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Platinum Entertainment Partners with PLATINUM technology to Empower Consumers to Create Customized CDs in their Homes via the Web First ever digital delivery to break new ground in online entertainment in the home DOWNERS GROVE, Ill.--(BUSINESS WIRE)--April 29, 1998-- Platinum Entertainment, Inc. (NASDAQ: PTET - news), the largest independent music label in the U.S., today announced that it has partnered with PLATINUM technology (NASDAQ: PLAT - news), to develop and operate an innovative Web-based entertainment emporium that will allow consumers to digitally download titles from Platinum Entertainment's extensive music catalog to personal computers, enabling them to create customized CDs in their own homes. In addition, the new service will provide standard mail order delivery of almost 500,000 commercially available titles and customized CDs compiled from any of Platinum Entertainment's own titles. The new, digitally encrypted service, including online sampling and easy downloading of digital music selections, live broadcasts of artists' works, artist interviews, chat sessions, and interactive liner notes, is expected to be fully operational in the third quarter of this year. To create CDs at home, users can order Compact Disk-Recordable (CD-R) drives and software directly from Platinum Entertainment's Web site at an estimated cost of approximately $200. ''This collaboration will empower consumers to search, sample and selectively download CD-quality music on a per-song basis, effectively allowing them the freedom to create their own CDs,'' said Steve Devick, chairman, president and chief executive officer of Platinum Entertainment. ''Our new entertainment delivery service will take advantage of the search, selectivity and immediate delivery capabilities inherent in the Internet, enabling consumers to create a unique, individualized entertainment experience in the comfort of their own homes.'' PLATINUM technology will provide significant consulting services including e-commerce, Web host infrastructure, system management, and design services along with currently available digital compression, encryption and delivery techniques needed to support the in-home service. ''With today's announcement, this powerful collaboration between Platinum Entertainment and PLATINUM technology provides consumers with the music they want, when and where they want it,'' said Andrew J. (Flip) Filipowski, president and chief executive officer of PLATINUM technology. ''Our enterprise e-commerce experience and extensive Web-based e-commerce expertise, coupled with Platinum Entertainment's audio content and the encryption and delivery available today, make for an extremely strong digital search, selection and delivery system for consumer-based business on the Web.'' Platinum Entertainment will offer its entire library of over 12,000 blues, pop, classical, gospel, country, new age, and urban/dance format music titles for digital downloading via the Web, along with new releases from its extensive roster of artists, including The Beach Boys, Peter Cetera, The Blues Brothers, Dionne Warwick, The Band, The Royal Philharmonic, Taylor Dayne, and many other famous performers and promising new artists. About Platinum Entertainment PLATINUM Entertainment, Inc. produces, licenses, acquires, markets and distributes high quality recorded music for a variety of music formats. Platinum and its wholly-owned subsidiaries currently produce music for Gospel, Classical/Themed, Adult Contemporary, Country, Blues and Urban Dance formats, primarily under it CGI Records, Intersound Classical, River North Records, Intersound Country, House of Blues and Intersound Urban labels. Platinum's products include new releases, typically by artists established in a particular format, as well as compilations and repackagings of previously recorded music that enable Platinum to exploit its catalog of master recordings. About Platinum technology Solutions PLATINUM technology Solutions, PLATINUM's consulting and education division, offers a wide range of consulting and training expertise in applications development, information management (including data warehousing), online services (including Web site design and electronic commerce integration), systems management and Year 2000 conversions. About Platinum technology PLATINUM technology, headquartered in Oakbrook Terrace, Illinois with 1997 revenues of over $664 million, provides software and services that help IT organizations manage and improve the IT infrastructure. Solutions include database and systems management, data warehousing and decision support, application lifecycle, and Year 2000 reengineering. For information, visit www.platinum.com. Contact: For Media Inquiries: Platinum Entertainment, Inc. Michael Ares, 212/308-4504 ext.215 or PLATINUM technology, inc. Stacey Johnson, 630/620-5000 ext. 1207 stacey.johnson@platinum.com or Bill Paige, 630/769-0033 | ||||||||||||||
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