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CBS will compete with its advertisers

16 August 1999

CBS Corporation Acquires 22% of Wrenchead.com, Inc., for $33 Million in Advertising and Promotion

              CBS Expands Internet Portfolio with Wrenchead.com,
             the Most Comprehensive Online Auto Parts Superstore

                   Web Site Joins with CBS Cable to Explore
                      Development of Programming on TNN

    NEW YORK, Aug. 16 -- CBS Corporation and
Wrenchead.com, Inc., a privately held company, today announced that CBS has
acquired a 22% equity stake in Wrenchead.com, Inc.  In exchange,
Wrenchead.com, the company's Web site, will receive $33 million of
advertising, promotion and other consideration, over a term of four years,
across CBS's media properties, including television, radio and outdoor.
Infinity Broadcasting Corporation , the Company's majority-owned
out-of-home media subsidiary, will receive a pro rata share of the investment.
    In addition, CBS Cable will work with Wrenchead.com to explore the
development of programming targeting the automotive enthusiast for its country
lifestyle cable channel, TNN.
    Wrenchead.com, a Web site dedicated to automotive enthusiasts of all
types, currently offers its members an easy and expedient way to search and
order parts for any make or model vehicle.  The site also provides links to
other automotive-related enterprises and will soon offer car and truck
accessories, how-to information, news and forums.
    "We are very excited about the role this site will play in our growing
family of new media interests," said Mel Karmazin, President and Chief
Executive Officer, CBS Corporation.  "In broadcast and in cable, CBS is the
most active media company in motor sports.  This new association with
Wrenchead.com enables us to deliver these viewers into a Web community that
serves their needs and provides a strong forum for e-commerce."
    "Wrenchead's mission is to provide our customers with the right product,
at the right price, right on time," said Gus Conrades, Chief Executive
Officer, Wrenchead.com, Inc.  "We also want to offer a site where people of
common interests can exchange information and share their enthusiasm.  That
same audience tunes in every day to CBS -- both at home and in their cars.  We
are very happy to become a part of the media mix that serves that large and
growing audience, particularly about the potential programming synergy we're
now exploring with TNN."
    "TNN attracts a large audience of loyal motor sports fans and automotive
enthusiasts who desire detailed do-it-yourself instruction from TNN
programming and the easy access to automotive accessories that Wrenchead.com
offers," said David Hall, President, TNN.  "Our research shows that more than
23 million viewers of TNN Motorsports programming maintain and repair their
own automobiles.  The combined expertise of TNN and Wrenchead.com would drive
traffic to the Web site as well as create a cross-media community based on
enthusiasm and desire for information about car maintenance and repair."
    Mr. Hall added that TNN programming plans may be announced as early as the
AAIA (Automotive Aftermarket Industry Association) show, a major automotive
parts convention held during Automotive Aftermarket Industry Week, scheduled
for Nov. 2-5 in Las Vegas.
    CBS currently has Internet investments in SportsLine USA, Inc.
, MarketWatch.com, Inc. , StoreRunner Inc.,
Office.com Inc., ThirdAge Media, Inc., Medscape, Inc., and Switchboard
Incorporated.  In addition, CBS Corporation recently announced that it had
signed a definitive agreement to exchange promotion and advertising for equity
in Rx.com, Inc., as well as a letter of intent for a similar arrangement with
hollywood.com.
    Wrenchead.com sells brand name auto and truck parts, accessories,
performance products and consumer merchandise on the web.  Wrenchead.com
exists to enrich the experience of people who love cars and trucks by offering
help with installation, maintenance, repair and a community of interest for
the motorsports enthusiast, hobbyist, collector and the do-it-yourselfer.
    CBS Corporation, the world's largest pure-play media company, is composed
of CBS Television, Cable and a majority stake of Infinity Broadcasting
Corporation, its radio and outdoor businesses.  CBS Television is comprised of
the CBS Television Network and 14 CBS owned television stations, seven of
which are in the Top 10 markets.  CBS Cable consists of two country networks
and regional sports operations.  Infinity Broadcasting Corporation operates
163 radio stations and TDI, the Company's outdoor business.  Infinity recently
entered into an agreement to acquire Outdoor Systems, Inc.
    Note:  Certain statements in this press release constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995.  Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of CBS to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements.  Reference is made to the Company's Annual Report
on Form 10-K for the 1998 year and subsequent reports filed with the
Securities and Exchange Commission for additional information concerning such
risks and uncertainties.