///Corporate

UNIVERSAL MUSIC ASIA PACIFIC AND SHANGHAI MEDIA GROUP JOIN FORCES TO LAUNCH SUM ENTERTAINMENT

UNIVERSAL MUSIC ASIA PACIFIC AND SHANGHAI MEDIA GROUP JOIN FORCES TO LAUNCH SUM ENTERTAINMENT – THE NEXTGEN MUSIC ENTERTAINMENT COMPANY



HONG KONG, February 27, 2004 – Universal Music Asia Pacific and the Shanghai Media Group (SMG) have entered into a joint venture agreement to launch a new visionary music-based entertainment company, Harry Hui, President of Universal Music Southeast Asia, announced today.

The establishment of SUM Entertainment Ltd represents the pooling of significant resources by two of the biggest media companies in Greater China. This marks the first joint venture of its kind between an international music company and a major Chinese Mainland media group. Universal Music is the biggest music company in the world and SMG is the second largest media conglomerate in China.

The new joint venture will be involved primarily in artist and repertoire development, and the planning and co-production of music-related entertainment events. With the expansion of its business, SUM Entertainment will also focus on sponsorship marketing, new media, mobile business, television advertised products and music and DVD releases.

Carol Choi, formerly Regional Marketing Director for Universal Music Asia Pacific, will assume duties as General Manager of SUM Entertainment Ltd, and will be based in Shanghai.

Harry Hui, President of Universal Music Southeast Asia, said: “Our aim is to be the No. 1 next generation music and entertainment company that connects China to the world. SUM will be a whole new Chinese entertainment vision that will bring a 360-degree music experience to consumers and it will inject a new level of international expertise into the growing Chinese industry.”

“By combining SMG’s China media dominance and Universal Music’s international network of top artists, producers, and creative talent, SUM will be an instrumental bridge between China and the world.”

Li Ruigang, President of Shanghai Media Group, said: “This joint venture is an exciting new step towards the international stage for the SMG. With a major international partner like Universal Music working with us, I am confident that SUM will be the start of many new and great initiatives for SMG. This new initiative is very much in line with the SMG spirit of continuously striving to bring bigger and better projects to our market.”

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