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Washburn International Changing Name to US Music Corporation

Dec 14, 2002

Washburn International has announced the renaming of the corporation to that of US Music Corporation. This is a result of the acquisition of the assets of US Music Corporation inclusive of all of its intellectual properties and goodwill. As a result of that acquisition, the corporate name will be changed to US Music Corp. beginning on January 1, 2003.

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. US 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, the company announced 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 the 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.

The US Music Corp. headquarters is just north of Chicago in Mundelein, Illinois. US Music Corp. is a manufacturer and distributor of Washburn Guitars, Randall Amplifiers, Oscar Schmidt Guitars, Sound Tech Pro-Audio Systems, and Vinci Strings.

For more information, visit their web site at www.washburn.com.
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