SNOCAP Signs Agreements with Premiere Independent Labels V2 Music, Matador Records, XL Recordings and the Beggars Group

Business Wire, Sept 23, 2005

SAN FRANCISCO -- SNOCAP, Inc.:

--Music Aggregators Digital Musicworks International, IDEA Distributors, IRIS Distribution, I AM Music and Entertainment, Kufala and Soulseduction; and Leading "Indies" One Little Indian, Psychobaby, Rykodisc, and Six Degrees Also Sign Alliances to Utilize SNOCAP's Content Licensing and Technology Services

SNOCAP, the first end-to-end provider of digital licensing and copyright management services for the digital music marketplace, today announced that it has entered into agreements with some of the industry's most prominent independent labels, including V2 Music, Matador Records and the Beggars Group. The deals call for V2, Beggars Banquet, Beggars USA, 4AD, Mantra Recordings, Mo'Wax Labels, Too Pure, Wiiija, XL Recordings, and other leading indies to upload and register their entire music catalogs with SNOCAP's database services, enabling the digital distribution of their content through commercial peer-to-peer services.

Independent record labels that have reached recent agreements with SNOCAP include: Dualtone, Muse Wrapped Records, One Little Indian, Psychobaby, Rykodisc and Six Degrees. In addition, aggregators of independent label content for digital distribution that have reached agreement with SNOCAP include: Digital Musicworks International, IDEA Distributors, IRIS Distribution, I AM Music and Entertainment, Kufala and Soulseduction. Labels will have the benefit of SNOCAP's easy-to-use web-based interface to clear and manage their licensing rights across all SNOCAP-enabled retail destinations.

"Indie labels are home to a seemingly infinite supply of original music that fans love, and they play a vital role in creating a deeper and more diverse online catalog of music," said Shawn Fanning, chief strategy officer for SNOCAP. "We are pleased that these labels see the benefit of SNOCAP's technology and services. Our partnership with them is a critical step in ensuring the successful future of the authorized digital music marketplace."

"V2 recognizes that online distribution via peer-to-peer is the perfect vehicle to reach fans directly and cost effectively," said Andy Gershon, president of V2 Records Inc. "SNOCAP's distribution technology is enabling the record industry to at last embrace P2P and facilitate the legalizing of peer-to-peer environments without disabling music fans from enjoying music in a great discovery environment. We are very pleased to be working with SNOCAP and look forward to delivering V2's repertoire via peer-to-peer networks in the very near future."

"We want to deliver our artists' music directly to the fans, in the way that they want to consume it," said Simon Wheeler, director of digital at Beggars Group. "Peer-to-peer has always been an incredible way for people to discover new music and share their musical experiences with others; with SNOCAP we can start to build a business around this channel and ensure that artists get paid their due."

SNOCAP continues to partner with leading independent labels and aggregators and individual artists from across the globe. In addition, SNOCAP has already established a relationship with three of the largest major label groups, Sony BMG, Universal and EMI. These pacts further SNOCAP's commitment to offer the most extensive selection of content for consumers in the authorized digital music marketplace. SNOCAP's copyright management interface enables label partners and individual artists to set business rules for each track on an international scale.

For more information or for labels and artists to sign up and begin their registration process, please visit www.snocap.com.

About SNOCAP

Founded in September 2002, SNOCAP, Inc., based in San Francisco, offers record labels, publishers, and artists an end-to-end solution for digital licensing and copyright management services. Through SNOCAP, operators of authorized peer-to-peer services and online retailers will have access to the largest possible catalog of authorized content that has historically been available only on unauthorized services. SNOCAP provides digital music technology and services to Universal Music Group, SONY BMG MUSIC ENTERTAINMENT, EMI, Absolutely Kosher Records, Artemis Records/Sheridan Square Entertainment, Beggars Group, Digital Musicworks International, Dualtone, IDEA Distributors, I AM Music and Entertainment, Gammon Records, Independent Online Distribution Alliance, Kufala, Matador Records, Muse Wrapped Records, Streetbeat Records / Pandisc / Kriztal Entertainment, Nacional Records, Nettwerk Records, OM Records/Deep Concentration, One Little Indian, Psychobaby Reality Entertainment, Ryko Group, Six Degrees, SSDD, TVT Records, V2 Music, and XL Recordings. SNOCAP's easy-to-use service for registering digital content and managing online distribution will enable a more vibrant digital marketplace with better selection and a variety of compelling business models. SNOCAP's database will include current hits, new releases, live recordings, remixes, B-sides and out-of-print tracks culled from major labels, independent and unsigned artists. For more information, visit www.snocap.com.