For Immediate Release

Washburn International Becomes U.S. Music Corp.

Chicago, Illinois, December 15, 2002 - Washburn International is pleased to announce the renaming of the corporation to that of U.S. Music Corporation. This is a result of the acquisition of the assets of U.S. Music Corporation inclusive of all of its intellectual properties and goodwill. As a result of that acquisition, the corporate name will be changed to U.S. Music Corp. beginning on January 1, 2003.

USM Logo.

Rudy Schlacher, CEO says” This acquisition gives us the opportunity to clearly separate the parent corporation from the name of its producing division Washburn Guitars. It also helps us to provide more equality and focus on our other producing divisions, which are helping to provide us with growth in revenues and excitement in the marketplace. Washburn Guitars, Randall Amplifiers, Vinci Strings and Accessories, SoundTech Professional Audio and Oscar Schmidt all have expansive positions and new focuses that require equality in brand recognition. U.S. Music is a great and esteemed name in the music business, and the fit is excellent as it owned Randall and Vinci prior to our acquisition”.

Additionally, we are pleased to announce the appointment of Garry Gryczan to the post of COO as part of the corporate change. Garry worked in the position of CFO in 1995 thru 1998. He has rejoined our management team after a hiatus, which included the Management of a home furnishings company in the position of COO. Garry has over 20 years of operations and finance management. Garry is an alumnus of the University of Chicago Graduate School of Business and holds an MBA in finance.

U.S. Music Corporation will proudly be displayed as the parent Corporation at the NAMM show in Anaheim in January 2003 at booth # 5244. Many exciting events and promotions are planned to help celebrate this momentous occasion.

CEO Rudy Schlacher with new COO Garry Gryczan .
CEO Rudy Schlacher with new COO Garry Gryczan

The U.S. Music Corp. headquarters is just north of Chicago in Mundelein, Illinois. A leading musical instrument manufacturer in the industry, U.S. Music Corp. is a manufacturer and distributor of Washburn Guitars, Randall Amplifiers, Oscar Schmidt Guitars, SoundTech Pro Audio Systems and Vinci Strings. U.S. Music Corp. is dedicated to providing quality instruments to guitar players and musicians worldwide, and at the same time, continuing its legacy through the 21st century.

For additional information about U.S. Music Corp., visit the company on the web at usmusiccorp.com or call 800.877.6863. USM is a leading manufacturer and distributor of fine musical instruments.

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2002 U.S. Music Corp.