Former DAMAGEPLAN Manager's Company Is No More

June 9, 2007

226 Music Group, Inc., the company launched by former DAMAGEPLAN manager Paul Bassman, has announced that after a series of unfortunate setbacks the company will close its artist management division and is currently assessing the viability of its independent label division.

On April 10, 2007, DROWNING POOL terminated its artist management agreement with the company, after eight years together. The company also lost its record distribution with Sony's independent label distribution subsidiary RED Distribution citing poor album sales by 226 recording artists JACKNIFE and DRYLINE. Additional artist management agreements with WALLS OF JERICHO and DAMAGEPLAN have been terminated as well as joint venture recording projects including artists LOLA RAY.

"We have encountered numerous obstacles starting with the tragic murder of Dimebag Darrell Abbott of DAMAGEPLAN in late 2004," stated Paul Bassman, CEO of 226. "In addition, repeated personnel changes with DROWNING POOL and the loss of their label deal with Wind-Up Records delayed our timetable for launching their next record. These events ultimately impacted our ability to leverage those established artists and effectively launch new artists on the 226 label. At this time we are accessing all possible options to determine if 226 can remain a viable operating entity."

226 Music Group, Inc. is a multi-faceted entertainment company encompassing a traditional independent record label model, artist management company and an on-line division providing music and entertainment over the Internet. Zero-Sum Recordings, a division of 226 Music Group, is an independent record label that produces, licenses, acquires, promotes and is distributed by RED Distribution, a division of Sony. 226 Music Group also specializes in developing, utilizing and marketing technology systems to deliver music in a digital format to the end consumer in an expeditious and cost effective manner. These divisions of 226 will be integrated to accommodate the rapidly changing methods of promoting and delivering music for the consumer market.

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