SOURCE: SMC Recordings Inc.

February 02, 2010 16:25 ET

SMC Recordings Inc. Appoints David Newberg as Chief Financial Officer

Former Executive at Rhino Entertainment/Warner Music Group, EMI to Build Upon SMC Recording's Financial Success

SAN FRANCISCO, CA--(Marketwire - February 2, 2010) - Burgeoning San Francisco based SMC Recordings Inc. (PINKSHEETS: SMCE) brings on industry veteran David Newberg as their new Chief Financial Officer. Newberg brings over twenty years of financial acumen from successful music and media properties such as EMI/Priority Records, WMG/Rhino Entertainment, Live Universe, and maniaTV. This is just one of the many exciting announcements the leading indie label has in store for this year.

In addition to helping SMC Recordings explore additional revenue streams and partnerships, Newberg will oversee execution of the profitability and expansion strategy implemented by CEO Ralph Tashjian. "David brings experience on multiple levels to SMC, as we forge ahead to seize the current opportunities in our business. The financial expertise he possesses will greatly augment SMC's future success," said Tashjian.

David Newberg's wealth of experience includes his time as VP of Finance at Rhino Entertainment, a subsidiary of Warner Music where he directed company accounting for all business units, maintaining revenue which grew to 500 million globally. He served as Chief Financial Officer of Live Universe Inc., a start up company that owns over 40 social/music media, websites, where he was responsible for directing all company accounting, finance, and human resource functions. Previous to that he was Chief Financial Officer of Delta Entertainment Corporation, a self-distributing mid-sized entertainment company that wholesales audio and video products.

SMC's strong new media platform has positioned the company as a leading competitor in the market, continuing to expand in the ever-changing digital world. "The music industry has changed significantly, allowing indie labels the opportunity to reemerge and compete with the majors," Newberg shared. "I wanted to join the SMC team because they have created such a smart and profitable business model. This is a company that has had a slew of major successes and is truly on the verge of exploding into the market. I see great things ahead and I am excited to be a part of it."

About SMC Recordings:

Established in March of 2005, SMC Recordings is home to independent music and artists. Based in San Francisco, CA, the company's prized accomplishment is its unique philosophy of artist development, where artists are encouraged to participate with the label from inception through maintenance of their careers. This innovative structure has garnered industry veterans to join the company and aid in its growth. SMC is distributed by Fontana, the indie distribution subsidiary of Universal. It is SMC's humble regional beginnings and loyalty to their artists and their careers that will guarantee the company to always be on the precipice of creativity and expansion in the music game.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

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