DGAP-Adhoc: 313music JWP AG sells participating interest in Puerto Rico

313music JWP AG / Miscellaneous

16.06.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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313music JWP AG sells participating interest in Puerto Rico 
Universal Music Group takes over remaining shares in VI Music LLC 

Munich, 16 June 2009. - 313music JWP AG and Juan Vidal Nieves, the partners
in VI Music Holding Inc., today reached agreement with Universal Music
Group about the sale of their shares in VI Music LLC, San Juan/Puerto Rico,
with effect according to the law of obligations as of 01 January 2009. They
agreed not to disclose the purchase price. Universal held 50% of the shares
in the operative business of VI Music LLC, which specialized in the
production and publication of sound carriers in the American region. The
remaining shares in VI Music LLC, which are now taken over by Universal,
were owned by VI Music Holding Inc., also based in Puerto Rico, in which
313music JWP AG holds 50% plus one share. Agreement was also reached with
the fellow partner Juan Vidal Nieves on the sale of the holding company.
The shares held by 313music JWP AG will be sold with effect according to
the law of obligations as of 01 January 2009.

As part of a correction of the goodwill of the VI participating interest,
which was overstated in the 2005 consolidated financial statements, the
goodwill was adjusted downwards by EUR 3.6 million in the benchmark figures
as of 31 December 2007; a depreciation of EUR 2.7 million was taken in the
consolidated financial statement as of 31 December 2008. The agreement does
not require any further depreciation.

By taking this important step with a view to focusing on its core business,
313music JWP AG has completely retired from the American music business.
The shares in HoT JWP Music Inc., based in Miami, had already been sold as
at the beginning of 2008.

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Information and Explaination of the Issuer to this News:

313music JWP AG produces and publishes music recordings in which various
artists participate, acquires recordings by other producers and utilizes
them. The company is listed at the Prime Standard segment in
Frankfurt.

Contact:
Klaus Munzert, T: +49 89 9509490, F: +49 89 95094920, contact@313jwp.de,
www.313jwp.de


DGAP 16.06.2009 
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Language:     English
Issuer:       313music JWP AG
              Münchner Straße 135
              85774 Unterföhring
              Deutschland
Phone:        +49-(0)89 95 0 949 0
Fax:          +49-(0)89 95 0 949 2214
E-mail:       contact@313jwp.de
Internet:     www.313jwp.de
ISIN:         DE0005087506
WKN:          508750
Indices:      Prime All Share , Prime Media Performance-Index , Prime IG
              Movies & Entertainment
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Stuttgart, München, Hamburg, Düsseldorf
 
End of News                                     DGAP News-Service
 
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