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May 8, 2006

LOS ANGELES -- Kobalt Music Group has concluded an exclusive, long-term agreement with CRC Jianian Cultural Development Co. Ltd. (CRC Jianian) to administrate the company's publishing rights, including the China Record Corporation's 65,000-title catalog, for the world excluding China. Reciprocally, Kobalt and CRC Jianian have signed an exclusive agreement for the representation of Kobalt's catalog in mainland China.

The CRC Jianian catalog includes songs by contemporary Chinese artists in the pop, rock, dance, electronica and fusion genres, as well as traditional Chinese ethnic, opera and folk music, spanning some 5,000 years of Chinese musical history. Commented Willard Ahdritz, Kobalt CEO and Founder: "Kobalt is honored to be chosen to handle this unique catalog. We are convinced that we will be able to take it to another level of exploitation and collections. CRC Jianian has an excellent position in China, and our new relationship will, for certain copyrights, allow us to work our global hits more actively in the burgeoning Chinese market." "This is an amazing opportunity for both our companies," said Peter Jansson, President of CRC Jianian. "Kobalt has essentially 'built a better mousetrape' for the music publishing industry worldwide, and we are both proud and fortunate to have them represent such an important catalog internationally."

About CRC Jianian CRC Jianian Cultural Development Co. Ltd. is a joint venture partnership between AIM Group LLC, PanPacific Ventures, Inc. and China Record Corporation, the oldest and largest government-owned record label in mainland China. The joint venture has headquarters in Beijing with offices also in Los Angeles. The company's business model incorporates worldwide music publishing and digital distribution, music from film and television productions in China and the US, including new artist development, and will subsequently lead to the creation of a stable and viable music publishing and digital distribution network within the mainland. In 2006, CRC Jianian will be announcing the signings of several Chinese contemporary artists in addition to a roster of foreign catalogs for sub-publishing and distribution within China. With 67 million in overseas Chinese populations around the globe, there is increasing interest and demand for Chinese music. CRC is remixing the CRC catalog into dance, ambient and chill-out genres thereby breathing a new life into the catalog for global distribution.

About Kobalt Music Group With offices in London, New York, Nashville, Los Angeles, Berlin and Stockholm, Kobalt Music Group (Kobalt) is a global, independent music publisher offering administrative and creative services to writers, publishers and other publishing rights holders. As the fastest growing music publisher in the world and a Top 10 UK publisher, Kobalt has become recognized as the new publishing model, fast attracting major writers and artists and publishing companies. Kobalt's unique and modern, centralized royalty collection infrastructure is based on direct relationships with collection societies and a unique proprietary technology which enables clients to receive faster delivery of revenues and information in a transparent and efficient manner. Kobalt Music Group's clients include: Gwen Stefani, 8 Mile Style, Max Martin, Desmond Child, Billy Steinberg, Richard Ashcroft, Editors, The Hives, Dr. Luke, Nine Inch Nails, Sanctuary Music Publishing, Ric Wake, EverGreen Copyrights, Tony Kanal, UB40, Tears For Fears, Air-Edel Music, Axl Rose, B-Unique Music, Rami, Arnthor Birgisson, Antony Hegarty (of Antony and the Johnsons), Badly Drawn Boy, Cal IV Music, Integrated Copyright Group, Bill Wyman, Wet Wet Wet, Teddy Riley, Denzil Foster, Dennis Matkosky, Ignition Music, Big Life, James Brown and many others.