<SUBMISSION>
<ACCESSION-NUMBER>0001047469-06-008804
<TYPE>SC TO-I/A
<PUBLIC-DOCUMENT-COUNT>4
<FILING-DATE>20060623
<DATE-OF-FILING-DATE-CHANGE>20060623
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>ENTERCOM COMMUNICATIONS CORP
<CIK>0001067837
<ASSIGNED-SIC>4832
<IRS-NUMBER>231701044
<STATE-OF-INCORPORATION>PA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
<ACT>34
<FILE-NUMBER>005-55345
<FILM-NUMBER>06922910
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>401 CITY AVENUE
<STREET2>SUITE 809
<CITY>BALA CYNWYD
<STATE>PA
<ZIP>19004
<PHONE>610-660-5610
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>401 CITY AVENUE
<STREET2>SUITE 809
<CITY>BALA CYNWYD
<STATE>PA
<ZIP>19004
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>ENTERCOM COMMUNICATIONS CORP
<CIK>0001067837
<ASSIGNED-SIC>4832
<IRS-NUMBER>231701044
<STATE-OF-INCORPORATION>PA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>401 CITY AVENUE
<STREET2>SUITE 809
<CITY>BALA CYNWYD
<STATE>PA
<ZIP>19004
<PHONE>610-660-5610
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>401 CITY AVENUE
<STREET2>SUITE 809
<CITY>BALA CYNWYD
<STATE>PA
<ZIP>19004
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I/A
<SEQUENCE>1
<FILENAME>a2171453zscto-ia.htm
<DESCRIPTION>SC TO-I/A
<TEXT>
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<FONT SIZE=3 ><A HREF="#06PHI1071_1">QuickLinks</A></FONT>
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<P ALIGN="CENTER"><FONT SIZE=5><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>WASHINGTON, D.C. 20549  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=4><B>SCHEDULE TO/A<BR>  </B></FONT><FONT SIZE=2><B>(RULE 13e-4)<BR>
TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR SECTION 13(E)(1)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>ENTERCOM COMMUNICATIONS CORP.  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2>(NAME OF SUBJECT COMPANY (ISSUER) AND FILING PERSON (OFFEROR)) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B>OPTIONS TO PURCHASE CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE<BR>  </B></FONT><FONT SIZE=2>(TITLE OF CLASS OF SECURITIES) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>293639100<BR>  </B></FONT><FONT SIZE=2>(CUSIP NUMBER OF CLASS OF SECURITIES) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>DAVID J. FIELD<BR>
PRESIDENT AND CHIEF EXECUTIVE OFFICER<BR>
ENTERCOM COMMUNICATIONS CORP.<BR>
401 CITY AVENUE, SUITE 809<BR>
BALA CYNWYD, PENNSYLVANIA 19004<BR>
(610)&nbsp;660-5610<BR>  </B></FONT><FONT SIZE=2>(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE<BR>
NOTICES AND COMMUNICATIONS ON BEHALF OF THE FILING PERSON) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B>COPY TO:<BR>
PATRICK H. SHANNON, ESQ.<BR>
LATHAM&nbsp;&amp; WATKINS LLP<BR>
555 11<SUP>TH</SUP> STREET, NW, SUITE 1000<BR>
WASHINGTON, DC 20004<BR>
(202)&nbsp;637-2200  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B> CALCULATION OF FILING FEE  </B></FONT></P>

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<TH WIDTH="49%" ALIGN="CENTER"><FONT SIZE=1><B>TRANSACTION&nbsp;VALUATION*</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="49%" ALIGN="CENTER"><FONT SIZE=1><B>AMOUNT&nbsp;OF&nbsp;FILING&nbsp;FEE</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>$7,248,249</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>$775.56</FONT></TD>
</TR>
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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Calculated
solely for purposes of determining the filing fee. This amount assumes that all eligible options to purchase the Class&nbsp;A common stock of Entercom Communications Corp.
with an exercise price of $40.00 or more will be exchanged for an aggregate of 266,774 shares of Entercom restricted Class&nbsp;A common stock having an aggregate value of $7,248,249 based on the
average of the high and low prices of Entercom Class&nbsp;A common stock on the New York Stock Exchange on of May&nbsp;30, 2006. The amount of the filing fee, calculated in accordance with
Rule&nbsp;0-11(b) of the Securities Exchange Act of 1934, as amended, equals $107.00 per million dollars of the value of the transaction.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></DT><DD><FONT SIZE=2>Check
box if any part of the fee is offset as provided by Rule&nbsp;0-11(a)(2) and identify the filing with which the
offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. </FONT></DD></DL>
<BR>

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<TD WIDTH="49%"><FONT SIZE=2>Amount Previously Paid: $775.56</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2>Filing party: Entercom Communications Corp.</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" VALIGN="TOP"><FONT SIZE=2>Form or Registration No: Schedule TO</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="TOP"><FONT SIZE=2>Date Filed: June&nbsp;5, 2006</FONT></TD>
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<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></DT><DD><FONT SIZE=2>Check
the box if the filing relates solely to preliminary communications made before the commencement of a tender&nbsp;offer. </FONT></DD></DL>

<P><FONT SIZE=2>Check the appropriate boxes below to designate any transactions to which the statement relates: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></DT><DD><FONT SIZE=2>third-party
tender offer subject to Rule&nbsp;14d-1 </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></DT><DD><FONT SIZE=2>issuer
tender offer subject to Rule&nbsp;13e-3 </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></DT><DD><FONT SIZE=2>going
private transaction subject to Rule&nbsp;13e-3 </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></DT><DD><FONT SIZE=2>amendment
to Schedule&nbsp;13D under Rule&nbsp;13d-2 </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>Check the following box if the filing is a final amendment reporting the results of the tender offer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>


<P><FONT SIZE=2><hr
noshade width=100% align=left size=1>
<hr noshade width=100% align=left size=4> </FONT></P>

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<P><FONT SIZE=2><A
NAME="page_da1071_1_1"> </A> </FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No.&nbsp;1 amends and supplements the Tender Offer on Schedule TO filed with the Securities and Exchange Commission on June&nbsp;5, 2006 by Entercom Communications
Corp. (the "Company") relating to the offer by the Company to its eligible employees and non-employee directors to exchange certain outstanding stock options for shares of restricted
Class&nbsp;A common stock of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item
12 to the Company's Schedule TO is amended and supplemented as follows: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
replace Exhibit&nbsp;(a)(1)(i), "Offer to Exchange Certain Outstanding Options," with the revised version that is filed herewith;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
add as Exhibit&nbsp;(a)(1)(xiv), the "Supplement to Offer to Exchange Certain Outstanding Options" that is filed herewith; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
add as Exhibit&nbsp;(a)(1)(xv), the "Form of Email to Offerees Regarding Amendment of Offer to Exchange and Financial Statement Supplement" that is filed herewith. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B>Item 12. Exhibits:  </B></FONT></P>

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<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(i)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Offer to Exchange Certain Outstanding Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(ii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Cover Letter to holders of Eligible Options regarding the Offer to Exchange and Summary of Procedures.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(iii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Election to Exchange Form.</FONT></TD>
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<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(iv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of E-mail Confirming Receipt of Election.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(v)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Notice of Election to Withdraw Options Form from Offer to Exchange.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(vi)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
E-mail Communication to holders of Eligible Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(vii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Rights Letter.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(viii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Personnel Summary.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(ix)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2005, filed with the SEC on February 24, 2006 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(x)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s proxy statement for its 2006 Annual Meeting of Stockholders, filed with the SEC on April 7, 2006 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(xi)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005, filed with the SEC on November 7, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(xii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended June 30, 2005, filed with the SEC on August 9, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(xiii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, filed with the SEC on May 9, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
*</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(xiv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Supplement to Offer to Exchange Certain Outstanding Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
*</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(1)(xv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Email to Offerees Regarding Amendment of Offer to Exchange and Financial Statement Supplement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>&nbsp;</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(2)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
</TR>
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<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(3)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
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<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(4)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
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<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(a)(5)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
</TR>
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<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(b)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
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<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(1)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Amended and Restated Articles of Incorporation of Entercom Communications Corp. (incorporated by reference to Exhibit 3.01, Entercom Communications Corp. Amendment to Registration Statement on Form S-1, filed with the SEC January 27,
1999).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(2)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Amended and Restated Bylaws of Entercom Communications Corp. (incorporated by reference to Exhibit 3.02 of Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 13,
2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(3)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Common Stock Certificate (incorporated by reference to Entercom Communications Corp.'s Registration Statement on Form S-3, filed with the SEC on February 11, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(4)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Indenture dated as of March 5, 2002 by and among Entercom Radio, LLC and Entercom Capital, Inc., as co-issuers, the Guarantors named therein and HSBC Bank USA, as trustee (incorporated by reference to Exhibit 4.02 to Entercom Communications Corp.'s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 13, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(5)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
First Supplemental Indenture dated as of March 5, 2002 by and among Entercom Radio, LLC and Entercom Capital, Inc., as co-issuers, the Guarantors named therein and HSBC Bank USA, as trustee. (incorporated by reference to Exhibit 4.03 to Entercom
Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 13, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(6)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Equity Compensation Plan, as amended through March 24, 2006, and forms of agreements thereunder (incorporated by reference to Exhibit 10.01 to Entercom Communications Corp.'s Current Report on Form 8-K, filed with the SEC on May 18,
2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(7)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Registration Statement on Form S-8, SEC File Nos. 333-71481, filed with the Securities and Exchange Commission on January 29, 1999 and incorporated by reference herein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(8)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Entercom Communications Corp.'s Registration Statement on Form S-8, SEC File 333-85638, filed with the Securities and Exchange Commission on April 5, 2002 and incorporated by reference herein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(d)(9)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Form of Letter Agreement Regarding Acceleration of Vesting of Certain Stock Options (incorporated by reference to Exhibit 10.01 of Entercom Communications Corp.'s Current Report on Form 8-K, filed with the SEC on December 19, 2005).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(g)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2><BR>
(h)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2><BR>
Not applicable.</FONT></TD>
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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Filed
herewith. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD><FONT SIZE=2>Previously
filed with the Company's Schedule TO on June&nbsp;5, 2006. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>***</FONT></DT><DD><FONT SIZE=2>Incorporated
by reference as indicated. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<A NAME="toc_jc1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2>Dated: June&nbsp;23, 2006</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>Entercom Communications Corp.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="45%" ALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JOHN C. DONLEVIE</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="45%" ALIGN="CENTER"><FONT SIZE=2>John C. Donlevie</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="45%" ALIGN="CENTER"><FONT SIZE=2>Executive&nbsp;Vice&nbsp;President,&nbsp;Secretary</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_ka1071_1_4"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ka1071_exhibit_index"> </A>
<A NAME="toc_ka1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT INDEX    <BR>    </B></FONT></P>

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<TABLE WIDTH="76%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(i)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Offer to Exchange Certain Outstanding Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(ii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Cover Letter to holders of Eligible Options regarding the Offer to Exchange and Summary of Procedures.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(iii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Election to Exchange Form.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(iv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of E-mail Confirming Receipt of Election.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(v)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Notice of Election to Withdraw Options Form from Offer to Exchange.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(vi)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>E-mail Communication to holders of Eligible Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(vii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Rights Letter.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>**</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(viii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Personnel Summary.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(ix)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2005, filed with the SEC on February 24, 2006 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(x)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s proxy statement for its 2006 Annual Meeting of Stockholders, filed with the SEC on April 7, 2006 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(xi)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005, filed with the SEC on November 7, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(xii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended June 30, 2005, filed with the SEC on August 9, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(xiii)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, filed with the SEC on May 9, 2005 (File No. 001-14461) and incorporated by reference.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(xiv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Supplement to Offer to Exchange Certain Outstanding Options.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(1)(xv)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Email to Offerees Regarding Amendment of Offer to Exchange and Financial Statement Supplement.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(2)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(3)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(4)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(a)(5)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(b)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(1)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Amended and Restated Articles of Incorporation of Entercom Communications Corp. (incorporated by reference to Exhibit 3.01, Entercom Communications Corp. Amendment to Registration Statement on Form S-1, filed with the SEC
January 27, 1999).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(2)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Amended and Restated Bylaws of Entercom Communications Corp. (incorporated by reference to Exhibit 3.02 of Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the
SEC on May 13, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(3)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Common Stock Certificate (incorporated by reference to Entercom Communications Corp.'s Registration Statement on Form S-3, filed with the SEC on February 11, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(4)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Indenture dated as of March 5, 2002 by and among Entercom Radio, LLC and Entercom Capital, Inc., as co-issuers, the Guarantors named therein and HSBC Bank USA, as trustee (incorporated by reference to Exhibit 4.02 to
Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 13, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(5)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>First Supplemental Indenture dated as of March 5, 2002 by and among Entercom Radio, LLC and Entercom Capital, Inc., as co-issuers, the Guarantors named therein and HSBC Bank USA, as trustee. (incorporated by reference to
Exhibit 4.03 to Entercom Communications Corp.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 13, 2002).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(6)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Equity Compensation Plan, as amended through March 24, 2006, and forms of agreements thereunder (incorporated by reference to Exhibit 10.01 to Entercom Communications Corp.'s Current Report on Form 8-K, filed
with the SEC on May 18, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(7)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Registration Statement on Form S-8, SEC File Nos. 333-71481, filed with the Securities and Exchange Commission on January 29, 1999 and incorporated by reference herein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(8)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Entercom Communications Corp.'s Registration Statement on Form S-8, SEC File 333-85638, filed with the Securities and Exchange Commission on April 5, 2002 and incorporated by reference herein.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>***</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(d)(9)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Form of Letter Agreement Regarding Acceleration of Vesting of Certain Stock Options (incorporated by reference to Exhibit 10.01 of Entercom Communications Corp.'s Current Report on Form 8-K, filed with the SEC on December
19, 2005).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(g)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>(h)</FONT></TD>
<TD WIDTH="83%"><FONT SIZE=2>Not applicable.</FONT></TD>
</TR>
</TABLE>
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<BR>
<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Filed
herewith. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD><FONT SIZE=2>Previously
filed with the Company's Schedule TO on June&nbsp;5, 2006. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>***</FONT></DT><DD><FONT SIZE=2>Incorporated
by reference as indicated. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
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<BR>
<P><br><A NAME="06PHI1071_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jc1071_1">SIGNATURE</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ka1071_1">EXHIBIT INDEX</A></FONT><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(I)
<SEQUENCE>2
<FILENAME>a2171453zex-99_a1i.htm
<DESCRIPTION>EXHIBIT 99(A)(1)II)
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#06PHI1071_2">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="RIGHT"><FONT SIZE=2><B>EXHIBIT (a)(1)(i)  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ENTERCOM COMMUNICATIONS CORP.  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> OFFER TO EXCHANGE CERTAIN OUTSTANDING OPTIONS<BR>
FOR SHARES OF RESTRICTED CLASS A COMMON STOCK  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT<BR>
5:00&nbsp;P.M., EASTERN DAYLIGHT TIME<BR>
ON THURSDAY, JULY 6, 2006, UNLESS THE OFFER IS EXTENDED  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entercom Communications Corp. ("</FONT><FONT SIZE=2><B>Entercom</B></FONT><FONT SIZE=2>" or the "</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>") is
offering its eligible employees and non-employee directors the opportunity to exchange certain outstanding stock options for shares of restricted Class&nbsp;A common stock of Entercom
("</FONT><FONT SIZE=2><B>Restricted Stock</B></FONT><FONT SIZE=2>"). Eligible options may be exchanged for shares of Restricted Stock at the ratios set forth in this Offer to Exchange, rounded (up or
down) to the nearest whole number of shares. We are making this offer upon the terms and subject to the conditions described in this Offer to Exchange and in the related Election Form (which together,
as they may be amended from time to time, constitute the "</FONT><FONT SIZE=2><B>Offer</B></FONT><FONT SIZE=2>"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Offer relates only to currently outstanding stock options to purchase shares of our Class&nbsp;A common stock, with an exercise price equal to or greater than $40.00
("</FONT><FONT SIZE=2><B>Eligible Options</B></FONT><FONT SIZE=2>"), which were granted under the Entercom Equity Compensation Plan, as amended through March&nbsp;24, 2006 (the
"</FONT><FONT SIZE=2><B>Plan</B></FONT><FONT SIZE=2>"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are eligible to participate (an "</FONT><FONT SIZE=2><B>Eligible Participant</B></FONT><FONT SIZE=2>") in this Offer only if you: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>are
an employee of the Company or its subsidiaries ("</FONT><FONT SIZE=2><B>Employees</B></FONT><FONT SIZE=2>"), including Employees who are officers or members of the
Company's board of directors; or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>are
a non-employee member of the Company's board of directors ("</FONT><FONT SIZE=2><B>Non-Employee Directors</B></FONT><FONT SIZE=2>"). </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the terms and subject to the conditions of this Offer, we will issue the Restricted Stock to Eligible Participants who elect to participate
("</FONT><FONT SIZE=2><B>Participants</B></FONT><FONT SIZE=2>") promptly following the expiration of the Offer. The Restricted Stock issued in exchange for tendered Eligible Options will be issued
under the Plan. The Restricted Stock will be subject to forfeiture and other restrictions until such shares vest under the terms of a restricted stock grant instrument, the form of which is included
in this Offer to Exchange as <U>Schedule&nbsp;A</U>. By properly tendering your Eligible Options for exchange, Participants will be deemed to have accepted the terms of, and
agree to be bound by, that form of restricted stock grant instrument. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
exchange ratio under this Offer is fifteen-to-one, meaning that a Participant must surrender Eligible Options to purchase 15 shares of Class&nbsp;A common
stock in order to receive one share of Restricted Stock. The number of shares of Restricted Stock to be received by a Participant will be rounded (up or down) to the nearest whole number of shares. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming
a Participant continues to meet the requirements for vesting specified in the restricted stock grant instrument, shares of Restricted Stock will vest: (i)&nbsp;50% on
February&nbsp;15, 2007; and (ii)&nbsp;50% on February&nbsp;15, 2008. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a Participant who is an Employee ceases to be employed by the Company (other than as a result of death) before such Participant's shares of Restricted Stock vest, such shares will be
forfeited. If a Participant who is a Non-Employee Director ceases to serve as a director of the Company (other than as a result of death) before such Participant's shares of Restricted
Stock vest, such shares will be forfeited unless such Participant is willing to serve as a director of the Company but is not reelected, in which case such Participant's shares of Restricted Stock
shall become fully vested. Other restrictions regarding the Restricted Stock and the vesting thereof are set forth in the form of restricted stock grant instrument in
<U>Schedule&nbsp;A</U> of this Offer to Exchange and will be set forth in the grant instrument to be issued as of the grant date thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Eligible Options are presently fully vested and exercisable. The shares of Restricted Stock to be issued in connection with this Offer to Exchange, however, will not be vested. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligible
Participants are not required to exchange any Eligible Options. In order to participate, however, a Participant must exchange all of their Eligible Options. A Participant may
not elect to exchange only a portion of their Eligible Options. This Offer is not conditioned upon a minimum number of Eligible Options being exchanged. This Offer is subject to the conditions that we
describe in Section&nbsp;6 of the Offer to Exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
our board of directors has approved this Offer, neither we nor our board of directors make any recommendation as to whether you should exchange or refrain from exchanging your
Eligible Options. You must make your own decision whether to elect to exchange your Eligible Options. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
of our Class&nbsp;A common stock are quoted on the New York Stock Exchange under the symbol "ETM." On May&nbsp;30, 2006, the closing sales price of our common stock as quoted
on the New York Stock Exchange was $26.83 per share. </FONT><FONT SIZE=2><B>We recommend that you obtain current market quotations for our common stock before deciding whether to elect to exchange
your Eligible Options.</B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of May&nbsp;25, 2006, options to purchase 5,989,979 shares of our Class&nbsp;A common stock were issued and outstanding under the Plan. Approximately 4,001,604 of these options,
with exercise prices ranging from $40.00 to $57.63, would be eligible for exchange under this Offer to Exchange. The shares of Class&nbsp;A common stock issuable upon exercise of options we are
offering to exchange for Restricted Stock represent approximately 9.9% of the total shares of our common stock outstanding as of May&nbsp;25, 2006. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
should direct questions about this Offer or requests for assistance to John C. Donlevie, Executive Vice President, Secretary and General Counsel at (610)&nbsp;660-5610,
or send an email to "option-exchange" followed by the extension "@entercom.com". </FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>IMPORTANT  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IF YOU CHOOSE TO ACCEPT THIS OFFER, YOU MUST COMPLETE AND SIGN THE ELECTION FORM AND RETURN IT TO US AT THE ADDRESS OR FACSIMILE NUMBER ON THE ELECTION FORM SO
THAT WE RECEIVE IT BEFORE 5:00&nbsp;P.M., EASTERN DAYLIGHT TIME, ON THURSDAY, JULY 6, 2006. YOU DO NOT NEED TO RETURN YOUR STOCK OPTION AGREEMENTS FOR YOUR ELIGIBLE OPTIONS TO ELECT EFFECTIVELY TO
EXCHANGE OPTIONS IN THIS OFFER. IF YOU ELECT TO PARTICIPATE IN THIS OFFER TO EXCHANGE, YOUR STOCK OPTION AGREEMENTS RELATING TO YOUR ELIGIBLE OPTIONS WILL BE AUTOMATICALLY RENDERED NULL AND VOID UPON
OUR ACCEPTANCE OF THOSE ELIGIBLE OPTIONS IN THIS OFFER. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WE
ARE NOT MAKING THIS OFFER TO, NOR WILL WE ACCEPT ANY ELECTION TO EXCHANGE ELIGIBLE OPTIONS FROM, OR ON BEHALF OF, OPTION HOLDERS IN ANY JURISDICTION IN WHICH THE OFFER OR THE
ACCEPTANCE OF ANY ELECTION TO EXCHANGE SUCH OPTIONS WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF THAT JURISDICTION. WE MAY, HOWEVER, AT OUR DISCRETION, TAKE ANY ACTIONS NECESSARY FOR US TO MAKE THIS
OFFER TO OPTION HOLDERS IN ANY SUCH JURISDICTION. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WE
HAVE NOT AUTHORIZED ANY PERSON TO MAKE ANY RECOMMENDATION ON OUR BEHALF AS TO WHETHER YOU SHOULD ELECT TO EXCHANGE OR REFRAIN FROM ELECTING TO EXCHANGE YOUR ELIGIBLE OPTIONS PURSUANT
TO THE OFFER. YOU SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS DOCUMENT OR TO WHICH WE HAVE REFERRED YOU. WE HAVE NOT AUTHORIZED ANYONE TO GIVE YOU ANY INFORMATION OR TO MAKE ANY
REPRESENTATION IN CONNECTION WITH THIS OFFER OTHER THAN THE INFORMATION AND REPRESENTATIONS CONTAINED IN THIS DOCUMENT OR IN THE RELATED ELECTION FORM. IF ANYONE MAKES ANY RECOMMENDATION OR
REPRESENTATION TO YOU OR GIVES YOU ANY INFORMATION, YOU MUST NOT RELY UPON THAT RECOMMENDATION, REPRESENTATION OR INFORMATION AS HAVING BEEN AUTHORIZED BY US. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTHING
IN THIS DOCUMENT SHALL BE CONSTRUED TO GIVE ANY PERSON THE RIGHT TO REMAIN IN THE EMPLOY OF ENTERCOM COMMUNICATIONS CORP. OR ANY OF ENTERCOM'S SUBSIDIARIES OR TO AFFECT OUR RIGHT
TO TERMINATE THE EMPLOYMENT OF ANY PERSON AT ANY TIME WITH OR WITHOUT CAUSE TO THE EXTENT PERMITTED UNDER LAW. NOTHING IN THIS DOCUMENT SHOULD BE CONSIDERED A CONTRACT OR GUARANTEE OF WAGES OR
COMPENSATION. THE EMPLOYMENT RELATIONSHIP BETWEEN ENTERCOM COMMUNICATIONS CORP. OR ANY OF ENTERCOM'S SUBSIDIARIES AND EACH EMPLOYEE THEREOF REMAINS UNCHANGED. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
OFFER TO EXCHANGE HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR
ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED IN THIS OFFER TO EXCHANGE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=3,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=285127,FOLIO='blank',FILE='DISK127:[06PHI1.06PHI1071]KG1071A.;9',USER='YLEE',CD='23-JUN-2006;13:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ki1071_table_of_contents"> </A>
<A NAME="toc_ki1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>TABLE OF CONTENTS    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="78%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="CENTER"><FONT SIZE=1><B>Page</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3><FONT SIZE=2>SUMMARY TERM SHEET</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><BR><FONT SIZE=2> Section&nbsp;1.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2><BR>
Number of Shares of Restricted Stock; Expiration Date</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
12</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;2.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Purpose of the Offer and Plans and Proposals</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;3.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Procedures</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>15</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;4.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Withdrawal Rights</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;5.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Acceptance of Options for Exchange and Cancellation; Issuance of Restricted Stock</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;6.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Conditions of the Offer</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;7.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Price Range of Common Stock</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>21</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;8.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Source and Amount of Consideration; Terms of Restricted Stock</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>21</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;9.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Information About Entercom Communications Corp.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>23</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;10.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Interests of Directors and Officers; Transactions and Arrangements About the Options</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>24</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;11.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Status of Options Acquired by Us in the Offer; Accounting Consequences of the Offer</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>24</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;12.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Legal Matters; Regulatory Approvals</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>25</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;13.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Material U.S. Federal Income/Withholding Tax Consequences</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>25</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;14.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Extension of Offer; Termination; Amendment</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>26</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;15.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Fees and Expenses</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>27</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;16.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Additional Information</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>27</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="12%"><FONT SIZE=2>Section&nbsp;17.</FONT></TD>
<TD WIDTH="78%"><FONT SIZE=2>Forward Looking Statements; Miscellaneous</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>28</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3><BR><FONT SIZE=2> SCHEDULE A</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
30</FONT></TD>
</TR>
</TABLE>
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<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=4,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=902851,FOLIO='blank',FILE='DISK127:[06PHI1.06PHI1071]KI1071A.;10',USER='YLEE',CD='23-JUN-2006;13:03' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kk1071_index_to_summary_term_sheet"> </A>
<A NAME="toc_kk1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>INDEX TO SUMMARY TERM SHEET    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>QUESTIONS AND ANSWERS ABOUT THE OFFER</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
1.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2><BR>
What securities is Entercom offering to exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2><BR>
1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>2.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What are Eligible Options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>3.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Who are the Eligible Participants?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>4.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>If I accept the exchange offer, do I have to exchange all of my Eligible Options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>5.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>How many shares of Restricted Stock will I receive for the options I exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>6.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will I be required to pay cash for the shares of Restricted Stock that I receive in the exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>7.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will I receive any fractional shares of Restricted Stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>8.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will I receive any cash payment for my options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>9.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What will happen to any options I hold that are not eligible for the Offer or that I elect not to exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>10.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Why is Entercom making the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>11.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Are there conditions to this Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>12.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will this exchange result in dilution to existing stockholders?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>13.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Apart from receiving a grant of Restricted Stock, what are the consequences of participating in the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>14.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>How do I find out the details regarding my existing stock options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>15.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Can I exchange options that I have already exercised or shares that I have purchased through the Entercom Equity Compensation Plan?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2><BR>
QUESTIONS AND ANSWERS ABOUT THE RESTRICTED STOCK</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2><BR>
4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
16.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2><BR>
What is restricted stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2><BR>
4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>17.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>How does restricted stock differ from my employee stock options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>18.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>When will I receive my Restricted Stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>19.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will I receive a stock certificate for my shares of Restricted Stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>20.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will I need to countersign and return a restricted stock grant instrument?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>21.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What is the vesting schedule for the Restricted Stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>22.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What special vesting rules apply on account of death or disability?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>23.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What special vesting rules apply on retirement?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>24.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What effect will a Change of Control have on the Restricted Stock I receive in this exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>25.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What happens if my employment with the Company terminates and then I later rejoin the Company?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>26.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Under what circumstances will I forfeit the shares of Restricted Stock I receive in this exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>27.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What if I am an employee of the Company when the Offer expires, but I do not expect to be an employee when the shares of Restricted Stock begin to vest?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>28.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What are the other restrictions on the Restricted Stock?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>29.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Am I entitled to exercise any rights of ownership of Restricted Stock while the stock is subject to restriction?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>30.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will the Restricted Stock ever expire?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>31.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What is the source of the Restricted Stock that will be issued in exchange for my options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=5,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=845837,FOLIO='blank',FILE='DISK127:[06PHI1.06PHI1071]KK1071A.;9',USER='YLEE',CD='23-JUN-2006;13:03' -->
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>32.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>How does a leave of absence impact the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>33.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What are the tax consequences if I exchange my Eligible Options in the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>34.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>I am a Covered Person under the Entercom Securities Trading Policy how can I be certain that I will be able to sell shares to cover the applicable taxes?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="TOP"><FONT SIZE=2><BR>
QUESTIONS AND ANSWERS ABOUT THE PROCEDURES FOR ELECTING TO EXCHANGE</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2><BR>
8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
35.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2><BR>
When does the Offer expire? Can the Offer be extended, and if so, how will I know if it is extended?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2><BR>
8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>36.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What do I need to do?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>37.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>During what period of time may I change my previous election?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>38.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Do I have to return an Election Form if I do not want to exchange my Eligible Options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>39.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What happens if I don't submit an Election Form by the expiration date?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>40.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What happens to my options if I do not accept the Offer or if my options are not accepted for exchange?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>41.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Do I have to participate in the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>42.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What do the members of our board of directors think of this Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>43.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What are the risks in exchanging my stock options?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>44.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Is there any information regarding Entercom Communications Corp. that I should be aware of?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>45.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>What are the accounting consequences to Entercom Communications Corp. of making this Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>46.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Will someone at the Company advise me on what I should do in the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2>47.</FONT></TD>
<TD WIDTH="90%"><FONT SIZE=2>Whom should I contact if I have additional questions about the Offer?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1071_summary_term_sheet"> </A>
<A NAME="toc_km1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>SUMMARY TERM SHEET    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following are answers to some of the questions that you may have about this Offer. We urge you to read the entirety of this Offer to Exchange and the
accompanying Election Form carefully because the information in this summary is not complete. Where appropriate, we have included references to the relevant sections of this Offer to Exchange where
you can find a more complete description of the topics in this summary. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1071_questions_and_answers_about_the_offer"> </A>
<A NAME="toc_km1071_2"> </A>
<BR></FONT><FONT SIZE=2><B>QUESTIONS AND ANSWERS ABOUT THE OFFER    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;What securities is Entercom offering to exchange?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entercom is offering to exchange Eligible Options for restricted shares of our Class&nbsp;A common stock. The Eligible Options were granted under the Entercom
Equity Compensation Plan. (</FONT><FONT SIZE=2><I>See Question&nbsp;2 and Sections&nbsp;1 and 8</I></FONT><FONT SIZE=2>) </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
sometimes refer to the Entercom Equity Compensation Plan as the Plan. </FONT></P>

<P><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;What are Eligible Options?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligible Options are those currently outstanding stock options to purchase shares of our Class&nbsp;A common stock that were granted to Eligible Participants
under the Plan, that have an exercise price equal to or greater than $40.00 per share. We are offering to exchange only those options that are held by Eligible Participants that remain Eligible
Participants from the date of this Offer through the expiration of the Offer. (</FONT><FONT SIZE=2><I>See Question 3 and Section&nbsp;1</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;Who are the Eligible Participants?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You are eligible to participate in this Offer (an "</FONT><FONT SIZE=2><B>Eligible Participant</B></FONT><FONT SIZE=2>") only if you: (A)&nbsp;are an employee
of the Company or its subsidiaries ("</FONT><FONT SIZE=2><B>Employee</B></FONT><FONT SIZE=2>"), including Employees who are officers or members of the Company's board of directors; or (B)&nbsp;are
a non-employee member of the Company's board of directors ("</FONT><FONT SIZE=2><B>Non-Employee Directors</B></FONT><FONT SIZE=2>"). Each Eligible Participant will have an
opportunity to elect to participate in the Offer ("</FONT><FONT SIZE=2><B>Participants</B></FONT><FONT SIZE=2>"). (</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;If I accept the exchange offer, do I have to exchange all of my Eligible Options?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes. You must exchange all of your Eligible Options in order to participate in the exchange offer. (</FONT><FONT SIZE=2><I>See
Section&nbsp;1</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;How many shares of Restricted Stock will I receive for the options I exchange?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exchange ratio under this Offer to Exchange is fifteen-to-one, meaning that Participants must surrender Eligible Options to purchase
15 shares of Class&nbsp;A common stock in order to receive one new share of restricted Class&nbsp;A common stock ("</FONT><FONT SIZE=2><B>Restricted Stock</B></FONT><FONT SIZE=2>"). The number of
shares of Restricted Stock to be received by each participant in this Exchange Offer will be rounded (up or down) to the nearest whole number of shares. (</FONT><FONT SIZE=2><I>See
Section&nbsp;1</I></FONT><FONT SIZE=2>). </FONT></P>

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<P><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;Will I be required to pay cash for the shares of Restricted Stock that I receive in the exchange?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
will not be required to pay cash for the shares of Restricted Stock you receive. You will, however, be required to satisfy any withholding tax liability upon each vesting date of the
Restricted Stock. You may satisfy this obligation by electing to sell at least enough shares to cover the tax withholding obligation or paying us funds in satisfaction of the tax withholding
obligation. (</FONT><FONT SIZE=2><I>See Sections 1, 8 and 13</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;Will I receive any fractional shares of Restricted Stock?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No, we will not issue any fractional shares of Restricted Stock. The number of shares of Restricted Stock to be received by each Participant will be rounded (up
or down) to the nearest whole number of shares. (</FONT><FONT SIZE=2><I>See Section&nbsp;1, 5 and 8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;Will I receive any cash payment for my options?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. We will only issue you shares of Restricted Stock. You will not receive any cash payment upon the issuance of such shares. Upon the vesting of such shares,
however, you will also receive a cash payment equal to the amount of any dividends that you would have received as a result of your Restricted Stock but for the restriction on dividends described
below. (</FONT><FONT SIZE=2><I>See Question 29 and Sections 1 and 8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;What will happen to any options I hold that are not eligible for the Offer or that I elect not to exchange?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you elect to Participate in the Offer, your options that are not Eligible Options will remain outstanding and their existing terms and conditions will be
unchanged. If you do not elect to participate in the Offer, all of your options (including your Eligible Options) will remain outstanding and their existing terms and conditions will be unchanged.
(</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>10.&nbsp;&nbsp;&nbsp;&nbsp;Why is Entercom making the Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our board of directors believes that this Offer to Exchange will benefit the Company by (i)&nbsp;reducing overhang and decreasing the potential shareholder
dilution resulting from future equity incentive grants by enabling Entercom to make use of restricted stock grants, which require fewer shares than stock options to deliver comparable value;
(ii)&nbsp;making it easier to meet industry standards and shareholder
expectations for linking compensation with performance; and (iii)&nbsp;generally maximizing the alignment of employee and director interests with the Entercom's shareholders.
(</FONT><FONT SIZE=2><I>See Section&nbsp;2</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>11.&nbsp;&nbsp;&nbsp;&nbsp;Are there conditions to this Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although the Offer is not conditioned upon a minimum number of Eligible Options being tendered for exchange, the offer is subject to a number of other conditions
described in Section&nbsp;6. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2><B>12.&nbsp;&nbsp;&nbsp;&nbsp;Will this exchange result in dilution to existing stockholders?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If all of the Eligible Options outstanding as of May&nbsp;25, 2006 were exchanged for shares of Restricted Stock: (i)&nbsp;the number of shares underlying the
Company's outstanding options would decrease from approximately 5,989,979 shares to approximately 1,988,375 shares; and (ii)&nbsp;the Company would grant approximately 266,774 shares of Restricted
Stock pursuant to this Offer to Exchange. Eligible Options surrendered in connection with this Offer to Exchange (net of shares of Restricted Stock issued in exchange for such Eligible Options) will
not be available for issuance under the Plan. (</FONT><FONT SIZE=2><I>See Section&nbsp;2</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Offer to Exchange will not increase the number of shares available for future issuance under the Plan. Moreover, the Offer to Exchange is expected to reduce the number of shares
subject to outstanding options. For example, if all Eligible Options were surrendered in this Offer to Exchange: (i)&nbsp;we would issue approximately 266,774 shares of restricted stock;
(ii)&nbsp;we would have approximately 3,734,830 fewer shares of Class&nbsp;A common stock subject to outstanding awards (i.e., options and restricted stock); and (iii)&nbsp;the number of shares
Class&nbsp;A common stock available for issuance under the Plan would not change. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Immediately
after the closing of this Offer to Exchange, assuming 100% participation and no decrease in the number of Participants, outstanding options under the Plan would represent
approximately 4.9% of the Entercom's Class&nbsp;A common stock outstanding on a fully diluted basis, in comparison to approximately 14.9% as of May&nbsp;25, 2006. The actual net reduction in
options outstanding and options outstanding as a percentage of total shares outstanding will depend on a variety of factors, including the level of participation in the Offer to Exchange any
forfeitures or other grants under the Plan. </FONT></P>

<P><FONT SIZE=2><B>13.&nbsp;&nbsp;&nbsp;&nbsp;Apart from receiving a grant of Restricted Stock, what are the consequences of participating in the Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you elect to exchange your Eligible Options for shares of Restricted Stock, you also must: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>accept,
and agree to be bound by, the terms and conditions governing the Restricted Stock, as set forth in the form of restricted stock grant instrument included as
<U>Schedule&nbsp;A</U> to this Offer to Exchange (</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>acknowledge
that your outstanding option agreement relating to your Eligible Options has been cancelled and automatically rendered null and void, and thereby irrevocably
release all your rights thereunder (</FONT><FONT SIZE=2><I>See Sections&nbsp;3 and 5</I></FONT><FONT SIZE=2>); and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>satisfy
your tax withholding obligations by either electing to sell at least enough shares to cover such withholding obligation or pay Entercom, on the date on which the tax
is to be determined, cash in the amount necessary to satisfy the amount of applicable withholding taxes (</FONT><FONT SIZE=2><I>See Section&nbsp;13</I></FONT><FONT SIZE=2>). </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2><B>14.&nbsp;&nbsp;&nbsp;&nbsp;How do I find out the details regarding my existing stock options?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A summary sheet of your options has been provided to you with this Offer. In order to determine how many shares of Restricted Stock you are eligible to receive,
add up the number of Eligible Options you hold and then divide such number by 15. The result (rounded up or down to the nearest whole share) is the number of shares of Restricted Stock you may elect
to receive in exchange for your Eligible Options. </FONT></P>

<P><FONT SIZE=2><B>15.&nbsp;&nbsp;&nbsp;&nbsp;Can I exchange options that I have already exercised or shares that I have purchased through the Entercom Equity Compensation Plan?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. This Offer only pertains to unexercised options under the Plan. If you have exercised an option in its entirety, that option is no longer outstanding and is
therefore not subject to this Offer. If you elect to participate and you have partially exercised an Eligible Option, the remaining unexercised portion of that option is outstanding must be exchanged
pursuant to this Offer. Options for which you have properly submitted an exercise notice prior to the date this Offer expires will be considered exercised to that extent, whether or not you have
received confirmation of exercise for the shares purchased. (</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1071_questions_and_answers_about_the_restricted_stock"> </A>
<A NAME="toc_km1071_3"> </A>
<BR></FONT><FONT SIZE=2><B>QUESTIONS AND ANSWERS ABOUT THE RESTRICTED STOCK    <BR>    </B></FONT></P>


<P><FONT SIZE=2><B>16.&nbsp;&nbsp;&nbsp;&nbsp;What is restricted stock?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A share of restricted stock is a share of common stock with certain restrictions imposed either by the issuer or by operation of law, which restrictions include
the risk of forfeiture. Generally, the relevant restrictions are the applicable vesting periods and the provisions of the plan under which the restricted stock is granted. The value of restricted
stock is the market value of the underlying common stock at any given time. Generally a grant of unvested Restricted Stock is taxable to the recipient upon vesting. (</FONT><FONT SIZE=2><I>See
Sections 8 and 13</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>17.&nbsp;&nbsp;&nbsp;&nbsp;How does restricted stock differ from my employee stock options?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With options, the option holder only has a right to purchase shares of common stock at an established exercise price. Unlike options, when you receive restricted
stock you will become a holder of record of actual shares of our common stock, without any need to convert or exercise securities and without the need for any future payment of an exercise price.
Until shares of restricted stock vest, they remain subject to forfeiture, restrictions on transfer and other restrictions. The forfeiture, transfer and other restrictions on the restricted stock will
be set forth in a restricted stock grant instrument, a form of which is attached to this Offer to Exchange as <U>Schedule&nbsp;A</U>. Once your shares of Restricted Stock vest,
such shares become yours to hold, transfer or sell as you desire, subject to applicable securities laws and payment of withholding taxes. (</FONT><FONT SIZE=2><I>See
Section&nbsp;8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>18.&nbsp;&nbsp;&nbsp;&nbsp;When will I receive my Restricted Stock?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the conditions to this Offer are satisfied, Entercom will exchange the Eligible Options you properly elect to exchange promptly after the expiration of this
Offer. We will then provide you with a Restricted Stock grant instrument, in substantially the form of <U>Schedule&nbsp;A</U> to this </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<P><FONT SIZE=2>Offer
to Exchange, showing the number of shares of Restricted Stock you received in connection with this Offer. Our delivery of the restricted stock grant instrument will evidence our issuance to you
of shares of Restricted Stock that will be held in custody for you. (</FONT><FONT SIZE=2><I>See Section&nbsp;5</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>19.&nbsp;&nbsp;&nbsp;&nbsp;Will I receive a stock certificate for my shares of Restricted Stock?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No, you will not receive a stock certificate for your shares of Restricted Stock until such shares vest. Upon vesting and satisfaction of the applicable
withholding obligation, you can elect to either (i)&nbsp;have your shares electronically deposited to your brokerage account or (ii)&nbsp;have your shares delivered in the form of a stock
certificate. (</FONT><FONT SIZE=2><I>See Section&nbsp;8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>20.&nbsp;&nbsp;&nbsp;&nbsp;Will I need to countersign and return a restricted stock grant instrument?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. By completing and signing your Election Form, you agree to all of the terms and conditions contained in the form of restricted stock grant instrument attached
as <U>Schedule&nbsp;A</U> to this Offer to Exchange, as well as all other terms and conditions of this Offer. Once you receive the restricted stock grant instrument, you may
retain it for your files; you will not need to countersign it or any other restricted stock grant instrument or return a copy to us. (</FONT><FONT SIZE=2><I>See
Section&nbsp;3</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>21.&nbsp;&nbsp;&nbsp;&nbsp;What is the vesting schedule for the Restricted Stock?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming you continue to meet the requirements for vesting specified in the restricted stock grant instrument, the shares of Restricted Stock will vest
(i)&nbsp;50% on February&nbsp;15, 2007; and (ii)&nbsp;50% on February&nbsp;15, 2008. If a Participant who is an Employee ceases to be employed by the Company (other than as a result of death)
before such Participant's shares of Restricted Stock vest, such shares will be forfeited. If a Participant who is a Non-Employee Director ceases to serve as a director of the Company
(other than as a result of death) before such Participant's shares of Restricted Stock vest, such shares will be forfeited unless such Participant is willing to serve as a director of the Company but
is not reelected, in which case such Participant's shares of Restricted Stock shall become fully vested. Other restrictions regarding the Restricted Stock and the vesting thereof are set forth in the
form of restricted stock grant instrument attached as <U>Schedule&nbsp;A</U> to this Offer to Exchange and will be set forth in the grant instrument to be issued as of the
grant date thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Eligible Options are presently vested. The shares of Restricted Stock to be issued in connection with this Offer to Exchange, however, will not be vested.
(</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>22.&nbsp;&nbsp;&nbsp;&nbsp;What special vesting rules apply on account of death or disability?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you die before the full vesting of your Restricted Stock, such shares of Restricted Stock will become fully vested. There are no provisions for accelerated
vesting upon disability. (</FONT><FONT SIZE=2><I>See Questions 26 and Sections&nbsp;1 and 8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>23.&nbsp;&nbsp;&nbsp;&nbsp;What special vesting rules apply on retirement?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Participant who is an Employee ceases to be employed by the Company before such Participant's shares of Restricted Stock vest, such shares will be forfeited.
If a Participant who is </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

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<P><FONT SIZE=2>a
Non-Employee Director resigns or chooses to not stand for reelection as a director of the Company before such Participant's shares of Restricted Stock vest, such shares will be
forfeited. </FONT></P>

<P><FONT SIZE=2><B>24.&nbsp;&nbsp;&nbsp;&nbsp;What effect will a Change of Control have on the Restricted Stock I receive in this exchange?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Restricted Stock will be issued under the Plan. Pursuant to the Plan, a "</FONT><FONT SIZE=2><I>Change of Control</I></FONT><FONT SIZE=2>" is defined as
(a)&nbsp;any "person" becoming a "beneficial owner" of securities of the Company representing more than 50% of all votes required to elect a majority of the board of directors, provided that a
Change of Control shall not be deemed to occur as a result of a change of ownership resulting from the death of a shareholder; (b)&nbsp;the consummation by the Company of (i)&nbsp;a merger or
consolidation where the shareholders of the Company will not own more than 50% of all votes required to elect a majority of the board of directors of the surviving corporation or (ii)&nbsp;the
consummation of an agreement providing for the sale or disposition by the Company of all or substantially all of the assets of the Company; (c)&nbsp;a liquidation or dissolution of the Company; or
(d)&nbsp;any person completing a tender offer or exchange offer for shares representing more than 50% of all votes required to elect a majority of the Board. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
a Change of Control, and unless the Compensation Committee of the board of directors determines otherwise, all the restrictions placed on the Restricted Stock will immediately
lapse, and accordingly, each share of Restricted Stock will immediately vest. (</FONT><FONT SIZE=2><I>See Section&nbsp;8</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>25.&nbsp;&nbsp;&nbsp;&nbsp;What happens if my employment with the Company terminates and then I later rejoin the Company?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the case of a Participant who is an Employee, if such Participant's employment terminates for any reason, whether through resignation, retirement or other
voluntary termination or through any involuntary termination (other than as a result of death), all unvested shares of Restricted Stock shall be forfeited immediately upon termination. In the event
that such Participant is subsequently rehired, the unvested shares of Restricted Stock forfeited upon termination remain forfeited. In other words, shares of Restricted Stock that were forfeited are
not restored on any rehire. </FONT></P>

<P><FONT SIZE=2><B>26.&nbsp;&nbsp;&nbsp;&nbsp;Under what circumstances will I forfeit the shares of Restricted Stock I receive in this exchange?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Participant who is an Employee ceases to be employed by the Company (other than as a result of death) before such Participant's shares of Restricted Stock
vest, such shares will be forfeited. If a Participant who is a Non-Employee Director ceases to serve as a director of the Company (other than as a result of death) before such
Participant's shares of Restricted Stock vest, such shares will be forfeited unless such Participant is willing to serve as a director of the Company but is not reelected, in which case such
Participant's shares of Restricted Stock shall become fully vested. If a Participant dies while such Participant is an Employee or a Non-Employee Director, all unvested Restricted Stock
will become fully vested. (</FONT><FONT SIZE=2><I>See Sections 1 and 8</I></FONT><FONT SIZE=2>). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

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<P><FONT SIZE=2><B>27.&nbsp;&nbsp;&nbsp;&nbsp;What if I am an employee of the Company when the Offer expires, but I do not expect to be an employee when the shares of Restricted Stock begin to vest?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you do not expect to be an Employee when the shares of Restricted Stock vest, you should carefully consider whether you should participate in this Offer. Your
Eligible Options are currently fully vested. If you do not elect to participate in the Offer, then when your employment ends, you generally will be able to exercise your Eligible Options for
90&nbsp;days thereafter. If you elect to participate, however, your Eligible Options will be cancelled. If the shares of Restricted Stock you receive remain unvested when your employment ends, such
shares will be forfeited. (</FONT><FONT SIZE=2><I>See Section&nbsp;8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>28.&nbsp;&nbsp;&nbsp;&nbsp;What are the other restrictions on the Restricted Stock?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The restrictions on the Restricted Stock you will receive in this Offer will be set forth in the restricted stock grant instrument. Restricted Stock may not be
sold, transferred, assigned, pledged, or otherwise encumbered or disposed of until the shares vests. Until then, the Restricted Stock will be held in our custody or in the custody of the transfer
agent or maintained as restricted stock in a book entry account. Once your Restricted Stock vests, the stock will no longer be subject to forfeiture. (</FONT><FONT SIZE=2><I>See
Section&nbsp;8</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>29.&nbsp;&nbsp;&nbsp;&nbsp;Am I entitled to exercise any rights of ownership of Restricted Stock while the stock is subject to restriction?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until your shares of Restricted Stock vest, you will not have the right to vote the shares or receive dividends on such shares. Once your shares vest, however,
you will receive a cash payment equal to the amount of any dividends that you would have received during the restricted period but for the restrictions. In addition, after your shares vest, you will
receive dividends to the extent they are paid on outstanding shares of our stock. (</FONT><FONT SIZE=2><I>See Section&nbsp;8</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>30.&nbsp;&nbsp;&nbsp;&nbsp;Will the Restricted Stock ever expire?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares of Restricted Stock do not need to be exercised after they vest. Accordingly, unlike options, Restricted Stock does not expire. Rather, vesting just means
that the forfeiture and transfer restrictions will cease to apply and you will own the shares without any restrictions on your ownership rights. As a result, upon issuance the Restricted Stock will be
yours to hold, while upon vesting you will be free to transfer or sell it as you desire, subject to applicable securities laws and payment of applicable withholding taxes. (</FONT><FONT SIZE=2><I>See
Sections 8 and 13</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>31.&nbsp;&nbsp;&nbsp;&nbsp;What is the source of the Restricted Stock that will be issued in exchange for my options?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Restricted Stock will be issued under the Plan. (</FONT><FONT SIZE=2><I>See Section&nbsp;1 and 8</I></FONT><FONT SIZE=2>) </FONT></P>


<P><FONT SIZE=2><B>32.&nbsp;&nbsp;&nbsp;&nbsp;How does a leave of absence impact the Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligible Participants who are participating in sabbaticals approved by the Company or other leaves of absence approved by the Company may participate in the
Offer. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

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<P><FONT SIZE=2><B>33.&nbsp;&nbsp;&nbsp;&nbsp;What are the tax consequences if I exchange my Eligible Options in the Offer?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The grant of the Restricted Stock is not a taxable event (because the shares are subject to forfeiture). However, the vesting of such shares is a taxable event.
When your shares vest, you will have ordinary income equal to the market value of the shares on the vesting date. In connection with such vesting Entercom may be required to withhold funds from you to
cover your withholding tax obligation. You can satisfy such obligation by paying the applicable tax in cash or electing to sell enough shares to satisfy such tax withholding obligation; provided that
if you are a "</FONT><FONT SIZE=2><I>Covered Person</I></FONT><FONT SIZE=2>" under the Entercom Securities Trading Policy you may not be permitted to do so unless you take certain actions prior to
the vesting date. (</FONT><FONT SIZE=2><I>See Section&nbsp;13</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>34.&nbsp;&nbsp;&nbsp;&nbsp;I am a Covered Person under the Entercom Securities Trading Policy how can I be certain that I will be able to sell shares to cover the applicable taxes?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you are a "</FONT><FONT SIZE=2><I>Covered Person</I></FONT><FONT SIZE=2>" under the Entercom Securities Trading Policy (e.g., market vice presidents,
corporate personnel, etc), you may not be able to sell shares to satisfy your tax withholding obligation if the trading window is closed on the vesting date unless you have previously made an election
to do so. Specifically, during a period when the trading window is open, you may make an election to sell enough shares to cover the tax withholding upon the vesting of such shares; even if the
trading window is closed when the shares vest. Entercom will send an email to each Covered Person with details about how to make such an election. (</FONT><FONT SIZE=2><I>See
Section&nbsp;13</I></FONT><FONT SIZE=2>). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1071_questions_and_answers_about_th__que02757"> </A>
<A NAME="toc_km1071_4"> </A>
<BR></FONT><FONT SIZE=2><B>QUESTIONS AND ANSWERS ABOUT THE<BR>  PROCEDURES FOR ELECTING TO EXCHANGE    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>35.&nbsp;&nbsp;&nbsp;&nbsp;When does the Offer expire? Can the Offer be extended, and if so, how will I know if it is extended?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer expires on Thursday, July&nbsp;6, 2006, at 5:00&nbsp;P.M., Eastern Daylight Time, unless we extend it. No exceptions will be made to this deadline.
If you wish to exchange any Eligible Options for shares of Restricted Stock, you must return a properly completed and signed Election Form so that we receive it by this deadline. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
we do not currently intend to do so, we may, in our discretion, extend the Offer at any time. If we extend the Offer, we will publicly announce the extension no later than
9:00&nbsp;A.M., Eastern Daylight Time, on business day after the expiration date (as such expiration date may be extended). (</FONT><FONT SIZE=2><I>See Section&nbsp;14</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>36.&nbsp;&nbsp;&nbsp;&nbsp;What do I need to do?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you choose to participate in this Offer, you must complete, sign and return your Election Form and deliver it to us so that we receive it by 5:00&nbsp;P.M.,
Eastern Daylight Time, on Thursday, July&nbsp;6, 2006, unless the Offer is extended. We can reject any Election Forms received after this deadline. (</FONT><FONT SIZE=2><I>See Section&nbsp;3 and
14</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your
election will be effective only if RECEIVED by us by the deadline. To ensure timely delivery, we recommend that you send it by mail, well in advance of the expiration date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

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<P><FONT SIZE=2>Alternatively,
you may send your Election Form by fax to (610)&nbsp;660-5641</FONT><FONT SIZE=2><I>,</I></FONT><FONT SIZE=2> attention John C. Donlevie, Executive Vice President,
Secretary and General Counsel. Delivery by e-mail will not be accepted. Within 5 business days after receiving your Election Form, we will send you an e-mail confirming our
receipt of your Election Form. If you have questions about delivery, you may contact John C. Donlevie at (610)&nbsp;660-5610, or send an email to "option-exchange" followed by the
extension "@entercom.com". You should carefully review the Offer to Exchange, the Election Form, and all of their attachments before making your election. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
we extend the Offer beyond Thursday, July&nbsp;6, 2006, then you must sign and deliver the Election Form before the extended expiration of the Offer. We may reject any Election Form
or tendered options to the extent that we determine they were not properly executed or delivered or to the extent that we determine it is unlawful to accept the options tendered for exchange. If you
do not sign and deliver the Election Form before the Offer expires, it will have the same effect as if you rejected the Offer. We will make a decision to either accept all of the properly tendered
options or to reject them all on the business day after this Offer expires. (</FONT><FONT SIZE=2><I>See Sections 3, 6 and 14</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>37.&nbsp;&nbsp;&nbsp;&nbsp;During what period of time may I change my previous election?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You will have the right to withdraw your tendered options at any time before the expiration date of the Offer. We intend to make our decision to either accept all
properly tendered options or to reject them all on the business day after this Offer expires. (</FONT><FONT SIZE=2><I>See Sections 4 and 14</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>38.&nbsp;&nbsp;&nbsp;&nbsp;Do I have to return an Election Form if I do not want to exchange my Eligible Options?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. You need to complete and deliver the Election Form to us by the deadline specified above only if you choose to exchange all of your Eligible Options.
(</FONT><FONT SIZE=2><I>See Section&nbsp;3</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>39.&nbsp;&nbsp;&nbsp;&nbsp;What happens if I don't submit an Election Form by the expiration date?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you do not submit an Election Form by the expiration date, we will assume that you chose not to exchange any of your Eligible Options. </FONT></P>

<P><FONT SIZE=2><B>40.&nbsp;&nbsp;&nbsp;&nbsp;What happens to my options if I do not accept the Offer or if my options are not accepted for exchange?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing. If you do not accept the Offer, or if we do not accept any options tendered for exchange, you will keep all of your current options and you will not
receive any shares of Restricted Stock. No changes will be made to your current options. (</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2><B>41.&nbsp;&nbsp;&nbsp;&nbsp;Do I have to participate in the Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No. This is a voluntary program. Whether you choose to participate will have no effect on your future employment with the Company. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

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<P><FONT SIZE=2><B>42.&nbsp;&nbsp;&nbsp;&nbsp;What do the members of our board of directors think of this Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although our board of directors has approved this Offer, none of the members of our board of directors make any recommendation as to whether you should elect to
exchange or refrain from exchanging your Eligible Options for Restricted Stock. (</FONT><FONT SIZE=2><I>See Section&nbsp;17</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>43.&nbsp;&nbsp;&nbsp;&nbsp;What are the risks in exchanging my stock options?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because your Restricted Stock will be unvested when granted, there is a possibility that you may forfeit all of your Restricted Stock before it becomes vested.
Because the exchange ratio of options to restricted stock is less than one for one, at the end of the vesting period you will have fewer shares of Class&nbsp;A common stock than you would have had
upon exercising all of your options. If the price of our Class&nbsp;A common stock rises substantially above the exercise price of your current stock options, you could receive more gain by not
exchanging the options. On the other hand, if the stock price rises but does not substantially increase above the exercise price of your current options, you will likely benefit by exchanging the
options for restricted stock. (</FONT><FONT SIZE=2><I>See Section&nbsp;1</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>44.&nbsp;&nbsp;&nbsp;&nbsp;Is there any information regarding Entercom Communications Corp. that I should be aware of?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your decision of whether to accept or reject this Offer should take into account the factors described in this document as well as the various risks inherent in
our business. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Therefore,
before making your decision, you should carefully review this Offer, including the information about Entercom Communications Corp. set forth in Section&nbsp;9 of this
document. This information includes certain financial information that we have incorporated by reference in this Offer by reference to our Annual Report on Form&nbsp;10-K for the year
ended December&nbsp;31, 2005 and our Quarterly Reports on Form&nbsp;10-Q for each of the periods ended March&nbsp;31, 2005, June&nbsp;30, 2005 and March&nbsp;31, 2006.
(</FONT><FONT SIZE=2><I>See Section&nbsp;9</I></FONT><FONT SIZE=2>). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
may also find additional information about us on our website at www.entercom.com. The information on our website is not deemed to be a part of this Offer. </FONT></P>

<P><FONT SIZE=2><B>45.&nbsp;&nbsp;&nbsp;&nbsp;What are the accounting consequences to Entercom Communications Corp. of making this Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the provisions of Statement of Financial Accounting Standards No.&nbsp;123 (as revised 2004), "</FONT><FONT SIZE=2><I>Share-Based
Payment</I></FONT><FONT SIZE=2>," or SFAS&nbsp;123R, that was adopted by the Company on January&nbsp;1, 2006, modification accounting for stock-based compensation will apply to an exchange of
share-based awards. The Company will recognize additional share-based compensation expense if, at the time the Company first makes the Offer to Exchange, the fair value of the Restricted Stock issued
in connection with the Offer to Exchange is greater than the fair value of the surrendered Eligible Options. This difference in fair value will be recognized as an expense on a
straight-line basis over the vesting period of the Restricted Stock issued in connection with the Offer to Exchange. Based upon the Company's
current Class&nbsp;A common stock price (as reported on the NYSE) and assuming that there is no material change in the variables used to determine the fair </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>10</FONT></P>

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<P><FONT SIZE=2>value
of the surrendered Eligible Options, the Company does not expect to recognize any share-based compensation expense. (</FONT><FONT SIZE=2><I>See Section&nbsp;11</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>46.&nbsp;&nbsp;&nbsp;&nbsp;Will someone at the Company advise me on what I should do in the Offer?  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company cannot advise you on whether to keep or exchange your Eligible Options. We recommend you discuss your personal situation with your own professional
advisor and then decide whether or not to participate in the Offer. (</FONT><FONT SIZE=2><I>See Section&nbsp;13 and 17</I></FONT><FONT SIZE=2>) </FONT></P>

<P><FONT SIZE=2><B>47.&nbsp;&nbsp;&nbsp;&nbsp;Whom should I contact if I have additional questions about the Offer?  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For additional information about the Offer or the Plan, you can contact John C. Donlevie, Executive Vice President, Secretary and General Counsel at
(610)&nbsp;660-5610, send an email to "option-exchange" followed by the extension "@entercom.com". </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>11</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<A NAME="toc_ko1071_1"> </A>
<BR></FONT><FONT SIZE=2><B>THE OFFER    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Number of Shares of Restricted Stock; Expiration Date  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are offering our eligible employees and non-employee directors an opportunity to exchange certain of their outstanding stock options for shares of
Class&nbsp;A common restricted stock ("</FONT><FONT SIZE=2><B>Restricted Stock</B></FONT><FONT SIZE=2>"). We refer to this as the "</FONT><FONT SIZE=2><B>Offer</B></FONT><FONT SIZE=2>" or the
"</FONT><FONT SIZE=2><B>Offer to Exchange</B></FONT><FONT SIZE=2>." This Offer relates only to currently outstanding stock options to purchase shares of our Class&nbsp;A common stock with an
exercise price equal to or greater than $40.00 and that were granted under the Plan ("</FONT><FONT SIZE=2><B>Eligible Options</B></FONT><FONT SIZE=2>"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Plan is an employee benefit plan as defined in Rule&nbsp;405 under the Securities Act. As of May&nbsp;25, 2006, options to purchase approximately 5,989,979 shares of
Class&nbsp;A common stock were outstanding under the Plan. Approximately 4,001,604 of these options, with exercise prices ranging from $40.00 to $57.63, are eligible for exchange under this Offer to
Exchange. There are approximately 248 holders of Eligible Options. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are eligible to participate (an "</FONT><FONT SIZE=2><B>Eligible Participant</B></FONT><FONT SIZE=2>") in this Offer only if you: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>are
an employee of the Company or its subsidiaries ("</FONT><FONT SIZE=2><B>Employee</B></FONT><FONT SIZE=2>"), including Employees who are officers or members of the
Company's board of directors; or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>are
a non-employee member of the Company's board of directors ("</FONT><FONT SIZE=2><B>Non-Employee Director</B></FONT><FONT SIZE=2>"). </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the terms and subject to the conditions of this Offer, we will issue the Restricted Stock to Eligible Participants who elect to participate
("</FONT><FONT SIZE=2><B>Participants</B></FONT><FONT SIZE=2>") promptly following the expiration of the Offer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Offer is upon the terms and subject to the conditions described in this Offer to Exchange and the Election Form. We will not accept Eligible Options unless they are properly elected
for exchange and not validly withdrawn in accordance with Section&nbsp;4 of this Offer to Exchange before the Offer expires on the expiration date as defined below. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participants
must surrender an Eligible Option for 15 shares of Class&nbsp;A common stock in order to receive one share of Restricted Stock. The number of shares of Restricted Stock to
be received by each Participant will be rounded (up or down) to the nearest whole number of shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
will not be required to pay cash for the shares of Restricted Stock you receive. You will, however, be required to satisfy any withholding tax liability upon each vesting date of the
Restricted Stock. You may satisfy this obligation by electing to sell at least enough shares to cover your withholding obligation or paying us funds in satisfaction of the withholding obligation. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Restricted Stock issued in exchange for tendered Eligible Options will be issued under the Plan. The shares of Restricted Stock will be subject to forfeiture and other restrictions
until they vest under the terms of a restricted stock grant instrument, a form of which is included in this Offer to Exchange as <U>Schedule&nbsp;A</U>. By properly tendering
for exchange your Eligible </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_13"> </A>

<P><FONT SIZE=2>Options,
you will be deemed to have accepted the terms of, and agreed to be bound by, that form of restricted stock grant instrument. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming
you continue to meet the requirements for vesting specified in the restricted stock grant instrument, the shares of Restricted Stock will vest (i)&nbsp;50% on
February&nbsp;15, 2007; and (ii)&nbsp;50% on February&nbsp;15, 2008. If a Participant who is an Employee ceases to be employed by the Company (other than as a result of death) before such
Participant's shares of Restricted Stock vest, such shares will be forfeited. If a Participant who is a Non-Employee Director ceases to serve as a director of the Company (other than as a
result of death) before such Participant's shares of Restricted Stock vest, such shares will be forfeited unless such Participant is willing to serve as a director of the Company but is not reelected,
in which case such Participant's shares of Restricted Stock shall become fully vested. Other restrictions regarding the Restricted Stock and the vesting thereof are set forth in
the restricted stock grant instrument in <U>Schedule&nbsp;A</U> of this Offer to Exchange and will be set forth in the grant instrument to be issued as of the grant date
thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Eligible Options are presently vested. The shares of Restricted Stock to be issued in connection with this Offer to Exchange, however, will not be vested. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you die before the full vesting of your Restricted Stock, such shares of Restricted Stock will become fully vested. There are no provisions for accelerated vesting upon disability. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
are not required to exchange any Eligible Options. In order to participate, however, you must exchange all of your Eligible Options. You may not elect to only exchange a portion of
your Eligible Options. All Eligible Options properly tendered and not validly withdrawn before the expiration date will be exchanged for shares of Restricted Stock, upon the terms and subject to the
conditions described in this Offer to Exchange. This Offer is not conditioned upon a minimum number of Eligible Options being exchanged. This Offer is subject to the conditions described in
Section&nbsp;6 of this Offer to Exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
term "expiration date" means 5:00&nbsp;P.M., Eastern Daylight Time, on Thursday, July&nbsp;6, 2006, unless and until we, in our sole discretion, extend the period of time during
which the Offer will remain open. If we extend the period of time during which the Offer remains open, the term "expiration date" will refer to the latest time and date at which the Offer expires. See
Section&nbsp;14 for a description of our rights to extend, delay, terminate and amend the Offer and Section&nbsp;6 for a description of our rights to accept all of the properly tendered options or
to reject them all. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Purpose of the Offer and Plans and Proposals  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are making this Offer to Exchange because our board of directors believes that this Offer will benefit the Company by (i)&nbsp;reducing overhang and
decreasing the potential shareholder dilution resulting from future equity incentive grants by enabling the Entercom to make more use of restricted stock grants, which require fewer shares than stock
options to deliver comparable value; (ii)&nbsp;making it easier to meet industry standards and shareholder expectations for linking compensation with performance; and (iii)&nbsp;generally
maximizing the alignment of employee and director interests with the Entercom's shareholders. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
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<A NAME="page_ko1071_1_14"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
all of the Eligible Options outstanding as of May&nbsp;25, 2006 were exchanged for shares of Restricted Stock: (i)&nbsp;the number of shares underlying the Company's outstanding
options would decrease from approximately 5,989,979 shares to approximately 1,988,375 shares; and (ii)&nbsp;the Company would grant approximately 266,774 shares of Restricted Stock pursuant to this
Offer to Exchange. Eligible Options surrendered in connection with this Offer to Exchange (net of shares of Restricted Stock issued in exchange for such Eligible Options) will not be available for
issuance under the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
time to time, we evaluate, and sometimes undertake, strategic opportunities that may arise, including strategic alliances and acquisitions or dispositions of assets. On an ongoing
basis, we discuss these possible strategic alliances, acquisitions or dispositions with other companies. Further, from time to time we may make changes in our current board of directors or any
committee of the board of directors (including, but not limited to, changes to their size or composition, changes to the chairman designations, changes to the committee assignments and revisions to
our audit committee and compensation committee charters) including any changes that we deem necessary or appropriate in light of the requirements of the Sarbanes-Oxley Act of 2002 and the SEC rules
under it, the New York Stock Exchange's corporate governance rules and other or existing or future laws or regulations regarding corporate governance or other issues. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the foregoing, and except as otherwise disclosed in filings with the SEC, we currently have no definitive plans or proposals that relate to or would result in: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;an
extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving us or any of our subsidiaries; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;any
purchase, sale or transfer of a material amount of our assets or those of any of our subsidiaries; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;any
material change in our present dividend policy, or our indebtedness or capitalization; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;any
change in our current board of directors or management, including a change in the number or term of directors or to fill any existing board vacancies or to change
any material terms of the employment contracts of any of our executive officers, other than in the ordinary course of business; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;any
other material change in our corporate structure or business; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;our
common stock's not being authorized for listing on a national securities exchange; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;our
common stock's becoming eligible for termination of registration pursuant to Section&nbsp;12(g)(4) of the Securities Exchange Act; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;the
suspension of our obligation to file reports pursuant to Section&nbsp;15(d) of the Securities Exchange Act; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_15"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the
acquisition by any person of any of our securities or the disposition of any of our securities other than pursuant to the Entercom Equity Compensation Plan; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;any
change in our Articles of Incorporation or Bylaws, or any other actions, in each case which may impede the acquisition of control of Entercom Communications Corp. by
any person. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEITHER
WE NOR OUR BOARD OF DIRECTORS MAKES ANY RECOMMENDATION AS TO WHETHER YOU SHOULD ELECT TO EXCHANGE YOUR ELIGIBLE OPTIONS, NOR HAVE WE AUTHORIZED ANY PERSON TO MAKE ANY SUCH
RECOMMENDATION. YOU ARE URGED TO EVALUATE CAREFULLY ALL OF THE INFORMATION IN THIS OFFER TO EXCHANGE AND THE ACCOMPANYING ELECTION FORM AND TO CONSULT YOUR OWN INVESTMENT AND TAX ADVISORS. YOU MUST
MAKE YOUR OWN DECISION WHETHER TO ELECT TO EXCHANGE YOUR ELIGIBLE OPTIONS. </FONT></P>


<P><FONT SIZE=2><B>Section&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;Procedures  </B></FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Making Your Election.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To accept this Offer, you must make your election on the Election Form and sign
and deliver it to us so that we receive it before the expiration date, which is 5:00&nbsp;P.M., Eastern Daylight Time, Thursday, July&nbsp;6, 2006. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your
election will be effective only if </FONT><FONT SIZE=2><I>received</I></FONT><FONT SIZE=2> by us by the deadline. To ensure timely delivery, we recommend that you send it by mail,
well in advance of the expiration date, to: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Entercom
Communications Corp.<BR>
401 City Ave., Suite 809<BR>
Bala Cynwyd, PA 19004<BR>
Attn: John C. Donlevie<BR>
Executive Vice President, Secretary and General Counsel </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alternatively,
you may send your Election Form by fax to (610)&nbsp;660-5641, attention John C. Donlevie, Executive Vice President, Secretary and General Counsel. Delivery
by e-mail will not be accepted. Within 5 business days after receiving your Election Form, we will send you an e-mail confirming our receipt of your Election Form. If you have
questions about delivery, you may contact John C. Donlevie at (610)&nbsp;660-5610. You do not need to return your stock option agreements for your Eligible Options to effectively elect
to tender your Eligible Options. Your stock option agreements relating to your Eligible Options will be automatically cancelled and rendered null and void, upon our acceptance of your properly
tendered Eligible Options. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
tendering your Eligible Options and returning to us your completed Election Form, you are </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>accepting,
and agreeing to be bound by, the terms and conditions governing the Restricted Stock, as set forth in the form of restricted stock grant instrument included as
<U>Schedule&nbsp;A</U> to this Offer to Exchange; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_16"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>acknowledging
that your outstanding option agreement relating to your Eligible Options has been cancelled and automatically rendered null and void, and thereby irrevocably
releasing all your rights thereunder; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>agreeing
to satisfy any tax withholding obligations by either electing to sell at least enough shares to cover such withholding obligation or pay Entercom, on the date on
which the tax is to be determined, cash in the amount necessary to satisfy the amount of applicable withholding taxes. </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your
signature on, and return of, the Election Form will constitute your agreement to these terms, effective upon your valid tender of your Eligible Options and our acceptance of any
Eligible Options you may elect to exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
method of delivery of all documents, including the Election Form, is at your election and risk. If delivery is by mail, we recommend use of certified or registered mail, return
receipt requested. In all cases, you should allow sufficient time to ensure timely delivery. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B><I>Determination of Validity; Rejection of Options; Waiver of Defects; No Obligation to Give Notice of Defects.</I></B></FONT><FONT SIZE=2> We will determine, in our
discretion, all questions as to the number of shares subject to Eligible Options and the validity, form, eligibility (including time of receipt) and acceptance of Election Forms. Our determination of
these matters will be final and binding on all parties. We may reject any Election Form or tendered options to the extent that we determine they were not properly executed or delivered or to the
extent that we determine it is unlawful to accept the options tendered for exchange. As described in Section&nbsp;6, we will make a decision either to accept all of the properly tendered options or
to reject them all on the business day after this Offer expires. We may waive any defect or irregularity in any Election Form with respect to any particular options or any particular option holder. No
options will be properly tendered until all defects or irregularities have been cured by the option holder tendering the options or waived by us. Neither we nor any other person is obligated to give
notice of receipt of any Election Form or of any defects or irregularities involved in the exchange of any options, and no one will be liable for failing to give notice of receipt of any Election Form
or any defects or irregularities. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Acceptance Constitutes an Agreement.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If you elect to exchange your Eligible Options and you
return your Election Form according to the procedures described above, you will have accepted the terms and conditions of the Offer. Our acceptance of Eligible Options that are properly tendered for
exchange will form&nbsp;a binding agreement between you and us on the terms and subject to the conditions of this Offer on the date of our acceptance of your properly tendered and not validly
withdrawn Eligible Options. In addition, our acceptance of Eligible Options that you properly tender will bind you to the terms and conditions of the restricted stock grant instrument governing the
terms of your Restricted Stock and automatically will terminate your outstanding option agreement for your Eligible Options and render it null and void. A copy of the form of this restricted stock
grant instrument is attached to this Offer to Exchange as <U>Schedule&nbsp;A</U>. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_17"> </A>

<P><FONT SIZE=2><B>Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal Rights  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may withdraw tendered options only by following the procedures described in this Section&nbsp;4. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
may withdraw the options you have elected to exchange at any time before 5:00&nbsp;P.M., Eastern Daylight Time, on Thursday, July&nbsp;6, 2006. If the Offer is extended by us
beyond that time, you may withdraw your options at any time until the extended expiration of the Offer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
can also withdraw your options elected for exchange after the expiration of this Offer if we have not provided notice that we have accepted options elected for exchange by
August&nbsp;2, 2006. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
validly withdraw the options you have elected to tender for exchange, you must deliver to us at the address set forth in Section&nbsp;3 above a written notice of withdrawal with the
required information listed below and we must </FONT><FONT SIZE=2><I>receive</I></FONT><FONT SIZE=2> the notice of withdrawal before the expiration time. We will only accept a paper copy of your
notice of withdrawal. Delivery by e-mail will not be accepted. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
notice of withdrawal must specify the name of the option holder who is electing to withdraw. Except as described in the following sentence, the notice of withdrawal must be executed
by the option holder who elected to exchange the options sought to be withdrawn, exactly as such option holder's name appears on the option agreement or agreements evidencing such options. If the
signature is by a trustee, executor, administrator, guardian, attorney-in-fact, officer of a corporation or another person acting in a fiduciary or representative capacity, the
signor's full title and proper evidence of the authority of such person to act in such capacity must be indicated on the notice of withdrawal. Providing us with a properly completed and signed Notice
of Election to Withdraw form, which has been provided to you in connection with this Offer, will constitute a proper notice of withdrawal. It is your responsibility to confirm that we received your
withdrawal notice before the expiration time. You may not withdraw only a portion of your Eligible Options. If we receive a notice of withdrawal that attempts to withdraw less than all of your
Eligible Options, we may, at our complete discretion, accept that as a notice of withdrawal with respect to all Eligible Options or as an invalid notice of withdrawal. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
may not rescind any withdrawal, but you may re-elect to exchange Eligible Options. Any options you withdraw will thereafter be deemed not properly elected for exchange
for purposes of the Offer unless you properly re-elect to exchange those options before the expiration date by submitting a new Election Form and following the procedures described above. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
discussed in Section&nbsp;6, we intend to make our decision either to accept all properly tendered options or to reject them all on the business day after this Offer expires. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
we nor any other person is obligated to give notice of any defects or irregularities in any new Election Form or notice of withdrawal, and no one will be liable for failing to
give notice of receipt of any Election Form or any defects or irregularities. We will determine, in our discretion, all questions as to the form and validity, including time of receipt, of new
Election Forms and notices of withdrawal. Our determinations of these matters will be final and binding. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_18"> </A>

<P><FONT SIZE=2><B>Section&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;Acceptance of Options for Exchange and Cancellation; Issuance of Restricted Stock  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the terms and subject to the conditions of this Offer, if we decide to accept all properly tendered options as described in Section&nbsp;3, we will
promptly exchange the Eligible Options and cancel all Eligible Options properly tendered and not validly withdrawn before the expiration date. Upon our acceptance of your Eligible Options you elect to
tender for exchange, your currently outstanding option agreements relating to the tendered Eligible Options will be cancelled and automatically rendered null and void and you, by tendering your
Eligible Options, irrevocably release all of your rights thereunder. Although your right to the Restricted Stock will accrue promptly after the expiration of this Offer if we decide to accept your
Eligible Options, promptly after expiration of this Offer you will receive a letter from us informing you of our acceptance of your election to participate in the Offer and of your right to receive
shares of Restricted Stock in accordance with the terms of this Offer. The exchange date, and the effective issue date for the shares of Restricted Stock, will be promptly after the expiration of this
Offer. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;Conditions of the Offer  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of the Offer, we will not be required to accept any Eligible Options elected for exchange, and we may terminate or amend the
Offer, or postpone our acceptance and cancellation of any Eligible Options elected for exchange, in each case, subject to certain securities laws limitations, if at any time on or after June&nbsp;5,
2006 and before the expiration date of this Offer any of the following events has occurred, or has been determined by us to have occurred, and, in our reasonable judgment in any such case and
regardless of the circumstances giving rise thereto, the occurrence of such event or events makes it inadvisable for us to proceed with the Offer or with such acceptance and cancellation of Eligible
Options elected for exchange: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;if
we are required by the Securities and Exchange Commission or other regulatory agency to extend the expiration date beyond July&nbsp;6, 2006; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;there
shall have been threatened in writing or instituted or be pending any action or proceeding by any government or governmental, regulatory or administrative agency,
authority or tribunal or any other person, domestic or foreign, before any court, authority, agency or tribunal that directly or indirectly challenges the making of this Offer, the acquisition of some
or all of the options elected for tender pursuant to this Offer; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;there
shall have been any action threatened in writing, pending or taken, or approval withheld, or any statute, rule, regulation, judgment, order or injunction
threatened, proposed, sought, promulgated, enacted, entered, amended, enforced or deemed to be applicable to this Offer or us, by any court or any authority, agency or tribunal that would or might: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;make
the acceptance for exchange or the exchange for restricted stock of some or all of the options elected for exchange illegal or otherwise restrict or prohibit
consummation of this Offer; </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
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<A NAME="page_ko1071_1_19"> </A>
<UL>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;delay
or restrict our ability, or render us unable, to accept for exchange or to exchange for restricted stock some or all of the options elected for exchange; or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;materially
and adversely affect the business, condition (financial or other), income, operations or prospects of Entercom; </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;there
shall have occurred: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any
general suspension of trading in, or limitation on prices for, securities on any national securities exchange or in the over-the-counter
market; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;the
declaration of a banking moratorium or any suspension of payments in respect of banks in the United States, whether or not mandatory; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;the
commencement or escalation of a war, armed hostilities or other international or national crisis directly or indirectly involving the United States; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;any
limitation, whether or not mandatory, by any governmental, regulatory or administrative agency or authority on, or any event that might affect, the extension of
credit by banks or other lending institutions in the United States; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;any
decrease of greater than 50% of the market price of the shares of our Class&nbsp;A common stock or any change in the general political, market, economic or
financial conditions in the United States or abroad that could have a material adverse effect on the business, condition (financial or other), operations or prospects of Entercom or on the trading in
our Class&nbsp;A common stock; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;in
the case of any of the foregoing existing at the time of the commencement of this Offer, a material acceleration or worsening thereof; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;any
decline in either the Dow Jones Industrial Average or the Standard and Poor's Index of 500 Companies by an amount in excess of 10% measured during any time period
after the close of business on June&nbsp;5, 2006; </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;there
shall have occurred any change in generally accepted accounting standards which could or would require us for financial reporting purposes to record compensation
expense against our earnings in connection with this Offer; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;a
tender or exchange offer with respect to some or all of our Class&nbsp;A common stock, or a merger or acquisition proposal for us, shall have been proposed,
announced or made by another person or entity or shall have been publicly disclosed, or we shall have learned that: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any
person, entity or group within the meaning of Section&nbsp;13(d)(3) of the Securities Exchange Act, shall have acquired or proposed to acquire beneficial ownership
of more than 5% of the outstanding shares of our Class&nbsp;A </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_20"> </A>
<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>common
stock, or any new group shall have been formed that beneficially owns more than 5% of the outstanding shares of our Class&nbsp;A common stock, other than any such person, entity or group that
has filed a Schedule&nbsp;13D or Schedule&nbsp;13G with the SEC on or before June&nbsp;2, 2006; </FONT></P>

<UL>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;any
such person, entity or group that has filed a Schedule&nbsp;13D or Schedule&nbsp;13G with the SEC on or before June&nbsp;2, 2006 shall have acquired or
proposed to acquire beneficial ownership of an additional 2% or more of the outstanding shares of our Class&nbsp;A common stock; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;any
person, entity or group shall have filed a Notification and Report Form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, or
made a public announcement reflecting an intent to acquire us or any of our assets or securities; </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;we
determine in our reasonable judgment that the Offer will not have the benefits or serve the purposes described in Section&nbsp;2 of the Offer; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;any
change or changes shall have occurred in the business, condition (financial or other), assets, income, operations, prospects or stock ownership of us or our
subsidiaries that, in our reasonable judgment, will or may (a)&nbsp;have a material adverse effect on us or our subsidiaries, or (b)&nbsp;be materially beneficial to us or our stockholders and
that could be precluded, delayed or impeded by the Offer. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
conditions to the Offer are for our benefit. We may assert them at our discretion regardless of the circumstances giving rise to them prior to the expiration of the Offer. Other than
those dependent on receipt of necessary government approvals, we may waive them, in whole or in part, at any time and from time to time prior to the expiration of the Offer, in our discretion, whether
or not we waive any other condition to the Offer. Our failure at any time to exercise any of these rights will not be deemed a waiver of any such rights. The waiver of any of these rights with respect
to particular facts and circumstances will not be deemed a waiver with respect to any other facts and circumstances. Any determination we make concerning the events described in this section will be
final and binding upon all persons. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that we determine to terminate or amend the Offer, or postpone our acceptance and cancellation of any Eligible Options elected for exchange, we will inform you of such
determination promptly and (to the extent that doing so would not, in our reasonable judgment, violate obligations of confidentiality or be contrary to our best interests) notify you of the event or
events upon which we based our decision. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_ko1071_1_21"> </A>

<P><FONT SIZE=2><B>Section&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;Price Range of Common Stock  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There is no established trading market for the Eligible Options. Our Class&nbsp;A common stock is quoted on the New York Stock Exchange under the symbol "ETM."
The following table shows, for the periods indicated, the high and low sales prices per share of our Class&nbsp;A common stock as quoted on the New York Stock Exchange. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="69%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="72%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>High</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Low</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2><B>Year Ended December 31, 2004</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>First Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>53.80</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>42.80</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Second Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>50.07</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>35.23</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Third Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>40.02</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>32.15</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Fourth Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>36.90</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>30.25</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><BR><FONT SIZE=2><B>Year Ended December 31, 2005</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>First Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>36.41</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>30.86</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Second Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>35.75</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>31.39</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Third Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>33.69</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>29.00</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Fourth Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>33.07</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>27.70</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><BR><FONT SIZE=2><B>Year Ending December 31, 2006</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>First Quarter</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>31.31</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>27.57</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%"><FONT SIZE=2>Second Quarter (April 1 through May 30, 2006)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>31.72</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>25.97</FONT></TD>
</TR>
</TABLE></DIV>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of May&nbsp;30, 2006, the last reported sale price of our common stock, as quoted on the New York Stock Exchange, was $26.83 per share. </FONT></P>

<P><FONT SIZE=2>WE
RECOMMEND THAT YOU OBTAIN CURRENT MARKET QUOTATIONS FOR OUR COMMON STOCK BEFORE DECIDING WHETHER TO ELECT TO EXCHANGE YOUR OPTIONS. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;Source and Amount of Consideration; Terms of Restricted Stock  </B></FONT></P>


<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consideration.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Holders must surrender Eligible Options to purchase 15 shares of Class&nbsp;A common
stock in order to receive one share of Restricted Stock. The number of shares of Restricted Stock to be received by each participant in this Offer to Exchange will be rounded (up or down) to the
nearest whole number. The Restricted Stock issued in exchange for the Eligible Options will be issued under the Plan. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terms of Restricted Stock.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Restricted Stock will be upon the terms and subject to the conditions
of the Plan and the restricted stock grant instrument. Our statements concerning the Plan and the Restricted Stock are merely summaries and do not purport to be complete. The statements are subject
to, and are qualified in their entirety by reference to, all provisions of the Plan and the restricted stock grant instrument. The form of restricted stock grant instrument is attached to this Offer
to Exchange as Schedule&nbsp;A and has been filed as an exhibit to our Tender Offer Statement on Schedule TO, which has been filed with the SEC. Please contact John C. Donlevie at
(610)&nbsp;660-5610, or send an email to "option-exchange" followed by the extension "@entercom.com", to receive copies of the Entercom Equity Compensation Plan or form of the restricted
stock grant instrument. Copies will be furnished promptly at our expense. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2><A
NAME="page_kq1071_1_22"> </A> </FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of Restricted Stock you can receive in exchange for tendered Eligible Options accepted by us will be subject to forfeiture and other restrictions until the shares of
Restricted Stock vest. These restrictions include prohibitions against sale, assignment, transfer, exchange, pledge, hypothecation or other encumbrance, other than by will or the laws of descent and
distribution, in each case until the shares have vested. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vesting and Forfeiture.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The shares of Restricted Stock issued in exchange for the Eligible Options
will be unvested at the time of grant. Assuming continued employment by Entercom or service on the board of directors, the shares of Restricted Stock will vest as follows: (i)&nbsp;50% on
February&nbsp;15, 2007; and (ii)&nbsp;50% on February&nbsp;15, 2008. All Eligible Options are presently vested. The shares of Restricted Stock to be issued in connection with this Offer to
Exchange, however, will not be vested. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change of Control.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Restricted Stock will be issued under the Plan. Pursuant to the Plan, a
"</FONT><FONT SIZE=2><I>Change of Control</I></FONT><FONT SIZE=2>" is defined as (a)&nbsp;any "person" becoming a "beneficial owner" of securities of the Company representing more than 50% of all
votes required to elect a majority of the board of directors, provided that a Change of Control shall not be deemed to occur as a result of a change of ownership resulting from the death of a
shareholder; (b)&nbsp;the consummation by the Company of (i)&nbsp;a merger or consolidation where the shareholders of the Company will not own more than 50% of all votes required to elect a
majority of the board of directors of the surviving corporation or (ii)&nbsp;the consummation of an agreement providing for the sale or disposition by the Company of all or substantially all of the
assets of the Company; (c)&nbsp;a liquidation or dissolution of the Company; or (d)&nbsp;any person completing a tender offer or exchange offer for shares representing more than 50% of all votes
required to elect a majority of the Board. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
a Change of Control, and unless the Compensation Committee of the board of directors determines otherwise, all the restrictions placed on the Restricted Stock will immediately
lapse, and accordingly, each share of Restricted Stock will immediately vest. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Certificates.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Until your Restricted Stock vests, it will be maintained as restricted stock in a
book entry account. Upon vesting and satisfaction of the applicable withholding obligation, you can elect to either (i)&nbsp;have your shares electronically deposited to your brokerage account or
(ii)&nbsp;have your shares delivered in the form of a stock certificate. Notwithstanding the foregoing, we reserve the right from time to time to alter the mechanics of stock deposit, as they apply
to your Restricted Stock. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights of a Stockholder.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Until the shares vest, the holder will not have the right to vote the shares
or receive dividends in such shares; provided that upon vesting, in addition to receiving outright ownership
of the shares of stock, you will receive a cash payment equal to the amount of any dividends that would have been paid on such shares if they had been vested. Even before the Restricted Stock vests,
we will deliver to you, by mail or otherwise, all notices of meetings, proxy statements, proxies and other materials distributed to our stockholders. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Consequences.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;You should refer to Section&nbsp;13 for a discussion of the U.S. federal income
tax and withholding tax consequences of the exchange of Eligible Options for shares of Restricted Stock pursuant to this Offer. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_kq1071_1_23"> </A>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration of Shares of Restricted Stock.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All shares of Restricted Stock issuable in connection
with this Offer have been registered under the Securities Act on a registration statement on Form&nbsp;S-8 filed with the SEC. Unless you are considered an affiliate of Entercom, upon
vesting you will be able to sell your shares of unrestricted stock free of any transfer restrictions under applicable securities laws. If you are an affiliate of Entercom, you will be subject to
Rule&nbsp;144 of the Securities Act of 1933 and if you are a director or executive officer of the Company you will be subject to the reporting requirements and short-swing trading restrictions of
Section&nbsp;16 of the Securities Exchange Act of 1934. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;Information About Entercom Communications Corp.  </B></FONT></P>


<P><FONT SIZE=2><B><I>General  </I></B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entercom is one of the largest radio broadcasting companies in the United States based on revenues. We were organized in 1968 as a Pennsylvania corporation. Today
we operate in 20 markets, including Boston, Seattle, Denver, Sacramento, Portland, Kansas City, Indianapolis, Milwaukee, New Orleans, Norfolk, Buffalo, Memphis, Providence, Greensboro, Rochester,
Greenville/Spartanburg, Madison, Wichita, Wilkes-Barre/Scranton and Gainesville/Ocala. The primary source of revenues for our radio stations is the sale of advertising time to local, regional and
national spot advertisers and national network advertisers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
principal office is located at 401 City Avenue, Suite 809, Bala Cynwyd, Pennsylvania 19004. Our Internet address is www.entercom.com. You may obtain through our Internet website,
free of charge, copies of our annual reports on Form&nbsp;10-K, quarterly reports on Form&nbsp;10-Q, current reports on Form&nbsp;8-K, and Proxy Statements on
Schedule&nbsp;14A including any amendments to those reports or other information filed or furnished pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act. These reports will be available as
soon as reasonably practicable after we electronically file such material with, or furnish such material to, the Securities and Exchange Commission, or SEC. You can also obtain these reports directly
from the SEC at their website www.sec.gov or you may visit the SEC in person at the SEC's Public Reference Room at Station Place, 100 F. Street, N.E., Washington, D.C. 20549. You may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. We will also provide a copy of our most recent annual report on
Form&nbsp;10-K upon any written request by a shareholder. </FONT></P>

<P><FONT SIZE=2><B><I>Additional Financial Information  </I></B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Tender Offer Statement on Schedule TO that we filed with the SEC in connection with this Offer to Exchange incorporates certain financial information about
Entercom Communications Corp. included in: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Annual Report to our stockholders for the fiscal year ended December&nbsp;31, 2005; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Quarterly Reports on Form&nbsp;10-Q for each of the quarters ended March&nbsp;31, June&nbsp;30, and September&nbsp;30, 2005 and March&nbsp;31,
2006. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_kq1071_1_24"> </A>
<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
see Section&nbsp;16 of this document for information about how to obtain copies of our SEC filings. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;Interests of Directors and Officers; Transactions and Arrangements About the Options  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our directors and executive officers, their positions and offices and the number and percentage of Eligible Options that each of them hold, in each case as of as
of May&nbsp;25, 2006, are set forth in the following table. The address of each director and executive officer is c/o Entercom Communications Corp., 401 City Avenue, Suite 809, Bala Cynwyd,
Pennsylvania. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="26%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="41%" ALIGN="CENTER"><FONT SIZE=1><B>Positions And Offices Held</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1><B>Eligible<BR>
Options<BR>
Beneficially<BR>
Owned</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER"><FONT SIZE=1><B>Percentage<BR>
Of<BR>
Outstanding<BR>
Eligible<BR>
Options</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>Joseph M. Field</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Chairman of the Board</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>463,333</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>11.6</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>David J. Field</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director and Chief Executive Officer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>598,333</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>15.0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>John C. Donlevie</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director, Executive Vice President, Secretary and General Counsel</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>171,666</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>4.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>Stephen F. Fisher</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Executive Vice President and Chief Financial Officer</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>361,667</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>9.0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>David J. Berkman</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>22,500</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>Daniel E. Gold</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>Edward H. West</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="26%"><FONT SIZE=2>Robert S. Wiesenthal</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="41%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=3><FONT SIZE=2>All directors and executive officers as a group (8 persons)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>1,642,499</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>40.6</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<BR>
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<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Less
than 1%. </FONT></DD></DL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
have been no transactions in options to purchase our common stock effected during the past 60&nbsp;days by the Company, or to our knowledge, by any executive officer, director,
or affiliate of the Company other than the forfeiture of options by departing employees in the ordinary course of business. For more detailed information regarding our directors and executive officers
and their beneficial ownership of our common stock, you can consult our Annual Proxy Statement for the 2006 Annual Meeting of Shareholders, filed with the SEC on April&nbsp;7, 2006. </FONT></P>


<P><FONT SIZE=2><B>Section&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;Status of Options Acquired by Us in the Offer; Accounting Consequences of the Offer  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligible Options surrendered in connection with this Offer to Exchange (net of shares of Restricted Stock issued in exchange for such options) will not be
available for issuance under the Plan. Under the provisions of Statement of Financial Accounting Standards No.&nbsp;123 (as revised 2004), "</FONT><FONT SIZE=2><I>Share-Based
Payment</I></FONT><FONT SIZE=2>," or SFAS&nbsp;123R, that was adopted by the Company on January&nbsp;1, 2006, modification accounting for stock-based compensation will apply to an exchange of
share-based awards. The Company will recognize additional share-based compensation expense if, at the time the Company first makes the Offer to Exchange, the fair </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P><FONT SIZE=2>value
of the Restricted Stock issued in connection with the Offer to Exchange is greater than the fair value of the surrendered Eligible Options. This difference in fair value will be recognized as an
expense on a straight-line basis over the vesting period of the Restricted Stock issued in connection with the Offer to Exchange. Based upon the Company's current Class&nbsp;A common
stock price (as reported on the NYSE) and assuming that there is no material change in the variables used to determine the fair value of the surrendered Eligible Options, the Company does not expect
to recognize any share-based compensation expense. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;Legal Matters; Regulatory Approvals  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are not aware of any license or regulatory permit material to our business that might be adversely affected by the Offer, or of any approval or other action by
any governmental, administrative or regulatory authority or agency that is required for the acquisition or ownership of the Eligible Options or the issuance of the Restricted Stock in exchange for
Eligible Options as described in the Offer. If any other approval or action should be required, we presently intend to seek the approval or endeavor to take the action. This could require us to delay
the acceptance of, and exchange for, Eligible Options returned to us. We cannot assure you that we would be able to obtain any required approval or take any other required action. Our failure to
obtain any required approval or take any required action might result in harm to our business. Our obligation under the Offer to accept exchanged options and to issue Restricted Stock is subject to
the conditions described in Section&nbsp;6. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;Material U.S. Federal Income/Withholding Tax Consequences  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a general summary of material U.S. federal income tax and withholding tax consequences only for U.S. citizens and residents of the exchange of
Eligible Options for Restricted Stock pursuant to this Offer. This discussion is based on the Internal Revenue Code of 1986, as amended (the Code), its legislative history, Treasury Regulations
thereunder and administrative and judicial interpretations thereof, as of the date hereof, all of which are subject to change (possibly on a retroactive basis). This summary does not discuss all the
tax consequences that may be relevant to you in light of your particular circumstances and it is not intended to be applicable in all respects to all categories of stockholders. </FONT></P>


<P><FONT SIZE=2>YOU
ARE URGED TO CONSULT YOUR OWN TAX ADVISOR WITH RESPECT TO THE FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES OF PARTICIPATING IN
THIS OFFER, AS WELL AS ANY TAX CONSEQUENCES ARISING UNDER THE LAWS OF ANY OTHER TAXING JURISDICTION. </FONT></P>

<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;There are no immediate tax consequences of receiving Restricted Stock in exchange for your
Eligible Options. Upon vesting, you will be required to recognize ordinary income in an amount equal to the fair market value of the vested shares of Restricted Stock as of the vesting date. We may
also have a withholding tax obligation with respect to amounts you recognize as ordinary income. All taxes that must be withheld with respect to that income will be due in cash to the Company
immediately, as described below. Your acceptance of the Offer will constitute your agreement to either (i)&nbsp;pay us, in cash, the amount necessary to satisfy withholding tax requirements at the
time such shares of Restricted Stock vest, as described </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>25</FONT></P>

<HR NOSHADE>
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<A NAME="page_kq1071_1_26"> </A>

<P><FONT SIZE=2>below;
or (ii)&nbsp;elect to sell at least enough shares to cover the to satisfy withholding tax requirements at the time such shares of Restricted Stock vest. </FONT></P>


<P><FONT SIZE=2><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withholding Taxes.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon vesting, we may have a withholding tax obligation, much like the obligation
that arises when we pay you your salary or a bonus. This ordinary income will be reflected on your year-end W-2. In order to satisfy the payment of this withholding tax
obligation, by accepting this Offer, you agree either (i)&nbsp;pay us, in cash, the amount necessary to satisfy withholding tax requirements; or (ii)&nbsp;elect to sell at least enough shares to
cover the to satisfy withholding tax requirements. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you are a "</FONT><FONT SIZE=2><I>Covered Person</I></FONT><FONT SIZE=2>" under the Entercom Securities Trading Policy (e.g., market vice presidents, corporate personnel, etc), you
may not be able to sell shares to satisfy your tax withholding obligation if the trading window is closed on the vesting date unless you have previously made an election to do so. Specifically, during
a period when the trading window is open, you may make an election to sell enough shares to cover the tax withholding upon the vesting of such shares; even if the trading window is closed when the
shares vest. Entercom will send an email to each Covered Person with details about how to make such an election. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the vesting of your Restricted Stock, you will also recognize ordinary income with respect to any accrued dividends paid to you upon vesting. Those amounts may also be subject to
withholding. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;Extension of Offer; Termination; Amendment  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may at any time and from time to time, extend the period of time during which the Offer is open and delay accepting any Eligible Options surrendered or
exchanged by publicly announcing the extension and giving oral or written notice of the extension to the option holders. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the expiration date of the Offer, we may postpone our decision of whether or not to accept and cancel any Eligible Options in our discretion. In order to postpone accepting or
canceling, we must publicly announce the postponement and give oral or written notice of the postponement to the option holders. Our right to delay accepting and canceling Eligible Options is limited
by Rule&nbsp;13e-4(f)(5) under the Securities Exchange Act, which requires that we must pay the consideration offered or return the surrendered options promptly after we terminate or
withdraw the Offer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the expiration date of the Offer, we may terminate the Offer if any of the conditions described in Section&nbsp;6 occurs. In such an event, any tendered Eligible Options will
continue to be held by the tendering option holder as if no tender had occurred. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
long as we comply with any applicable laws, we reserve the right, in our sole discretion, to amend the Offer in any way, including decreasing or increasing the consideration offered
in the Offer to option holders or by changing the number or type of options eligible to be exchanged in the Offer. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
may amend the Offer at any time by publicly announcing the amendment. If we extend the length of time during which the Offer is open, the amendment must be issued no later </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P><FONT SIZE=2>than
9:00&nbsp;A.M., Eastern Daylight Time, on business day after the expiration date (as such expiration date may be extended). Any public announcement relating to the Offer will be made by issuing
a press release. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
we materially change the terms of the Offer or the information about the Offer, or if we waive a material condition of the Offer, we will extend the Offer to the extent required by
Rules&nbsp;13e-4(d)(2) and 13e-4(e)(3) under the Securities Exchange Act. Under these rules, the minimum period an Offer must remain open following material changes in the
terms of the Offer or information about the Offer, other than a change in price or a change in percentage of securities sought, will depend on the facts and circumstances. </FONT></P>


<P><FONT SIZE=2><B>Section&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;Fees and Expenses  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not pay any fees or commissions to any broker, dealer or other person for asking option holders to tender Eligible Options under this Offer. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;Additional Information  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Offer to Exchange is a part of a Tender Offer Statement on Schedule TO that we have filed with the SEC. This Offer to Exchange does not contain all of the
information contained in the Schedule TO and the exhibits to the Schedule TO. We recommend that you review the Schedule TO, including its exhibits, and the following materials that we have filed with
the SEC before making a decision on whether to sell your options: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;our
annual report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2005, filed with the SEC on February&nbsp;24, 2006; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;our
definitive proxy statement for our 2006 Annual Meeting of Stockholders on Schedule&nbsp;14A, filed with the SEC on April&nbsp;17, 2006; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;our
quarterly reports on Form&nbsp;10-Q for each of the quarters ended March&nbsp;31, 2005, June&nbsp;30, 2005, September&nbsp;30, 2005, and
March&nbsp;31, 2006, filed with the SEC on May&nbsp;9, 2005, August&nbsp;9, 2005, November&nbsp;7, 2005 and respectively; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;our
current reports on Form&nbsp;8-K, filed with the SEC on January&nbsp;4, 2005, January&nbsp;27, 2005, February&nbsp;23, 2005, May&nbsp;11, 2005,
July&nbsp;21, 2005, August&nbsp;9, 2005, November&nbsp;4, 2005, December&nbsp;19, 2005, February&nbsp;22, 2006, March&nbsp;16, 2006, March&nbsp;31, 2006, April&nbsp;7, 2006,
April&nbsp;12, 2006 and May&nbsp;8, 2006; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;our
Registration Statements on Form&nbsp;S-8, SEC File Nos. 333-71481 and 333-85638, filed with the Securities and Exchange
Commission on January&nbsp;29, 1999 and April&nbsp;5, 2002; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the
description of our common stock included in our registration statement on Form&nbsp;8-A, filed with the SEC on September&nbsp;15, 1998, including any
further amendments or reports we file for the purpose of updating that description. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>27</FONT></P>

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<A NAME="page_kq1071_1_28"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
filings, our other annual, quarterly and current reports, our proxy statements and our other SEC filings may be examined, and copies may be obtained, at the SEC's public reference
room, located at 100 F Street, N.E., Washington, D.C. 20549. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You
may obtain information on the operation of the public reference room by calling the SEC at (800)&nbsp;SEC-0330. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
SEC filings are also available to the public on the SEC's Internet site at http://www.sec.gov. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
common stock is quoted on the New York Stock Exchange under the symbol "ETM" and our SEC filings are also available at the New York Stock Exchange's internet site at
http://www.nyse.com/marketinfo/1089312752882.html. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
will also provide, without charge, to each person to whom a copy of this Offer is delivered, upon the written or oral request of any such person, a copy of any or all of the documents
to which we have referred you, other than exhibits to such documents (unless such exhibits are specifically incorporated by reference into such documents). Requests should be directed to: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Entercom
Communications Corp.<BR>
Attention: Investor Relations<BR>
401 City Avenue, Suite 809<BR>
Bala Cynwyd, PA 19004 </FONT></P>

<P><FONT SIZE=2>or
by telephoning us at (610)&nbsp;660-5610 between the hours of 8:00&nbsp;A.M. and 5:00&nbsp;P.M. Eastern Standard Time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
you read the documents listed in this Section&nbsp;16, including documents subsequently filed by us with the SEC under the Securities Exchange Act of 1934, you may find some
inconsistencies in information from one document to another. Should you find inconsistencies among the documents, or between a document and this Offer to Exchange, you should rely on the statements
made in the most recent document. You should assume that any information in any document is accurate only as of its date. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
information contained in this Offer about the Company should be read together with the information contained in the documents to which we have referred you in this Offer to Exchange. </FONT></P>

<P><FONT SIZE=2><B>Section&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;Forward Looking Statements; Miscellaneous  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Offer and our SEC reports referred to above include "forward-looking statements" within the meaning of Section&nbsp;27A of the Securities Act and
Section&nbsp;21E of the Securities Exchange Act. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue" or the negative of such terms or other comparable terminology.
These statements involve known and unknown risks, uncertainties, and other factors that may cause our or our </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>28</FONT></P>

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<P><FONT SIZE=2>industry's
actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by
such forward-looking statements. These factors include, among other things, those listed in our most recently filed report on Form&nbsp;10-K or Form&nbsp;10-Q. We undertake
no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
safe harbor provided in the Private Securities Litigation Reform Act of 1995, by its terms, does not apply to statements made in connection with this tender Offer. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are not aware of any jurisdiction where the making of the Offer is not in compliance with applicable law. If we become aware of any jurisdiction where the making of the Offer is not
in compliance with any valid applicable law, we will make a good faith effort to comply with such law. If, after such good faith effort, we cannot comply with such law, the Offer will not be made to,
nor will elections to exchange be accepted from or on behalf of, the option holders residing in such jurisdiction. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WE
HAVE NOT AUTHORIZED ANY PERSON TO MAKE ANY RECOMMENDATION ON OUR BEHALF AS TO WHETHER YOU SHOULD ELECT TO TENDER OR REFRAIN FROM ELECTING TO TENDER YOUR ELIGIBLE OPTIONS PURSUANT TO
THE OFFER. YOU SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS DOCUMENT OR TO WHICH WE HAVE REFERRED YOU. WE HAVE NOT AUTHORIZED ANYONE TO GIVE YOU ANY INFORMATION OR TO MAKE ANY REPRESENTATION
IN CONNECTION WITH THE OFFER OTHER THAN THE INFORMATION AND REPRESENTATIONS CONTAINED IN THIS DOCUMENT OR IN THE RELATED ELECTION FORM. IF ANYONE MAKES ANY RECOMMENDATION OR REPRESENTATION TO YOU OR
GIVES YOU ANY INFORMATION, YOU MUST NOT RELY UPON THAT RECOMMENDATION, REPRESENTATION OR INFORMATION AS HAVING BEEN AUTHORIZED BY US. </FONT></P>

<P><FONT SIZE=2>Entercom
Communications Corp.<BR>
June&nbsp;5, 2006 </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>29</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_ks1071_1_30"> </A> </FONT> <FONT SIZE=2><B>SCHEDULE A  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> Entercom Communications Corp.<BR>
Entercom Equity Compensation Plan<BR>
[Employee/Director]<BR>
Restricted Stock Grant  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This RESTRICTED STOCK GRANT (the "</FONT><FONT SIZE=2><B>Instrument</B></FONT><FONT SIZE=2>"), dated as
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the "</FONT><FONT SIZE=2><B>Date of
Grant</B></FONT><FONT SIZE=2>"), is delivered by Entercom Communications Corp. (the "</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>")
to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the
"</FONT><FONT SIZE=2><B>Grantee</B></FONT><FONT SIZE=2>"). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>RECITALS  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;The
Entercom Equity Compensation Plan (the "</FONT><FONT SIZE=2><B>Plan</B></FONT><FONT SIZE=2>") provides for the grant of restricted stock to directors, employees and
certain consultants and advisors of the Company, in accordance with the terms and conditions of the Plan. A copy of the Plan's "</FONT><FONT SIZE=2><I>Prospectus</I></FONT><FONT SIZE=2>", as required
under Section&nbsp;10(a) of the Securities Act of 1933, is attached. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;The
committee (the "</FONT><FONT SIZE=2><B>Committee</B></FONT><FONT SIZE=2>") appointed by the board of directors of the Company (the
"</FONT><FONT SIZE=2><B>Board</B></FONT><FONT SIZE=2>") to administer the Plan has determined that it is to the advantage and interest of the Company to make a restricted stock grant as an inducement
for the Grantee to continue as an employee of the Company and to promote the best interests of the Company and its shareholders. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;This
grant is subject to the terms of the Plan, which are hereby incorporated into this Agreement by this reference. The Plan is administered by the Committee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, the parties to this Instrument, intending to be legally bound hereby, agree as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Grant.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions set forth in this Instrument and in the Plan, the
Company hereby grants to the Grantee right to receive&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of Class&nbsp;A common stock of the Company ("</FONT><FONT SIZE=2><B>Restricted Stock</B></FONT><FONT SIZE=2>"). The
shares of Restricted Stock may not be transferred by the Grantee or subjected to any security interest until the shares have become vested pursuant to this Agreement and the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Vesting of Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the conditions described in </FONT> <FONT SIZE=2><I>Paragraph&nbsp;1</I></FONT><FONT SIZE=2> above: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares of Restricted Stock shall vest and the restrictions on such shares shall lapse according to the following schedule, provided and on the condition that the
Grantee has [been continuously employed by] [served as a director of] the Company through the applicable Vesting Date: </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="56%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="48%"><FONT SIZE=2>Dates on Which Shares Vest</FONT><HR NOSHADE></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%"><FONT SIZE=2>Number of Shares Vested</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="48%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, if [(i)] the Grantee's End of Service Date (as defined in </FONT><FONT SIZE=2><I>Paragraph&nbsp;2(c)</I></FONT><FONT SIZE=2>
below) is due to the Grantee's death, [; or (ii)&nbsp;upon the Grantee's End of Service Date the Grantee is willing to serve as a director of the Company but is not reelected;
then] the Restricted Stock shall become fully vested. In all other events and notwithstanding anything herein to the contrary, any shares of Restricted Stock which have not yet vested at
the time of Grantee's End of Service Date shall be </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=36,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=67491,FOLIO='30',FILE='DISK127:[06PHI1.06PHI1071]KS1071A.;9',USER='YLEE',CD='23-JUN-2006;13:04' -->
<A NAME="page_ks1071_1_31"> </A>
<UL>
<UL>

<P><FONT SIZE=2>immediately
forfeited, shall not thereafter become vested and this Grant shall be deemed to have terminated with respect to any such Restricted Stock. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Grant, Grantee's End of Service Date, unless otherwise specified by the Committee, shall be the date of cessation of Grantee's employment with
[service to] the Company [as a director]. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Certificates.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless the Committee determines otherwise, certificates representing the Restricted Stock will
not be issued by the Company until the Restricted Stock vests, including any period of deferral of such vesting. When the Grantee obtains a vested right to shares of Restricted Stock, a certificate
representing the vested shares shall be issued to the Grantee, free of the restrictions under this Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Certain Rights During Restriction Period.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Voting.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During the period before the shares vest, including any period of deferral of such vesting (the
"</FONT><FONT SIZE=2><B>Restriction Period</B></FONT><FONT SIZE=2>") the Grantee shall not be entitled to vote the shares of Restricted Stock. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Cash Dividends.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During the Restriction Period, the Grantee shall not be entitled to receive any cash
dividends with respect to the shares of Restricted Stock; provided that upon vesting of the Restricted Stock, the Company shall pay the Grantee an amount equal to the aggregate of all dividends which
would have been paid on the Restricted Stock during the Restricted Period but for the foregoing provision. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Non-Cash Dividends; Reclassifications, Split Up; Etc.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During the Restriction Period, in the event
of a dividend or distribution payable in stock or other property or a reclassification, split up or similar event, the shares or other property issued or declared with respect to the shares of
non-vested Restricted Stock shall be subject to the same terms and conditions relating to vesting as the shares to which they relate. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Nonassignability of Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During the Restriction Period, the Restricted Stock may not be assigned,
transferred, pledged or otherwise disposed of by the Grantee. Any attempt to assign, transfer, pledge or otherwise dispose of the shares contrary to the provisions hereof, and the levy of any
execution, attachment or similar process upon the shares, shall be null and void and without effect. The rights and protections of the Company hereunder shall extend to any successors or assigns of
the Company and to the Company's parents, subsidiaries, and affiliates. This Agreement may be assigned by the Company without the Grantee's consent. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Change of Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The provisions of the Plan applicable to a Change of Control shall apply to the Restricted
Stock, and, in the event of a Change of Control, the Committee may take such actions as it deems appropriate pursuant to the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grant Subject to Plan Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This grant is made pursuant to the Plan, the terms of which are
incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan.
The grant is subject to the provisions of the Plan and to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the
provisions of the Plan, including, but not limited to, provisions pertaining to (i)&nbsp;rights and obligations with respect to withholding taxes, (ii)&nbsp;the registration, qualification or
listing of the shares, (iii)&nbsp;changes in capitalization of the Company, (iv)&nbsp;compliance with applicable federal communications laws, and (v)&nbsp;other requirements of applicable law.
The Committee shall have the authority to interpret and construe </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>

<!-- ZEQ.=2,SEQ=37,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=96510,FOLIO='31',FILE='DISK127:[06PHI1.06PHI1071]KS1071A.;9',USER='YLEE',CD='23-JUN-2006;13:04' -->
<A NAME="page_ks1071_1_32"> </A>
<UL>
<UL>

<P><FONT SIZE=2>the
grant pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;No Employment or Other Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This grant shall not confer upon the Grantee any right to be retained by or in
the employ or service of the Company and shall not interfere in any way with the right of the Company to terminate the Grantee's employment or service at any time. The right of the Company to
terminate at will the Grantee's employment or service at any time for any reason is specifically reserved. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Applicable Law.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The validity, construction, interpretation and effect of this instrument shall be governed by
and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>[Signature
Page Follows] </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=38,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=665849,FOLIO='32',FILE='DISK127:[06PHI1.06PHI1071]KS1071A.;9',USER='YLEE',CD='23-JUN-2006;13:04' -->
<A NAME="page_ks1071_1_33"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, Entercom Communications Corp. has caused its duly authorized officers to execute and attest this Instrument, and the Grantee has placed his signature hereon,
effective as of the date of grant. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="48%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2><BR>
ENTERCOM COMMUNICATIONS CORP.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="48%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="48%"><BR><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>I
hereby accept the grant of Restricted Stock described in this Instrument. I have read the Entercom Equity Compensation Plan, received the Plan Prospectus and agree to be bound by the terms of the
Plan and this Instrument. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> [Grantee]</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2>33</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=39,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="2",CHK=691325,FOLIO='33',FILE='DISK127:[06PHI1.06PHI1071]KS1071A.;9',USER='YLEE',CD='23-JUN-2006;13:04' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<BR>
<P><br><A NAME="06PHI1071_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ki1071_1">TABLE OF CONTENTS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_kk1071_1">INDEX TO SUMMARY TERM SHEET</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_km1071_1">SUMMARY TERM SHEET</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_km1071_2">QUESTIONS AND ANSWERS ABOUT THE OFFER</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_km1071_3">QUESTIONS AND ANSWERS ABOUT THE RESTRICTED STOCK</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_km1071_4">QUESTIONS AND ANSWERS ABOUT THE PROCEDURES FOR ELECTING TO EXCHANGE</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ko1071_1">THE OFFER</A></FONT><BR>
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(A)(1)(XIV)
<SEQUENCE>3
<FILENAME>a2171453zex-99_a1xiv.htm
<DESCRIPTION>EXHIBIT 99(A)(1)(XIV)
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P ALIGN="RIGHT"><FONT SIZE=2><B>EXHIBIT (a)(1)(xiv)  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ENTERCOM COMMUNICATIONS CORP.  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SUPPLEMENT TO OFFER TO EXCHANGE CERTAIN OUTSTANDING<BR>
OPTIONS FOR SHARES OF RESTRICTED CLASS A COMMON STOCK  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT<BR>
5:00&nbsp;P.M., EASTERN DAYLIGHT TIME<BR>
ON THURSDAY, JULY 6, 2006, UNLESS THE OFFER IS EXTENDED  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entercom Communications Corp. (the "</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>") hereby supplements the Offer to Exchange, dated June&nbsp;5, 2006,
to provide the following summary financial information for your reference: </FONT></P>

<P><FONT SIZE=2><B><I>Statement of Operations Data<BR>  </I></B></FONT><FONT SIZE=2><B>(in thousands, except per share and ratio data)  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>Year Ended</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>Three&nbsp;Months&nbsp;Ended</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>December&nbsp;31,</B></FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>March 31,</B></FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2004</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Net Revenues</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>432,520</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>423,455</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>91,135</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>94,307</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Total Operating Expense</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>279,552</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>278,259</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>69,325</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>61,967</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Operating Income</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>152,968</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>145,196</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>21,810</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>32,340</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Total Other Expense</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>25,383</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>21,673</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>9,229</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>5,811</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Net Income</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>78,361</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>75,634</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>7,755</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>16,237</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2><BR>
Net Income Per Share&#151;Basic</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
1.70</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
1.51</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
0.19</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
0.34</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Net Income Per share&#151;Diluted</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>1.70</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>1.50</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0.19</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>0.34</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2><BR>
Weighted Average Shares&#151;Basic</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
46,045</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
50,215</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
41,344</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
47,638</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2>Weighted Average Shares&#151;Diluted</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>46,221</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2>50,534</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>41,468</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>47,917</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="49%"><FONT SIZE=2><BR>
Ratio of Earnings (Less Fixed Charges) To Fixed Charges</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
5.18</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT"><FONT SIZE=2><BR>
6.58</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2.28</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
4.92</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2><B><I>Balance Sheet Data<BR>  </I></B></FONT><FONT SIZE=2><B>(in thousands, except per share data)  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>As Of<BR>
December&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>As Of<BR>
March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="41%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2004</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>2005</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Current Assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>108,883</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>105,460</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>104,555</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>98,677</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Non Current Assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,588,875</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,562,501</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,587,275</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>1,563,670</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Current Liabilities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>34,957</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>25,783</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>26,189</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>21,993</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Non Current Liabilities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>777,086</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>646,105</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>864,560</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>716,508</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Book Value Per Share</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>19.24</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>19.84</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>19.38</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>19.39</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="41%"><FONT SIZE=2>Shares Used In Computing Book Value Per Share</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>46,045</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>50,215</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>41,344</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>47,638</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

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<P style='page-break-before:always'></p>
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<DOCUMENT>
<TYPE>EX-99.(A)(1)(XV)
<SEQUENCE>4
<FILENAME>a2171453zex-99_a1xv.htm
<DESCRIPTION>EXHIBIT 99(A)(1)(XV)
<TEXT>
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<P ALIGN="RIGHT"><FONT SIZE=2><B>EXHIBIT (a)(1)(xv)  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Email To Certain<BR>
Entercom Communications Corp. Option Holders,<BR>
transmitted on June&nbsp;23, 2006  </B></FONT></P>


<P><FONT SIZE=2>Dear
Entercom Employee: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entercom
Communications Corp. (the "</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>") has received comments from the U.S. Securities and Exchange Commission
("</FONT><FONT SIZE=2><B>SEC</B></FONT><FONT SIZE=2>") with respect to the Company's Offer to Exchange Certain Outstanding Options For Shares of Restricted Class&nbsp;A Common Stock (the
"</FONT><FONT SIZE=2><B>Offer to Exchange</B></FONT><FONT SIZE=2>") that was delivered to you on or about June&nbsp;5, 2006. As a result of these comments, the Company has revised the disclosures
contained in the Offer to Exchange. A revised Offer to Exchange is attached to this email and is intended to supersede the version previously delivered to you. The following is a summary of the
revisions made to the Offer to Exchange: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disclosure on the first page and in Section&nbsp;1 of the Offer to Exchange has been revised to clarify that the Company will
issue the Restricted Stock to Eligible Participants who elect to participate in the Offer to Exchange promptly following the expiration of the Offer to Exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disclosure on page 17 of the Offer to Exchange has been revised to disclose that you may withdraw your options elected for
exchange after the expiration of the Offer to Exchange if the Company has not provided notice that it has accepted your options elected for exchange by August&nbsp;2, 2006. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disclosure on page 18 has been revised to indicate that if the Company accepts your Eligible Options the Company will provide
you with a letter informing you of the Company's acceptance of your election to participate in the Offer to Exchange and of your right to receive shares of Restricted Stock in accordance with the
terms of the Offer to Exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disclosure on pages 18 and 19 has been revised to clarify that the Company may only terminate the Offer to Exchange upon the
failure of a condition and to clarify the conditions in which the Company will not be required to accept Eligible Options elected for exchange or in which it may terminate or amend the Offer to
Exchange, or postpone its acceptance and cancellation of any Eligible Options elected for exchange and to clarify the extent to which information will be provided to you in such an event. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disclosure in the first paragraph of Section&nbsp;13 on page 25 has been revised to refer to "material" rather than "certain"
tax consequences of the Offer to Exchange. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
we have prepared a Supplement to the Offer to Exchange (the "</FONT><FONT SIZE=2><B>Supplement</B></FONT><FONT SIZE=2>") which contains certain summary financial
information about the Company. The Supplement is also attached to this email. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally,
the SEC noted that the Election to Exchange Form contains an acknowledgement that you have "read" the Offer to Exchange. By this email, the Company hereby confirms to you that
it will not assert that your acknowledgement that you have read the Offer to Exchange constitutes a waiver of any liability of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you have previously submitted a completed Election to Exchange Form and you still desire to participate, no further action is required. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you have previously submitted a completed Election to Exchange Form and you now desire to withdraw your election, you must complete notice of withdrawal and return it to John C.
Donlevie, Executive Vice President, Secretary and General Counsel, at Entercom Communications Corp. before 5:00&nbsp;P.M. Eastern Daylight Time, on Thursday July&nbsp;6, 2006, unless the Offer to
Exchange is extended. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you desire to participate but have not yet completed and submitted an Election to Exchange Form, the Company reminds you that your Election to Exchange Form must be received by the </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2171453",CP="ENTERCOM COMMUNICATIONS CORP.",DN="4",CHK=69019,FOLIO='blank',FILE='DISK127:[06PHI1.06PHI1071]KW1071A.;6',USER='MTITUSS',CD='23-JUN-2006;14:31' -->
<BR>

<P><FONT SIZE=2>Company
no later than 5:00&nbsp;P.M., Eastern Daylight Time, on Thursday July&nbsp;6, 2006, unless the Offer to Exchange is extended. </FONT></P>


<P><FONT SIZE=2>Very
Truly Yours, </FONT></P>

<P><FONT SIZE=2>[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>****
</FONT></P>

<P><FONT SIZE=2>We
are filing the revised Offer to Exchange and the Supplement with the SEC today. You will be able to obtain them free of charge from the Investors section of Entercom's website at
www.entercom.com/pages/investors.html and from the SEC's website at www.sec.gov. </FONT><FONT SIZE=2><B>You should carefully read the attached Offer to Exchange, the Supplement as well as the related
materials that we previously provided to because they contain important information.</B></FONT><FONT SIZE=2> This email does not itself constitute an offer to exchange, buy or sell stock options or
Entercom's common stock and is being sent to you for informational purposes only. </FONT></P>

<HR NOSHADE>
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