SOURCE: Nashville Records, Inc.

July 08, 2008 09:34 ET

Nashville Records Announces New President and CEO

Provides Update on Dividends for Shareholders

NASHVILLE, TN--(Marketwire - July 8, 2008) - Nashville Records, Inc. (PINKSHEETS: NSHV) is pleased to announce the appointment of Edward E. Winders, Ph.D. as its new President & Chief Executive Officer (CEO). Nashville Records™ (NRI) current President, Gene Sibbett will remain as Chairman of the Board of Directors. "This is a day I have been looking forward to since the Company's inception -- the naming of a well-qualified CEO, and putting myself back in the creative mode where I belong," commented Mr. Sibbett.

Dr. Winders brings to the company more than 35 years of comprehensive high-level experience in design, development and implementation of strategic business plans, public policy initiatives, administrative programs and procedures. He's a recognized expert in new business development, and in strengthening and expanding business operations. He served as Chair of John J. Kassner Inc., a 75-year-old metropolitan New York-based engineering/architectural firm, Corporate Senior Vice President of Bettigole, Andrews, & Clarke, a Division of Thermo Electron (a Fortune 500 company) and Chair Emeritus of Liro-Kassner, a 350 person engineering and architectural firm that focuses on design, construction management and inspection services. For the past ten years, Dr. Winders has been President of Transnational Public Policy Advisors, LLC, an international developmental firm that has provided training and technical assistance in more than 15 transitional countries throughout the world, focusing on leadership development, coalition building, civil society development, micro-enterprise and small business initiatives.

Dr. Winders emphasized: "Gene has assembled a highly qualified team, which will be of tremendous benefit, as we expand and strengthen the company's efforts to become a leader in the industry. Our goal as well is to attract outside groups and individuals into the Nashville Records orbit -- thereby broadening our base of support and participation."

According to Mr. Sibbett, "We kicked around the idea of finding a CEO that was skilled in the music industry but ultimately decided that we needed someone with significant management, marketing and strategic planning experience -- the kind of experience that crosses industries. Dr. Winders provides the answer in moving the Company forward in a public market."

Sibbett commented that recent events; a death in his immediate family, management negotiations, and a tender offer to buy Nashville Records, had delayed a scheduled public announcement concerning the planned dividends to be given to shareholders. Formal arrangements between Nashville Records and the firm interested in buying the company required that no press statements on Nashville Records activities be issued during the negotiations period. Even though the Company making the offer is a multi-million dollar firm, NRI ultimately declined the offer. Dr. Winders commented, "While the offer would have provided a cash settlement that financially benefited Mr. Sibbett and the founders, Nashville Records principals felt it would have had a negative impact on the investor base in the longer view. This became the sole deciding factor. Clearly, the company leaders, in making this decision, were more concerned with seeing investors profit from the Company's future plans than with their own short-term profitability."

Mr. Sibbett reconfirmed his commitment that shareholders of record as of July 15, 2008 will be given dividends at a rate of one (1) share for every ten (10) shares owned. As of April 1, 2008, 500 million shares of NRI stock have been authorized, with 212 million held by insiders, and roughly 87 million shares in the float. The dividend disbursements will be made in three installments, each 90 days apart.

For financial reasons, the company has decided to change transfer agents, making it difficult to specify at this time an exact date on which the first distribution will be made. NRI expects, however, for it to be on or before August 31, 2008. A public announcement will be made once the timetable and disbursement amounts are finalized.

Dr. Winders concluded: "In affirming that the dividends will be given as promised, Mr. Sibbett is clearly demonstrating the collective commitment of Nashville Records management toward those individuals who have been loyal to the company. As the new President and CEO, I believe this reflects the dedication of Nashville Records to its stockholders, its open and responsible business approach, and to future growth."

Nashville Records, Inc. is a Nashville-based music label involved in producing, marketing, and distributing recorded country and gospel music. Its founders are also involved in a development stage company known as TriMark, Inc. established to address the multi-billion dollar piracy problem that exists in the music and movie industries, by developing a specialized anti-piracy system.

Legal Notice Regarding Forward-Looking Statements

The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This information may contain statements that involve risk and uncertainties and are subject to change at any time. Further, the Company's actual results may differ materially from expected results.

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