investor relations

WEA Announces Exclusive Distribution Agreement With Legendary Savoy Label Group


WEA Corp., Warner Music Group's U.S. sales and retail marketing company, announced today that it will be the exclusive distributor for the award-winning Savoy Label Group (SLG) effective in May 2005.

SLG is the United States arm of Japan's oldest record company Columbia Music Entertainment (formerly Nippon Columbia). A full service record company specializing in the marketing of adult music worldwide, SLG controls the historic jazz catalogs from Savoy, Muse and Landmark records, the renowned Denon Classics and Jazz catalog and an artist roster of some of today's finest artists in the worlds of contemporary and traditional jazz, classical, classical crossover and adult contemporary.

In making the announcement, John Esposito, President and CEO, WEA Corp., said, "We are thrilled to partner with the Savoy label group, a name synonymous with jazz, classical and adult contemporary music. SLG is a perfect complement to the historic catalog of WMG's labels."

Noted Steve Vining, President of SLG, "Under John, WEA Corp. has developed into an extraordinary sales and marketing company that represents the ideal environment for a growing label group like SLG. All of us at Savoy are delighted to have the opportunity to work with such an enthusiastic and professional team."

Under the multi-year agreement, WEA will provide U.S. distribution services to SLG's record labels including Savoy Jazz whose catalog includes classic recordings from Charlie Parker, Dexter Gordon, John Coltrane, Miles Davis, Billy Eckstine and many others. Savoy Jazz's current artists include 2005 Grammy nominee Andy Bey, Ravi Coltrane, and rising star keyboardist Vijay Iyer.

Additionally, WEA will provide services to SLG's 429 Records, whose artists include alt-country duo The Warren Brothers and newly signed LA-based pop/rockers Saucy Monky; Denon Classics which features one of Billboard's top selling classical artists of 2004 and PBS phenom Andre Rieu; and SLG Records, the adult contemporary arm of SLG whose current artist roster includes legendary singer-songwriter Joan Armatrading.

About WEA Corp.

WEA Corp. was the first major music distribution company in the U.S. and has continued to set the standard for sales and marketing in the music industry for more than thirty years. In addition to the Warner Bros., Elektra and Atlantic labels, WEA distributes audio and video releases from Rhino Entertainment, Asylum Records, Word Entertainment, Time-Life Music, Warner Music Latina, and Curb Records, as well as several other labels. Headquartered in New York, WEA Corp. has regional offices in Atlanta, Los Angeles, New York and Minneapolis. WEA Corp. is a Warner Music Group company.

About The Savoy Label Group

Savoy Jazz is a unit of the Savoy Label Group (SLG). SLG is the North American unit of Columbia Music Entertainment (formerly Nippon Columbia), the oldest music company in Japan. Newly reorganized and now headed by Chairman Strauss Zelnick, Columbia Music Entertainment has re-emerged as a significant creative force with a stable of newly signed platinum-selling artists including the current #1 record in Japan.