///Corporate

UNIVERSAL REPUBLIC’S MONTE LIPMAN & AVERY LIPMAN SIGN NEW LONG-TERM CONTRACT WITH UNIVERSAL MUSIC GROUP (UMG)

New York, New York, January 4, 2011 - Universal Republic Records President and Chief Executive Officer Monte Lipman has signed a new, long-term contract with Universal Music Group (UMG), it was announced today by UMG Chief Executive Officer Lucian Grainge, Chairman Doug Morris, and Universal Motown Republic Group (UMRG) Chairman Mel Lewinter.

In addition, Avery Lipman, the label’s Co-President and Chief Operating Officer, has also renewed with UMG to a similar long-term agreement.

“Monte and Avery are two of the most innovative executives in the business today,” stated Mr. Grainge. “From the time they launched Republic Records in 1995, to the formation of Universal Republic, they have displayed creative leadership at its very best. They have been guided by a real passion and savvy for discovering and nurturing new talent, while from the business perspective, they have done an outstanding job in creating one of the industry’s most successful new labels known for its winning spirit and culture. We could not be more delighted to have them as part of the UMG team.”

“One of the delights in working with Monte and Avery over the last several years has been witnessing their remarkable achievements first-hand,” commented Mr. Lewinter. “Their tenacity, talent and dedication to music has helped Universal Republic emerge as a leader, and we have no doubt that they will make it even a more formidable and very successful company in the years to come.”

“Launching Universal Republic in 2005 has been one of the best experiences that Avery and I have ever had,” added Monte Lipman. “With the support of a dynamic team of executives, an incredible roster of artists, and a mantra of ‘breaking new artists,’ we look forward to even greater success while continuing to make an impact on pop culture.” Avery Lipman adds, “We are very grateful to Doug, Lucian and Mel for their continued support, enthusiasm and friendship over the 15 years that we’ve worked together.”

Through Universal Republic, Monte and Avery Lipman have amassed a roster of such chart-topping and critically-acclaimed artists as Jack Johnson, Amy Winehouse, Damian “Jr. Gong” Marley, Enrique Iglesias, Colbie Caillat, 3 Doors Down, Owl City, Florence + The Machine, Godsmack, Hinder, India.Arie, Jay Sean (Cash Money Records), Edward Sharpe & the Magnetic Zeros (Vagrant Records), Bow Wow (Cash Money Records), Saturday Night Live’s Andy Samberg, Mika and Family Guy creator Seth MacFarlane, among many others. They are also home to successful ventures and alliances with Lava Records (home to 2011 Brit Awards’ Critics’ Choice winner Jessie J.), Downtown Records, Indie-Pop Records, Simmons Records and Tuff Gong Records (home to Stephen Marley). And just last year, while a majority of the industry was reducing their creative investments, Universal Republic expanded its A&R activities with both the signing of Martina McBride and the launch of country chart toppers, The Band Perry on Republic Nashville (its new venture in partnership with Scott Borchetta’s Big Machine Records). Headquartered on Music Row, Republic Nashville utilizes the combined resources of Big Machine Records and Universal Republic Records. Both labels first joined forces in 2007 to propel country Superstar Taylor Swift to Mainstream Pop radio audiences and beyond, with Taylor becoming one the best-selling artists in the world.

About Universal Music Group

Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry's leading global music publishing operation.

Universal Music Group's record labels include A&M/Octone, Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Polydor Records, Show Dog – Universal Music, Universal Motown Republic Group, Universal Music Latino 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 catalogue of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG’s catalogue is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; and Twenty-First Artists, its full service management division.

Universal Music Group is a unit of Vivendi, a global media and communications company.

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