Richard Bengloff Appointed Sr. VP, CFO Elektra Entertainment Group

August 3, 1998

Richard Bengloff has been appointed Senior Vice President, Chief Financial Officer for the Elektra Entertainment Group, Sylvia Rhone, Chairman/CEO of the Elektra Entertainment Group announced today. "Richard is a widely respected financial executive," stated Ms. Rhone. "His technical expertise combined with his sensitivity to artist and management concerns make him an invaluable asset to our Financial Operations. The entire company joins me in welcoming Richard to Elektra."

Previously Mr. Bengloff was Vice President, Distribution and Operations at Sony Music Distribution. In 1994 Mr. Bengloff was appointed Vice President, Finance, Sony Music Distribution. In 1991 Mr. Bengloff was appointed Vice President, Finance & Administration, Relativity Entertainment Distribution Inc., a Sony Music affiliate.

Mr. Bengloff holds the Master of Business Administration degree in finance and Accounting from Columbia University Graduate School of Business, and the Bachelor of Arts degree in Economics and Political Science from the State University of New York at New Paltz. Mr. Bengloff is a Certified Public Accountant and a member of the Financial Executives Institute.

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