Miami, March 8, 1999 – As part of the worldwide integration of PolyGram and Universal Music, Manolo Diaz, Chairman of Universal Music Latin America, has appointed Camilo Muedra Managing Director of the new Universal Music Venezuela.

Manolo Díaz comments: “Camilo Muedra has a profound knowledge of the entertainment industry in Latin America. His experience in the areas of Marketing, Sales, and A&R has been a key factor in the success of PolyGram Venezuela over the last three years.”

Mr. Muedra is succeeding Carlos Sanchez who has been appointed President of Universal Music Latino in the U.S. During the last three years, Mr. Muedra was Director of Marketing & Operations at PolyGram Venezuela, and prior to that, Managing Director of Rodven Records in Venezuela. From 1989 to 1994, he was Director of Ariola Spain. Mr. Muedra started his career as an industry professional in 1962 with the Spanish label Discos Vergara.

Camilo Muedra said: “Venezuela is an exciting market that has opened its doors to me. I am honored to have the opportunity to lead the Number 1 record company in this country. Although replacing Carlos Sanchez will be a very difficult task, I will strive to continue his work and make every effort to ensure that Universal Venezuela remains the great company that our artists deserve.”

Universal Music Latin America is a division of Universal Music International, a unit of the Universal Music Group. UMG is part of The Seagram Company Ltd, a global entertainment and spirits and wine company.