Los Angeles, California, January 25, 2000 — Andy Schuon has been named President & Chief Operating Officer of Universal Music Group’s (UMG) online record label Jimmy and Doug’s Farmclub.com (www.farmclub.com) it was announced today by Jimmy Iovine, Chairman & Chief Executive Officer, Jimmy and Doug’s Farmclub.com.

Based in Los Angeles, Mr. Schuon will be responsible for overseeing all aspects of company including branding and the development and integration of the company’s record label operations, online activities and television programming. On January 31, 2000, the company will officially launch its web site (www.farmclub.com) as well as debut its USA Network’s television program, “Farmclub.com.”

“Jimmy and Doug’s Farmclub.com is about discovering and developing artists on and off-line by integrating the community power of the Internet with traditional entertainment outlets,” said Mr. Iovine. “It’s a new formula that requires someone like Andy who has been a visionary in developing and packaging new programming for record labels, cable network music channels, and radio stations. We’re glad to have connected with such a talented executive.”

“Andy has that rare mixture of creativity, business acumen and management skills,” said Doug Morris, Chairman & Chief Executive Officer of UMG. “With his proven track record, Andy is the best-suited executive to create new programming that will define the look and feel of the future of entertainment.”

Mr. Schuon commented, “I am thrilled to be a part of this very entrepreneurial and forward-thinking music company. As Doug and Jimmy are two of the most talented and respected executives in the business, it is an honor for me to have this unique opportunity to work so closely with them.”

Mr. Schuon joins Jimmy and Doug’s Farmclub.com from Warner Brothers Records where he served as Executive Vice President and General Manger since 1998 with responsibility for all creative and administrative issues including promotion, marketing, artists, advertising, art, sales and production. Prior to that, Mr. Schuon spent several years at MTV: Music Television, most recently as Executive Vice President of Programming. Mr. Schuon is credited with leading MTV’s evolution from a “video jukebox” to a fully packaged “youth culture” network. Also at MTV, Mr. Schuon was the executive producer of the MTV Video Music Awards and the MTV Movie Awards and created and developed such programming as “Alternative Nation,” “MTV Live,” “12 Angry Viewers,” “MTV James,” and “The MTV Beach House.” Mr. Schuon also served as Executive Vice President of Programming at VH-1 where he supervised the successful re-launch of VH-1.

Prior to MTV, Mr. Schuon served as program director at KROQ-FM in Los Angeles from 1989 to 1992. Under his creative direction the station’s ratings soared. Mr. Schuon was responsible for branding and marketing the station as the “World Famous KROQ” and developing the “alternative rock” format. Following this refocus, KROQ broke Pearl Jam, Nirvana, Red Hot Chili Peppers and others as more than 100 radio stations around the country adopted the alternative format. Mr. Schuon began his career in 1981 at radio station KOZZ-FM in Reno. He also worked in various positions at KISW-FM in Seattle, KZEP-FM and KISS-FM in San Antonio, and KAZY-FM in Denver, before joining KROQ in Los Angeles.

Jimmy and Doug’s Farmclub.com was co-founded by industry veterans Jimmy Iovine, Co-chairman of Interscope Geffen A&M, and Doug Morris, Chairman & Chief Executive Officer of UMG. With its “headquarters” on the Internet at www.farmclub.com, Jimmy and Doug’s Farmclub.com will put a record label in every town – allowing artists to have direct contact with record executives by digitally submitting their recordings, obtain professional A&R input and feedback from music fans, be showcased on a weekly USA Network’s television show and secure a major recording contract.

Universal Music Group is the world’s leading music company with wholly-owned record operations or licensees in 59 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.