holdings and a guarantor of the notes; (iv) “Clear Channel Communications” refer to Clear Channel Communications, Inc., the indirect holder of approximately 89% of the common stock of Clear Channel Outdoor Holdings; and (v) “CC Media Holdings” refer to CC Media Holdings, Inc., the indirect parent company of Clear Channel Communications. Clear Channel Communications merged with a subsidiary of CC Media Holdings, a company formed by private equity funds sponsored by Bain Capital Partners, LLC (“Bain Capital”) and Thomas H. Lee Partners, L.P. (“THL”), in July 2008.

The issuer of the notes is Clear Channel Worldwide Holdings, which is an indirect, wholly-owned subsidiary of Clear Channel Outdoor Holdings. Clear Channel Worldwide Holdings is a holding company that owns 100% of our International segment through the indirect ownership of numerous international subsidiaries. Clear Channel Worldwide Holdings also owns certain other immaterial subsidiaries that are included in our Americas segment. Clear Channel Worldwide Holdings has no direct operations or operating assets.