Santa Monica, California, October 21, 2003 — Tom O’Malley has been promoted to Executive Vice President of Universal Music and Video Distribution (UMVD), it was announced today by Jim Urie, President, UMVD.

Based in Universal City, Mr. O’Malley, who reports to Mr. Urie, will retain Chief Financial Officer duties with additional responsibilities for sales, marketing and new media.

“Tom has played a key role in defining and implementing many of our critical music and business initiatives,” said Mr. Urie. “We are extremely fortunate to have an executive with his broad experience and leadership ability.”

Mr. O’Malley said, “It’s a privilege to be offered this opportunity to continue working with the best and most talented people in the music business.

Mr. O’Malley has been a music and finance executive with Universal for eight years, most recently serving as CFO for UMVD. Prior to joining UMVD, he was the Director of Finance for the Walt Disney Company.

During Mr. O’Malley’s tenure at UMVD, he has played a critical role in their unprecedented success. He was directly involved in UMVD’s integration of the PolyGram Music Group in 1998 and has worked closely to secure many of UMVD’s third party distribution deals. Most recently, he played a key role in implementing the new pricing model for Universal Music Group.

Mr. O’Malley holds a master’s degree in business from the University of Chicago.

Universal Music and Video Distribution handles the distribution and sales for such labels as Universal Motown Records Group, Island Def Jam Music Group, Roadrunner, Interscope Geffen A&M Records, MCA Records, MCA Nashville, Universal South, Lost Highway, Mercury Nashville, Verve Music Group, Universal Classics, Universal Music Latino, Universal Music Enterprises, Hip-O, UTV, Univision Music Group, DreamWorks, Disa, ABKCO, Hollywood, Lideres Entertainment, Lyric Street, Northsound, RMM, Thump, Varese Sarabande, Walt Disney, VI Music and Viva Discos as well as theatrical video from Universal Studios.

About Universal Music Group

Universal Music Group is the world’s leading music company with wholly-owned record operations or licensees in 71 countries. 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 Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor, Universal Music Latino, Universal Motown Records Group, 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 Strategic Marketing and Commercial Affairs (outside the U.S.). Universal Music Group also includes eLabs, a new media and technology division.

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