///Corporate

PETE SCIFRES PROMOTED TO PRESIDENT, UNIVERSAL MANUFACTURING & LOGISTICS

Santa Monica, California, October 3, 2000 — Pete Scifres has been promoted to President, Universal Manufacturing & Logistics (UML) it was announced today by Zach Horowitz, President and COO of Universal Music Group (UMG).

Based in Universal City and reporting directly to Mr. Horowitz, Mr. Scifres is responsible for overseeing throughout the United States the company’s CD manufacturing plants, physical distribution centers, and mastering studios, as well as production/inventory control and finished goods purchasing for UMG. UML’s facilities include four distribution centers and two manufacturing plants. Mr. Scifres also continues his role as a member of the Board of Directors of Matsushita Universal Media Services (MUMS), the DVD/CD manufacturing joint venture in the U.S. with Panasonic Discs Services Corporation.

“Pete is an outstanding executive who has built Universal Manufacturing & Logistics into a model system of efficiency and innovation,” commented Zach Horowitz of UMG. “As the industry evolves, we are confident that Pete will continue to lead this area with his expertise. He is a tremendous asset to our company.”

Prior to this promotion, Mr. Scifres served as Senior Vice President of Manufacturing and Operations at Universal Music & Video Distribution since 1990. In this capacity, he oversaw Universal’s entry into CD manufacturing and the setup of physical fulfillment systems to delivery video cassettes direct to mass merchants. Most recently, Mr. Scifres led the redesign of Universal’s manufacturing and physical distribution business during Universal’s integration of PolyGram Music.

Previously Mr. Scifres held various management positions in the video manufacturing industry, including Vice President and General Manager of Technicolor Videocassette’s West Coast Manufacturing and Distribution Operations. He holds a bachelors and masters degree in Engineering from Purdue University and an MBA from University of Chicago.

Universal Music Group is the world's leading music company with wholly-owned record operations or licensees in 63 countries around the world. Its businesses also include Universal Music Publishing Group, one of the industry's largest global music publishing operations.

Universal Music Group consists of record labels A&M Records, Decca Record Company, Deutsche Grammophon, Geffen Records, Interscope Records, Island Def Jam Music Group, Jimmy and Doug’s Farmclub.com, MCA Nashville, MCA Records, Mercury Records, Motown Records, Philips, Polydor, Universal Records, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and UM3 (outside the U.S.).

Universal Music Group is a unit of The Seagram Company Ltd., a global entertainment and spirits and wine company.

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