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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: zurdo who wrote (23376)	9/22/1999 5:22:00 PM
From: KS	Read Replies (3) \| Respond to of 27722

ry September 22, 1999 16:56 Navarre Enters Digital Distribution Arena; Announces 1st Group of Labels Signed MINNEAPOLIS--(BUSINESS WIRE)--Sept. 22, 1999--Navarre Corporation (NASDAQ: NAVR) today announced its entrance into the music digital distribution arena. Navarre's digital distribution label agreements give it the rights to distribute music digitally over the Internet. The agreement also gives Navarre the ability to assign those rights to their retail and e-commerce customers. Internet industry research firm, Forrester Research, estimates in its March 1999 report, that download music sales will be over $500 million by 2002. One of the leading music distributors, Navarre has immediate access to its cadre of independent labels and artists' product. Labels that have assigned their digital distribution rights to Navarre include the likes of American Gramaphone and its Mannheim Steamroller catalog. Dreamcatcher, (Kenny Rogers), Three Roads and Jacket Records, (Vonda Shepard), FreeFalls Entertainment (Willie Nelson), Point Group (Irish Tenors) and Page Music Group, which boasts over 700 titles that cross a broad base of musical genres, have also signed Navarre's digital distribution agreement. Eric Paulson, President and CEO, commented, "This piece of our corporate strategy gives us the ability to offer our broad-based digital catalog to all of our current and any new retail and e-commerce customers. Having recently announced our strategic alliance with NetSales, Inc. for electronic software distribution. (ESD), we now have the ability to offer a full complement of our entertainment products digitally. Navarre is now positioned to offer our customers the option of traditional or digital delivery of our products to their consumer base. I believe this puts Navarre in a leadership position that will help define the distribution industry of the future." Jim Chiado, VP/GM Independent Music Division, stated, "We anticipate that by year-end the majority of our labels will be on board with our digital distribution agreement. All of our future label agreements will contractually include the digital distribution rights." Navarre Corporation, a Russell 2000 Index and Russell 3000 Index stock, operates one of the first "business to business" Internet E-Commerce web sites www.navarre.com and provides fulfillment for both traditional and E-Commerce retail sites. Navarre's major business groups are: Computer Products Division which distributes quality consumer software to retailers nationwide; Independent Music Distribution which is the distributor of independent music labels in the United States and now Canada; Alternative Retail Markets which distributes major label music to non-traditional retail outlets, and also distributes DVD Home Video product; and the majority-owned subsidiary NetRadio.com, which is a leading Internet radio network, featuring 120 channels of originally programmed audio content at netradio.com and its online store CDPoint. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created hereby. Statements in this release that are not strictly historical are "forward looking" statements which are subject to risk and uncertainty. Investors are cautioned that all "forward-looking" statements contained herein may not be reasonable and assumptions could be inaccurate, and should not be construed, considered or assumed as guarantees. The inclusion of such information should not be regarded as a representation or guarantee by the Company, or any other person, that the objections and plans stated herein will be achieved. Unknown factors could cause actual results to differ as well as other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its prospectuses, and Forms 10-K and 10-Q filings. CONTACT: Navarre Corporation Joyce Fleck, 612/535-8333 jfleck@navarre.com or Dresner Corporate Services J. Spencer Maus, 312/726-3200 smaus@dresnerco.com