Modern Records Inc. — Stevie Nicks Box Set Christmas Launch

Business Wire, Oct 9, 1998

BEVERLY HILLS, Calif.--(ENTERTAINMENT WIRE)--Oct. 9, 1998--Modern Records Inc., ("the company") (OTC BB:MDNR)(VSE:MZR.V), is pleased to announce the Christmas launch of Stevie Nicks' box set "Enchanted."

Since the launch of "Enchanted" on the Modern Records label earlier this year it has sold close to 100,000 copies in North America (gold record status for 3 CD box set is 167,000). Beginning this November 1, VH-1 will be running two feature stories on a regular basis about Stevie Nicks; the features are on "Storytellers" and "Behind the Music." The specials on VH-1 will feature many tracks from the "Enchanted" box set.

In addition, currently Stevie Nicks' new single "If You Ever Did Believe" on the movie soundtrack "Practical Magic" with Sandra Bullock and Nicole Kidman is on rotation on VH-1. The single is produced by Sheryl Crow. In excess of 50 radio stations in the U.S. have picked up the single for rotation. Although the "Practical Magic" soundtrack is not on the Modern Records label, the exposure that Stevie Nicks receives should stimulate catalogue sales of Stevie's solo career which is exclusive on the Modern Records label.

In conjunction with the November VH-1 specials, 5 major nationwide retail stores -- Tower Records, Musicland, Coconuts, Camelot and Best Buy -- are initiating their Christmas box set sales program for Stevie Nicks "Enchanted" 3 CD box set. The special price on the box set does not impact margins paid to Modern Records as income remains consistent with full retail pricing of U.S. $44.95.

Modern Records President Randy Jackson says, "The exposure for Stevie Nicks for the next 3 months on national television and radio, along with the launch of international distribution of 'Enchanted', should have significant impact on the next fiscal quarter for both 'Enchanted' and Stevie Nicks catalogue sales. Since Stevie is a major shareholder in Modern Records, we are looking forward to working with her in the future."

ON BEHALF OF THE BOARD

Randy Jackson

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