NOTICE OF GUARANTEED DELIVERY
OFFER FOR ALL OUTSTANDING
PRIVATELY PLACED 9 1/2% SERIES A SENIOR SUBORDINATED NOTES DUE 2007
IN EXCHANGE FOR
9 1/2% SERIES B SENIOR SUBORDINATED NOTES DUE 2007
OF
SALEM COMMUNICATIONS CORPORATION
Registered holders of privately placed 9 1/2% Series A Senior Subordinated
Notes Due 2007 (the "Old Notes") who wish to tender their Old Notes in
exchange for a like principal amount of 9 1/2% Series B Senior Subordinated
Notes Due 2007 (the "Notes") and (i) whose Old Notes are not immediately
available, or (ii) who cannot deliver their Old Notes and Letter of
Transmittal or any other documents required by the Letter of Transmittal to
The Bank of New York, as exchange agent (the "Exchange Agent") on or prior to
the Expiration Date, or (iii) who cannot complete the procedures for delivery
by book-entry transfer on a timely basis must use this Notice of Guaranteed
Delivery or one substantially equivalent hereto. This Notice of Guaranteed
Delivery may be delivered by hand or sent by facsimile transmission or mail to
the Exchange Agent. See "THE EXCHANGE OFFER--Procedures for Tendering" in the
Prospectus.
THE EXCHANGE AGENT FOR THE OFFER IS
THE BANK OF NEW YORK
By Hand Delivery By Mail or Overnight Express
(Insured or registered recommended):
THE BANK OF NEW YORK THE BANK OF NEW YORK
101 BARCLAY STREET - FLOOR 7E 101 BARCLAY STREET - FLOOR 7E
CORPORATE TRUST SERVICES WINDOW NEW YORK, NEW YORK 10286
GROUND LEVEL ATTN: REORGANIZATION DEPARTMENT
NEW YORK, NEW YORK 10286
ATTN: REORGANIZATION DEPARTMENT
By Facsimile: By Telephone:
(212) 815-6339 (212) 815-[TBD]
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS
SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE TRANSMISSION
TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID
DELIVERY.
THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE
SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE
GUARANTEED BY AN ELIGIBLE INSTITUTION UNDER THE INSTRUCTIONS THERETO, SUCH
SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED ON THE LETTER
OF TRANSMITTAL FOR GUARANTEE OF SIGNATURES.
Ladies and Gentlemen:
The undersigned hereby tenders the principal amount of Old Notes
indicated below, upon the terms and subject to the conditions contained in
the Registration Statement on Form S-4 filed by Salem Communications
Corporation, a California corporation, and its subsidiaries identified
therein as Other Registrants with the Securities and Exchange Commission
(the "Registration Statement") and the accompanying Prospectus dated
, 1998 included therein (the "Prospectus"), receipt of which is
hereby acknowledged.
DESCRIPTION OF SECURITIES TENDERED
NAME AND ADDRESS OF
REGISTERED HOLDER AS IT CERTIFICATE NUMBER(S) PRINCIPAL AMOUNT OF
APPEARS ON THE OLD NOTES OF OLD NOTES TRANSMITTED OLD NOTES TRANSMITTED
-------------------------- -------------------------- --------------------------
__________________________ __________________________ __________________________
__________________________ __________________________ __________________________
__________________________ __________________________ __________________________
__________________________ __________________________ __________________________
__________________________ __________________________ __________________________
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THE FOLLOWING GUARANTEE MUST BE COMPLETED
GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a firm that is a member of a registered national
securities exchange or a member of the National Association of Securities
Dealers, Inc. or a commercial bank or trust company having an office,
branch, agency or correspondent in the United States, which is a member of
a recognized Medallion Signature Program approved by the Securities
Transfer Association, Inc., hereby guarantees to deliver to the Exchange
Agent at one of its addresses set forth above, either the Old Notes
tendered hereby in proper form for transfer, or confirmation of the book-
entry transfer of such Old Notes to the Exchange Agent's account at The
Depository Trust Company pursuant to the procedures for book-entry
transfer set forth in the Prospectus, in either case together with a
properly completed and duly executed Letter of Transmittal (or facsimile
thereof), with any required signature guarantees, and any other documents
required by the Letter of Transmittal within five New York Stock Exchange,
Inc. trading days after the date of execution of this Notice of Guaranteed
Delivery.
Name of Firm: _____________________________________________________________
___________________________________________________________________________
(AUTHORIZED SIGNATURE)
Address: __________________________________________________________________
(ZIP CODE)
Area Code and Telephone Number: ___________________________________________
Name: _____________________________________________________________________
(PLEASE TYPE OR PRINT)
Title: ____________________________________________________________________
Date: , 1998
If Old Notes will be tendered by book-entry transfer, provide the
following information:
DTC Account Number:
Date:
NOTE:DO NOT SEND OLD NOTES WITH THIS NOTICE OF GUARANTEED DELIVERY. OLD
NOTES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.
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