Warner Music Group Names Elliott Peters, Vice President, Senior Counsel and Head of Digital Legal Affairs at Warner Music Group

NEW YORK, NY, Aug 29, 2005 -- Warner Music Group Corp. (NYSE: WMG) announced today that Elliott Peters has been promoted to the newly created position of Vice President, Senior Counsel and Head of Digital Legal Affairs. Formerly Vice President, Associate Counsel at the company, Peters will continue to report to Dave Johnson, Executive Vice President and General Counsel at WMG.

Peters' day-to-day duties in the new media space will include the primary legal role in the negotiation of new media deals, and the formation of new business models and oversight of the rights clearance process.

Peters has played the primary legal role in negotiating substantially all of WMG's U.S.-based new media deals.

"Over the last few years, Elliott has developed a deep understanding of the legal imperatives facing the music industry in the digital age," said Johnson. "In addition, he has played a significant part in several of our corporate transactions, including the acquisition of Word Entertainment and the sale of Warner Bros. Publications and our interest in The Columbia House Company."

"Technology and the digital revolution present an evolving legal landscape and exciting opportunities for the music industry, and I am thrilled to be part of such a dynamic and innovative company as Warner Music Group," said Peters.

Peters is a graduate of The Wharton School of the University of Pennsylvania and Columbia Law School. He practiced corporate law in the New York, London and Hong Kong offices of Shearman & Sterling before joining WMG in 2000.

About Warner Music Group

Warner Music Group (WMG) became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Atlantic, Bad Boy, Elektra, Lava, Maverick, Nonesuch, Reprise, Rhino, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide. For more information about Warner Music Group, visit our corporate website at www.wmg.com.