Los Angeles, California, August 2, 2000 — The Universal Music Group has entered into an agreement to acquire Rondor Music, one of the world’s leading independent music publishing companies, it was jointly announced today by Herb Alpert and Jerry Moss, Co-Founders, Rondor Music (Almo Music/ASCAP, Irving Music/BMI) and Zach Horowitz, President and Chief Operating Officer, Universal Music Group (UMG).

Founded in 1962, Rondor Music has remained one of the most successful independent publishers of the last half century. This significant acquisition by Universal Music Group creates a new home for Rondor Music, which will continue to operate as a free standing creative operation in the U.S. and U.K. Lance Freed, President of Rondor Music, will report to Mr. Horowitz and continue to oversee the operation. David Conrad will continue as Senior Vice President of Rondor in Nashville. Richard Thomas will continue as Managing Director of Rondor in the United Kingdom. Universal Music Publishing Group, headed by worldwide President David Renzer, will handle administration globally and provide additional support services.

Rondor Music has an unparalleled catalog of over 60,000 songs which includes some of the most popular compositions of the modern era. The Rondor catalog embodies the works of such important songwriters as The Beach Boys, Al Green, Otis Redding, Peter Frampton, Isaac Hayes, Supertramp, Tom Petty and Leon Russell.

Songs in the Rondor catalog have been recorded by some of the most important artists of all time. These include:

“California Girls,” “Good Vibrations,” “Wouldn’t it Be Nice ” The Beach Boys “Let’s Stay Together,” “Love and Happiness” Al Green “We’ve Only Just Begun,” “Rainy Days and Mondays” The Carpenters “American Girl,” “Breakdown” Tom Petty “Tears in Heaven” Eric Clapton “You are So Beautiful” Joe Cocker “Money for Nothing” Dire Straits “Baby I Love Your Way” Peter Frampton “Thriller,” “Rock with You” Michael Jackson “In the Midnight Hour” Wilson Pickett “Sitting on the Dock of the Bay Otis Redding “Respect” Aretha Franklin “Higher Love” Steve Winwood “White Rabbit,” “Somebody to Love” Jefferson Airplane “Shaft” Isaac Hayes “A Song For You” Leon Russell “My Heart Will Go On” Celine Dion “Dreamer” Supertramp “I Am Woman” Helen Reddy “Soul Man” Sam & Dave “The Air That I Breathe” The Hollies

“Hearing Rondor’s music is like hearing chapters of popular music history,” comments Mr. Horowitz. “These are gems—some of the most popular and recognizable songs ever recorded. And Rondor is far more than a static catalog. It has some of the most widely respected contemporary songwriters on its current roster and its management team continues to sign the stars of tomorrow. It is especially exciting to be able to continue with the key creative team responsible for building this remarkable collection of music.”

Mr. Horowitz continues, “ In addition to the breadth of the catalog, this presents a powerful synergistic opportunity for UMG because over a third of Rondor’s top-earning songs are contained on master recordings released through UMG’s record labels.”

Mr. Alpert comments, “The Rondor catalog represents a whole bevy of cherished memories for me starting in 1962 with “The Lonely Bull.” I’m pleased that we found a good home for the songs, and that they will be reunited with the A&M catalog that Jerry and I built.”

Mr. Moss comments, “Personally, I feel very lucky to have been associated with the songs and the writers that Rondor has represented over the years. I also have a sense of immense gratitude to Lance Freed and the tremendous team he formed to make the company the jewel that it is. We’re confident that with the support of the Universal Music Group, the future of Rondor will shine even brighter in the years to come.”

Added Mr. Freed, “Rondor has a long history of distinguishing itself with talented writers, quality songs and a unique creative environment for its artists. I am delighted that the core Rondor team will continue to build upon our many accomplishments over the years as part of the Universal Music Group.”

Mr. Freed has led Rondor’s core creative team for over 20 years. Starting out in the mailroom of the company, he has been president since 1980 and has mentored such writers as Will Jennings, Annie Roboff, Melissa Etheridge, Peter Allen, Gerry Goffin, Paul Williams, and Bryan Adams. David Conrad has been with Rondor since 1981 and has consistently positioned Rondor Nashville as one of the real powers in country music.

Rondor Music boasts numerous awards and achievements. In the most recent decade, these include three Song of the Year Grammys awarded to “From A Distance,” “Tears In Heaven” and “My Heart Will Go On.” Rondor has also garnered three Academy Awards for Best Song including “Shaft,” “Arthur’s Theme” and “My Heart Will Go On.”

Rondor represents many significant songwriters and artists including Stephen Stills, Rod Temperton, Mark Knopfler, Emmylou Harris, Bruce Springsteen, William Orbit, Everclear, Will Jennings, The Doors, Garbage, Jurassic 5, Shep Crawford, and Steven Van Zandt to name a few. Currently, the company has more than 95 songs charted on Billboard’s Top Album charts and has ten hit singles on Billboard’s Pop, R&B and Country charts.

Mr. Renzer, comments, “I look forward to working with Rondor Music around the world. Lance and his team have put together one of the finest collections of songs ever and it is a privilege to be in business with them as they begin the newest chapter of the incredible Rondor story.”

With over 40 offices in 36 countries worldwide, Universal Music Publishing Group (UMPG) is one of the music industry’s largest music publishing operations.

UMPG is part of the Universal Music Group, the world’s leading music company with wholly-owned record operations or licensees in 63 countries around the world. Universal Music Group consists of such record labels as 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.