SOURCE: The AFA Music Group

October 17, 2007 08:31 ET

AFA Music Group Generates 2 Million Dollar Revenue for Artist Development as Stated on Wallst.net Interview

WHITE PLAINS, NY--(Marketwire - October 17, 2007) - AFA Music Group, Ltd. (PINKSHEETS: AFAO) is pleased to announce that the Company's CEO, Jon Goldwater, has been featured in an online interview with reporter Mike Chiavetta on Wallst.net. Mr. Goldwater spoke about AFA Music Group's current business strategy for generating revenue, and addressed the current turmoil of slumping album sales within the music industry.

In the interview with Wallst.net, Mr. Goldwater explained the current marketing and promotion of existing artists signed to AFA such as The Audio Club, Taxi Doll and others. Since inception, the Company has generated approximately 2 million dollars in revenue for artist development, recording, publishing and advances. Mr. Goldwater also touched on the Company's strategy to begin releasing artist related products under the AFA umbrella, taking advantage of both the domestic and international markets.

The Company currently operates two offices in the U.S., with one in New York and the other in Los Angeles. The L.A. office features a full, state-of-the-art recording studio and a rehearsal facility that reduces overhead costs for the outsourcing of recording and rehearsal services. Over the last 18 months, AFA has conducted business with several major music labels including Universal, Warner Bros. and EMI.

"We have been able to manage AFA Music Group's overhead and find a diverse group of core talent. We believe we have an incredible opportunity to tap into the music industry's global market, creating an unlimited revenue stream for AFA," stated Jon Goldwater, CEO of AFA Music Group, Ltd.

To listen to the interview please visit: http://www.wallst.net/audio/audio.asp?ticker=AFAO&id=4006.

AFA Music Group recently announced that the lead singer of its recording artist, The Audio Club, Ashley Alan-Lee, has been featured in the most recent issue of Spin Magazine. The Audio Club includes rapper/producer Brooks Buford, lead singer Ashley Alan-Lee and producer, singer/songwriter Tommy Henriksen.

About AFA Music Group, Ltd.:

AFA "Artists for Artists" is a talent development and management agency. Since being founded in 2005, and based on its philosophy, AFA has attracted a roster of 10 "major-quality" recording artists. AFA Music Group plans on simultaneously acquiring various music-publishing assets and to begin developing its own catalogue of artists and albums. AFA retains equity positions with all of its artists, which include all income streams that are generated by these artists. These income streams include recording royalties, merchandise, sponsorship, touring, music publishing, Internet downloads and ringtones.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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