New York, April 11, 2000 — Marinus N. (Nick) Henny has been named Chief Financial Officer of Universal Music Group. Based in New York, Mr. Henny will be responsible for overseeing the global finance operations of the company, it was announced today by Bruce Hack, Vice Chairman, Universal Music Group (UMG).

“We are delighted that Nick has joined the Universal Music Group,” commented Bruce Hack, Vice Chairman of UMG. “He brings a wealth of experience which will be invaluable to the future growth of our company.”

Mr. Henny said, “Joining Universal Music is a great opportunity for me, especially at a time when the company is experiencing such incredible success. I look forward to working with the many talented people who have made Universal the leader it is today.”

Prior to his appointment, Mr. Henny served as Chief Financial Officer and Executive Vice President of Sony Corporation of America (SCA) with responsibility for overseeing the financial functions of the company. He also was a member of SCA’s senior management committee with responsibility for developing direction and strategy and the SCA Finance and Audit Committees. Additionally, Mr. Henny held the position of President, Sony Capital Corporation, a company responsible for the financing, cash management and foreign exchange services of Sony’s U.S. based, Canadian and Latin American electronics businesses and the worldwide entertainment businesses outside of Japan.

Mr. Henny joined Sony in February 1988 as a Senior Vice President and was named Executive Vice President in 1993. Prior to joining Sony, he was a partner at the accounting firm of Price Waterhouse. He earned his degree in Accounting from the State University of New York at Albany and is a Certified Public Accountant in New York and New Jersey.

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, 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.