Sony Music to take most extensive Cuban music catalogue global

PRESS RELEASE:

The Havana-based Enterprise of Recordings and Musical Editions (known by its Spanish initials EGREM) and Sony Music Entertainment are pleased to announce that as ofSeptember 15, 2015, they have entered into a licensing agreement for the international distribution of EGREM's catalog of Cuban music.

The exclusive multi-year agreement encompasses audio and audiovisual recordings produced by EGREM since the 1960s. This constitutes the most extensive catalog of Cuban music in the world. It includes recordings by such artists as Bola de Nieve,Elena Burke,Ibrahim Ferrer (pictured), Compay Segundo,Celina Gonzalez,Cesar Portillo de la LuzandGuillermo Rubalcaba. The catalog also contains recordings by the musical groups Aragon, Irakere and Los Van Van, including their most recent albumLa Fantasia, A Tribute to Juan Formell.

The agreement was announced today at a signing event in the heart of Old Havana at Areito Studio 101, the famed recording studio that has been used byCuba'smost legendary artists, along with international recording greats, since the 1940s.

Mario Angel Escalona Serrano, Managing Director of EGREM, said: "We see these agreements as an opportunity for the joint management of our catalog over the coming years. The leadership of EGREM, together with Sony Music's, represents the best way to give new momentum to the worldwide distribution of Cuban music."

Doug Morris, CEO, Sony Music Entertainment said, "We are delighted to be partnering with EGREM to share for the first time one of the largest and most acclaimed catalogs of Cuban music with fans across the globe. This landmark agreement will help expand international awareness and appreciation of Cuban culture,Cuba'srich musical heritage and its many wonderful artists."

Edgar Berger, Chairman and CEO, International, of SONY MUSIC, noted, "Sony Music is honored to bring this iconic music —representing over five decades of Cuban culture — to all corners of the world. This very special project has been almost two years in the making and today becomes a reality. We are thrilled to introduce these extremely talented artists to the global audience they so richly deserve."

Afo Verde, Chairman and CEO,Latin America,SpainandPortugal, of Sony Music, said,"We are very grateful that EGREM has entrusted our company with this amazing project. We are working on the release of this treasure of Cuban music so it will be available on all possible music and video platforms for music lovers to enjoy as soon as possible."

Sony Music has entered into the transaction with EGREM pursuant to the "informational materials" exemption under US sanction rules forCubaadministered by the Office‎ of Foreign Assets Control ("OFAC"). This exception applies to music and other works of art, and is intended to promote the free movement of information and artistic expression by the Cuban people.