U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB

             [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended               February 29, 2000
                               ------------------------------------------------

             [ ] TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE
                                  EXCHANGE ACT

 For the transition period from                    to
                               --------------------  --------------------

                        Commission File Number 000-21623

                             OBIE MEDIA CORPORATION
--------------------------------------------------------------------------------
       (Exact name of small business issuer as specified in its charter)

         OREGON                                                93-0966515
--------------------------------------------------------------------------------
(State or other jurisdiction of                            (IRS Employer
incorporation or organization)                               Identification No.)


4211 West 11th Ave., Eugene, Oregon                  97402
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

               541-686-8400                       FAX 541-345-4339
--------------------------------------------------------------------------------
                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  during  the past 12 months  (or such  shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days.
Yes [X]. No [ ].

     As of April 10, 2000,  5,884,253  shares of the issuer's  common stock were
outstanding.

     This  report  contains 10 pages.  The only  exhibit is the  Financial  Data
Schedule.



<PAGE>
<TABLE>
<CAPTION>
                             OBIE MEDIA CORPORATION
                           Consolidated Balance Sheets

                                     ASSETS

                                                             February 29,      November 30,
                                                                 2000              1999
                                                           ----------------  ----------------
<S>                                                        <C>               <C>
CURRENT ASSETS:
    Cash                                                        $   12,738          $ 34,224
    Accounts receivable, net                                     7,654,449         8,715,044
    Prepaids and other current assets                            2,465,712         2,375,237
    Deferred income taxes                                          959,427           959,427
                                                           ----------------  ----------------
        Total current assets
                                                                11,092,326        12,083,932

Property and equipment, net
                                                                15,458,983        12,837,224
Goodwill, net
                                                                 7,053,297         7,183,581
Other assets
                                                                   619,822           599,464
                                                           ----------------  ----------------

                                                               $34,224,428       $32,704,201
                                                           ================  ================


                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
    Current portion of long-term debt                           $1,748,076        $1,743,718
    Line of credit                                               2,040,450         2,505,534
    Accounts payable                                             1,510,335           999,894
    Accrued expenses                                               446,733         2,085,357
    Income taxes payable                                           354,843           443,916
    Deferred revenue                                             1,420,696         1,610,855
                                                           ----------------  ----------------
        Total current liabilities                                7,521,133         9,389,274

Deferred income taxes                                              995,407           995,407
Long-term debt, less current portion                             8,202,983         4,919,353
                                                           ----------------  ----------------
       Total liabilities                                        16,719,523        15,304,034
                                                           ----------------  ----------------

Minority Interest in subsidiary                                     35,424            35,424

Shareholders' equity:
    Preferred stock, without par value, 10,000,000 shares
        authorized, no shares issued or outstanding
    Common stock, without par value; 20,000,000 shares
        authorized, 5,884,253 and 5,855,244 shares
        issued and outstanding, respectively                    16,857,421        16,657,650
    Options issued for common stock                                211,763           211,763
    Foreign currency translation                                   (3,491)             (993)
    Retained earnings                                              403,788           496,323
                                                           ----------------  ----------------
        Total shareholders' equity                              17,469,481        17,364,743
                                                           ----------------  ----------------
                                                               $34,224,428       $32,704,201
                                                           ================  ================
</TABLE>

See accompanying notes

                                       1
<PAGE>



                             OBIE MEDIA CORPORATION
                      Consolidated Statements of Operations




                                                Three Months Ended
                                          February 29,       February 28,
                                       -----------------------------------
                                             2000                1999
                                       ----------------   ----------------
Revenues:
Transit advertising                         $7,831,173          $6,024,908
Outdoor advertising                          1,482,096           1,361,729
                                       ----------------   -----------------
Gross revenues                               9,313,269           7,386,637
Less - agency commissions                    (767,446)           (626,409)
                                       ----------------   -----------------
Net revenues                                 8,545,823           6,760,228
                                       ----------------   -----------------

Operating Expenses:
Direct advertising expenses                  6,454,209           5,020,229
General and administrative                   1,575,766           1,160,602
Contract settlement                                  0           (885,941)
Start up costs                                  31,132             105,679
Depreciation and amortization                  421,020             355,723
                                       ----------------   -----------------
Operating income                                63,696           1,003,936

Other (Income) Expense:
Interest expense                             (215,392)           (277,473)
                                       ----------------   -----------------
Income before income taxes                   (151,696)             726,463

Provision for income taxes                    (59,161)             290,583
                                       ----------------   -----------------
Net income (loss)                            $(92,535)            $435,880
                                       ================   =================

Earnings per share:
    Basic                                      $(0.02)               $0.09
    Diluted                                    $(0.02)               $0.09






See accompanying notes

                                       2
<PAGE>
<TABLE>
<CAPTION>
                             OBIE MEDIA CORPORATION
                      Consolidated Statements of Cash Flows



                                                                      Three Months Ended
                                                                February 29,        February 28,
                                                              ----------------------------------
                                                                    2000              1999
                                                              ----------------  ----------------
<S>                                                           <C>               <C>
Cash Flows From Operating Activities:
  Net income (loss)                                                 $(92,535)         $435,880
  Adjustments to reconcile net income (loss) to net cash
     provided by (used in) operating activities:
       Depreciation and amortization                                 421,020           355,723
       Contract settlement                                                 0          (335,941)
       Changes in operating assets and liabilities                  (337,295)          504,536
                                                              ----------------  ----------------
         Net cash provided by (used in) operating activities          (8,810)          960,198
                                                              ----------------  ----------------

Cash Flows From Investing Activities:
  Capital expenditures                                            (2,912,495)         (385,560)
  Other                                                              (20,358)          (12,043)
                                                              ----------------  ----------------
         Net cash used in investing activities                    (2,932,853)         (397,603)
                                                              ----------------  ----------------

Cash Flows From Financing Activities:
  Net payments on line of credit                                    (465,084)         (587,798)
  Borrowings of long-term debt                                     4,000,000                 0
  Payments on long-term debt                                        (712,012)         (292,569)
  Other                                                               99,771             2,539
                                                              ----------------  ----------------
         Net cash provided by (used in) financing activities       2,922,675          (877,828)
                                                              ----------------  ----------------

Effect of exchange rate changes on cash                               (2,498)              273

                                                              ----------------  ----------------
Net increase (decrease) in cash                                      (21,486)         (314,960)
Cash, beginning of period                                             34,224           326,140
                                                              ----------------  ----------------
Cash, end of period                                                  $12,738           $11,180
                                                              ================  ================

Supplemental Disclosure:
  Issuance of stock to employee benefit plan                        $100,000           $85,928
  Interest capitalized                                                 3,808             4,769

Cash Paid for Interest                                               195,983           305,440

Cash Paid for Taxes                                                   29,912           257,782
</TABLE>

See accompanying notes

                                       3
<PAGE>

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS



1.  Basis of Presentation

         The  interim  financial  statements  have been  prepared  by Obie Media
Corporation  ("Obie Media," the "Company," "We," "Us," or "Our" ) without audit.
In the opinion of management,  the accompanying  unaudited financial  statements
contain all  adjustments  necessary to present fairly the financial  position of
the Company as of February 29, 2000 and  November  30, 1999,  and the results of
operations and cash flows of the Company for the three months ended February 29,
2000 and February 28, 1999.  The  condensed  consolidated  financial  statements
include the  accounts of the Company  and its  subsidiary,  and all  significant
intercompany accounts and transactions have been eliminated in consolidation.

     Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting  principles
have been  condensed  or omitted as permitted  by rules and  regulations  of the
Securities  and  Exchange  Commission.  The  organization  and  business  of the
Company,  accounting  policies followed by the Company and other information are
contained in the notes to the Company's  financial  statements  files as part of
the Company's  November 30, 1999 Form 10-KSB.  This  quarterly  report should be
read in conjunction with such annual report.


2.   Acquisition of Outdoor Advertising Displays

         In  January  2000,  the  Company  acquired  approximately  200  outdoor
advertising  displays,  located  primarily  in Montana and  Wyoming,  from JOSCO
Outdoor.  The Company financed the purchase price of approximately  $2.5 million
with borrowings under the Bridge Loan described below (see Note 4).


3.       Contract Settlement

         The Company had a contract to provide advertising sales services to the
Tri-County Metropolitan Transit District ("Tri-Met") in Portland, Oregon, which,
by its terms, was scheduled to expire in June 2001. The Company originally began
serving Tri-Met in January 1994,  pursuant to a five-year  agreement,  which was
later extended for an additional two years.  The Federal Transit  Administration
("FTA"),  which provides substantial monies to transit districts,  has taken the
position that transit advertising contracts may not exceed five years in length.
At the request of the FTA,  Tri-Met and the  Company  agreed that the  Company's
agreement  with Tri-Met was to terminate on June 30, 1999 and, in December 1998,
entered  into a  settlement  agreement  to  compensate  the  Company  for  early
termination of the existing  contract.  During the first quarter of fisca1 1999,
the Company  recorded a pre-tax gain of $885,941 which has been reflected in the
accompanying  consolidated  statements  of  operations as an offset to operating
expenses.

         In anticipation of the  termination of the Company's  transit  district
agreement, Tri-Met solicited proposals for the operation of the Portland transit
district.  Tri-Met  awarded the Company a new  multi-year  contract in September
1999.


                                       4
<PAGE>
4.       Debt Agreements

         In January 2000, the Company  borrowed  $4,000,000  under a Bridge Loan
(the Loan) from U.S.  Bank (the  Bank).  The  proceeds  were used to finance the
billboard acquisition described above (see Note 2) and to repay borrowings under
the Company's line of credit. The Loan, which is collateralized by substantially
all of the Company's  assets,  matures July 3, 2000 and bears interest based, at
the Company's  option,  on the London  Inter-Bank  Offering Rate (LIBOR) plus 2%
(8.00125% at February  29,  2000) or at the Bank's  prime rate plus 0.5% (9.0 at
February 29,  2000).  The bank has agreed to refinance  the Loan with  long-term
financing and,  accordingly  the balance has been reflected in the  accompanying
consolidated balance sheet as long-term debt.

         The Company's Term Loan Agreement contains certain covenants  including
maintenance  of a current  ratio  and cash flow  coverage.  The  Company  was in
compliance with these covenants as of February 29, 2000.


5.       Earnings Per Share

         Basic earnings per share (EPS) is calculated using the weighted average
number of common shares outstanding for the period and diluted EPS is calculated
using  the  weighted  average  number  of  common  shares  and  dilutive  common
equivalent  shares  outstanding.  All share and per-share  information  has been
adjusted to give  retroactive  effect to an 11-for-10 stock split which occurred
in November  1999.  The following is a  reconciliation  of the basic and diluted
shares used in the per share calculation:

                                        Three Months Ended   Three Months Ended
                                           February 29,         February 28,
                                              2000                 1999
                                           ---------           ----------

Basic shares (weighted average)            5,871,699            4,750,791
Dilutive effect of stock options                -                 120,913
                                           ---------           ----------
Diluted shares                             5,871,699            4,871,704
                                           =========           ==========

         At February  29,  2000,  the Company had options  outstanding  covering
458,497 shares of the  Company's  common stock  that were not  considered in the
dilutive EPS calculation since they would have been antidilutive.

6.       Comprehesive Income

         In June 1997, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 130 "Reporting Comprehensive Income" (SFAS
130).  This  statement   establishes  standards  for  reporting  and  displaying
comprehensive  income  and  its  components  in a full  set  of  general-purpose
financial  statements.  The  objective of SFAS 130 is to report a measure of all
changes in equity of an  enterprise  that  result  from  transactions  and other
economic events of the period other than transactions with owners. Comprehensive
income did not  materially  differ from reported net income for the three months
ended February 29, 2000 and February 28, 1999.

7.       Recent  Accounting Pronouncements

      In June 1998, the Financial  Accounting  Standards Board issued  Financial
Accounting Standards No. 133 "Accounting for Derivative  Instruments and Hedging
Activities" (SFAS 133), which establishes accounting and reporting standards for
all  derivative  instruments.  SFAS 133 was to be  effective  for  fiscal  years
beginning after June 15, 1999. In June 1999, the Financial  Accounting Standards
Board issued Statement of Financial Accounting Standards No. 137 as an amendment
to SFAS  133 and  deferred  the  effective  date of  SFAS  133 to  fiscal  years
beginning  after  June  15,  2000.  The  Company  currently  has  no  derivative
instruments and, therefore,  the adoption of SFAS 133 is not expected to have an
impact on the Company's financial position or results of operations.

8.       Reclassifications

         Certain  amounts  previously   reported  in  the  Company's   financial
statements  as of  November  30, 1999 have been  reclassified  to conform to the
current fiscal year presentation.
                                       5
<PAGE>

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINACIAL CONDITION AND RESULTS OF
OPERATIONS

         The following  discussion includes certain  forward-looking  statements
that involve a number of risks and  uncertainties.  The Company's actual results
could differ materially from the forward-looking statements.  Factors that could
cause or contribute  to such  differences  include:  a decline in the demand for
advertising   in  the  areas  where  the  Company   conducts  its  business;   a
deterioration  of  business  conditions  generally  in such  areas;  slower than
expected  acceptance of the Company's  innovative display products;  competitive
factors,  including  increased  competition  and  price  pressures;  changes  in
regulatory  or  other  external  factors;   failure  to  successfully   conclude
negotiations  on pending  transactions or to  successfully  assimilate  expanded
operations,  inability  to generate  advertising  revenues  to meet  contractual
guarantees,  and  cancellation or  interruption  of contracts with  governmental
agencies, as well as those factors listed from time to time in the Company's SEC
reports,  including,  but not limited to, the factors  discussed in Exhibit 99.1
incorporated  by reference  in the  Company's  Annual  Report for the year ended
November 30, 1999.

Recent Developments

         In  January  2000,  the  Company  acquired  approximately  200  outdoor
advertising  displays,  located  primarily  in Montana and  Wyoming,  from JOSCO
Outdoor for approximately $2.5 million.

         In February  2000,  the Board of  Directors  of the  Greater  Vancouver
Transit Authority (GVTA),  also known as TransLink,  voted to renew its contract
with the Company for a five-year  period.  The  contract,  which was  originally
awarded in 1998,  was  guaranteed  for two years with an option to renew for the
next five years.

         In March 2000,  the Company was awarded the right to sell  interior and
exterior  transit  advertising  space on the  transit  fleet of  Hillsboro  Area
Regional Transit  Authority (HART), in Tampa,  Florida.  The contract  (covering
approximately  75 vehicles) is for a three-year  period,  and provides  HART the
option to renew the contract for an additional two years.


Comparison of the Three Months Ended February 29, 2000 and February 28, 1999

         Gross revenues  increased $1.9 million,  or 26.1%,  to $9.3 million for
the three months ended February 29, 2000 from $7.4 for the comparable  period in
fiscal 1999.  This increase was  principally due to volume and rate increases in
our existing markets, as well as revenues associated with new transit operations
in St.  Louis,  Kansas  City and Ft.  Worth,  off-set  by our loss of markets in
Virginia (primarily Norfolk). Transit revenues increased $1.8 million, or 30.0%,
to $7.8 million for the three  months ended  February 29, 2000 from $6.0 million
for the first quarter of fiscal 1999. Outdoor advertising  revenues increased to
$1.5  million  for the first  quarter of fiscal  2000 from $1.4  million for the
comparable period in fiscal 1999,  primarily as a result of revenues  associated
with our  acquisition  of outdoor  advertising  displays in the forth quarter of
fiscal 1999 and the first quarter of fiscal 2000. Agency  commissions  increased
$141,000,  or 22.5%,  to $767,000 for the three  months ended  February 29, 2000
from $626,000 for first  quarter of fiscal 1999,  primarily due to the increased
sales volume in our existing markets. As a result of the foregoing reasons,  net
revenues increased $1.8 million,  or 26.4%, to $8.5 million for the three months
ended  February 29, 2000 from $6.8 million for the  comparable  period in fiscal
1999.

         Direct advertising  expenses increased $1.4 million,  or 28.6%, to $6.5
million  for the  three  months  ended  February  29,  2000  from  $5.0  for the
comparable period in fiscal 1999. Direct advertising  expenses  increased,  as a
percentage of gross revenues, to 69.3% for the first quarter of fiscal 2000 from
68.0% for the same period in fiscal 1999.  These  increases are primarily due to
the faster growth of the transit advertising business,  where costs,  especially
occupancy costs, are higher than in the outdoor advertising business.

                                       6
<PAGE>
         General and administrative  expenses increased  $415,000,  or 35.8%, to
$1.6 million for the three months ended  February 29, 2000 from $1.2 million for
the  comparable  period in fiscal 1999.  The increase  resulted  primarily  from
increases in personnel and related costs  associated with managing the growth of
our transit  business,  including  new  districts.  General  and  administrative
expenses,  as a percentage of gross  revenues,  increased to 16.9% for the three
months ended February 29, 2000 from 15.7% for the same period in fiscal 1999. We
expect general and  administrative  expenses to decease as a percentage of gross
revenues during the remaining  quarters of fiscal 2000, as compared to the first
quarter of fiscal 2000, as a result of anticipated seasonal revenue increases.

         During the first  quarter of fiscal 1999,  we recognized a pre-tax gain
of $886,000  associated with our contract settlement with Tri-Met (See Note 3 to
our Condensed Consolidated Financial Statements).

         Start-up costs decreased to $31,000 for the three months ended February
29, 2000 from $106,000 for the comparable period in fiscal 1999.  Start-up costs
include  expenses  incurred in new markets prior to the time the Company  begins
its  sales  operations,  as well as costs  incurred  in  obtaining  new  transit
district contracts. These costs vary depending on the number and size of transit
districts that become  available for proposal  during the period and our success
in obtaining new contracts.

         Depreciation and amortization  expenses increased $65,000, or 18.4%, to
$421,000  for the three months  ended  February  29, 2000 from  $356,000 for the
comparable  period in fiscal 1999,  primarily  due to capital  expenditures  for
outdoor  advertising  displays as well as our  investment  in  equipment  in new
markets and our upgrading of computer capabilities in our existing markets.

         Due to the above  factors,  operating  income  decreased  $940,000,  or
93.7%, to $64,000 for the three months ended February 29, 2000 from $1.0 million
for the  first  quarter  of  fiscal  1999,  primarily  due to the  effect of our
contract  settlement with Tri-Met.  Excluding the effect of the Tri-Met contract
settlement,  operating income would have decreased $54,000, or 46.0%, to $64,000
for the three months ended February 29, 2000 from $118,000 for the first quarter
of fiscal 1999.

         Interest expense decreased $62,000, or 22.4%, to $215,000 for the first
quarter of fiscal 2000 from $277,000 for the  comparable  period in fiscal 1999,
primarily  due to  repayment  of  indebtedness  from the  proceeds  of our stock
offering in the third quarter of fiscal 1999.

         Provision for income taxes decreased $350,000,  or 120.4%, to a benefit
of $59,000 for the three  months ended  February  29,  2000,  from an expense of
$291,000 for the comparable  period in fiscal 1999. The Company's  effective tax
rates were 39.0% and 40.0% during the three  months ended  February 29, 2000 and
February 28, 1999,  respectively.  The difference  between the statutory  United
States  federal  income tax rate and the  effective  tax rates was primarily the
result of foreign, state and local taxes.

         As a result of the foregoing factors, net income decreased $528,000, or
121.2%,  to a net loss of $93,000 for the three months  ended  February 29, 2000
from net income of $436,000  for the same period in fiscal 1999.  Excluding  the
tax-effected benefit of the Tri-Met contract settlement, the company's operating
results would have improved $3,000,  or 3.3%, to a net loss of $93,000 for first
quarter of fiscal 2000 from a net loss of $96,000 for the  comparable  period in
fiscal 1999.

Liquidity and Capital Resources

         We have  historically  satisfied our working capital  requirements with
cash from  operations and revolving  credit  borrowings.  Our working capital at
February  29,  2000 and  November  30, 1999 was $3.6  million and $2.7  million,
respectively.  The  decrease  in  working  capital  is  primarily  the result of
payments of long-term debt. Acquisitions and capital expenditures, primarily for
the  construction  of new  outdoor  advertising  displays,  have  been  financed
primarily with borrowed  funds. At February 29, 2000, Obie Media had outstanding
borrowings  of $12.0  million,  of which $9.0  million was pursuant to long-term
credit  agreements,  $1.0 million was pursuant to the agreement to acquire P & C
Media in September  1998, and $2.0 million was pursuant to our operating line of
credit.  Our indebtedness is  collateralized by substantially all of our assets.
See Note 4 to our condensed consolidated  financial statements.  At February 29,
2000,   available  borrowing  capacity  under  the  line  of  credit,  based  on
collateralized accounts, was $2.0 million.
                                       7
<PAGE>

         Obie Media's net cash used in operating  activities  was $8,800  during
the three  months ended  February  29, 2000 as compared to net cash  provided by
operations of $960,000 during the first quarter of fiscal 1999. The decrease was
primarily  due to cash  received  in  connection  with  the  Company's  contract
settlement  with Tri-Met in first quarter of fiscal 1999 and larger  payments to
transit districts during the first quarter of fiscal 2000.

         Net cash used in  investing  activities  was $2.9  million and $398,000
during  the  three  months  ended  February  29,  2000 and  February  28,  1999,
respectively.  The increase in these  expenditures  during the first  quarter of
fiscal 2000 was principally related to the costs associated with the acquisition
and construction of outdoor advertising displays as well as expenditures related
to opening new  offices.  We have no  material  future  commitments  for capital
expenditures  but anticipate that our capital  expenditures,  exclusive of those
related to any future  acquisitions,  will  approximate  $2.0 million during the
remainder of fiscal 2000.

         Net cash provided by financing  activities  was $2.9 million during the
three  months  ended  February  29, 2000  compared to net cash used in financing
activities  of $878,000  during the three  months ended  February 28, 1999.  The
increase  in the first  quarter  of fiscal  2000 from the  comparable  period in
fiscal  1999 was  primarily  the  result of  borrowings  on the  Company's  debt
agreements.

         We expect to pursue a policy of continued growth through  obtaining new
transit district  agreements,  acquiring  out-of-home  advertising  companies or
assets and constructing new outdoor advertising  displays.  We intend to finance
our future  expansion  activities  using a combination  of internal and external
sources.  We believe that  internally  generated  funds and funds  available for
borrowing  under our bank credit  facilities  will be  sufficient to satisfy all
debt  service  obligations  and to finance our  existing  operations,  including
anticipated capital expenditures,  but excluding possible acquisitions,  through
fiscal 2000. Future  acquisitions by Obie Media, if any, may require  additional
debt or equity financing.

Seasonality

         Obie  Media's  revenues  and  operating   results   historically   have
fluctuated by season.  Typically, our results of operations are strongest in the
fourth  quarter  and  weakest in the first  quarter of our  fiscal  year  ending
November  30. Our transit  advertising  operations  are more  seasonal  than our
outdoor advertising  operations as our outdoor advertising display space, unlike
our transit  advertising  display space, is and has been sold nearly exclusively
by means of 12-month contracts.  We believe that the seasonality of our revenues
and  operating  results  will  increase  as our transit  advertising  operations
continue to expand more rapidly than our outdoor  advertising  operations.  This
seasonality,  together  with  fluctuations  in  general  and  regional  economic
conditions and the timing and expenses related to acquisitions, the obtaining of
new transit  agreements  and other actions we have taken to implement our growth
strategy,  have contributed to fluctuations in our periodic  operating  results.
These fluctuations likely will continue.  Accordingly, our results of operations
in any period may not be indicative of the results to be expected for any future
period.

Year 2000 Compliance

         The Year 2000 problem is the result of the inability of some  computers
and computer  software programs to accurately  recognize,  for dates after 1999,
dates  which are  often  expressed  as a  two-digit  number.  The  inability  to
accurately recognize date information could adversely affect computer operations
and  calculations or cause computer  systems and  computer-dependent  mechanical
systems not to operate at all.

         To date, we have not, nor to our knowledge, has any third party transit
district, vendor or service provider significant to our operations,  experienced
any material Year 2000 related problems. However, we cannot determine if we will
be subject to Year 2000 compliance problems in the future.

         We will  continuously  monitor  our  systems to  resolve  any Year 2000
problems  that may arise in the future.  We believe  that our efforts to achieve
Year 2000  compliance  and the impact of the Year 2000  problem  will not have a
material effect on our operations.

                                       8
<PAGE>

Market Risk

We have not entered into derivative financial instruments.  We may be exposed to
future  interest rate changes on our debt. We do not believe that a hypothetical
10% change in interest rates would have a material effect on our cash flows.


PART II - OTHER INFORMATION


Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits
    (27) Financial Data Schedule

(b) No reports on Form 8-K were filed by the Company  during the  quarter  ended
February 29, 2000.



Signature

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                                             Obie Media Corporation



 Date April 14, 2000                         By: /s/ Michael E. Hubbard *
                                                Michael E. Hubbard
                                                Vice President
                                                Corporate Controller

                   * Signing on behalf of the registrant as principal financial
                      and accounting officer


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