///Corporate

HASAN FERIT GIRESUNLU APPOINTED GENERAL MANAGER OF UNIVERSAL MUSIC TURKEY

ISTANBUL, 14 July, 2003 - Hasan Ferit Giresunlu has been appointed General Manager of Universal Music Turkey, with immediate effect. The appointment was announced today by John Kennedy, President and Chief Operating Officer, Universal Music International, to whom Mr. Giresunlu will report.

Hasan Ferit Giresunlu joined Universal Music Turkey in 1999, and has been its Sales and Marketing Director since January 2002. Previously, he held Marketing Manager posts in the company’s international music and strategic marketing divisions.

Earlier in his career, Mr. Giresunlu was Marketing and Special Projects Manager at Balet Records, the Turkish licensee for Warner Music, and MMY, licensee at the time for Warner Music and BMG.

John Kennedy said, "Since Hasan Ferit first joined Universal Music, he has proven to be a highly capable and versatile executive. We’re confident that, with this well-deserved promotion, his skills and experience will enormously benefit our business in Turkey."

Mr. Giresunlu said, "We are turning over a new leaf at Universal Music Turkey and we’re determined to mirror the levels of success achieved by Universal Music International companies worldwide. At the same time, we want to help develop and grow the music industry in Turkey. I truly believe that we must create a company philosophy and an organisation that suits the name of Universal Music as well as its magnitude."

Mr. Giresunlu, who was born in Istanbul, is a graduate of the Lycée Saint Michel and the Faculty of Business Administration of the Istanbul University. In 1997, he received his master’s degree in International Management at the Institute of Business Administration in the same university.

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