EMI Group plc Entering into non-exclusive Discussions with AOL Time Warner Inc

London, England – In view of speculation in the weekend press, EMI Group plc announced today that it has now entered non-exclusive discussions with AOL Time Warner Inc. with regard to a possible transaction involving the recorded music division of the Warner Music Group.

Discussions are at a very preliminary stage and there is no assurance that they will result in an agreement acceptable to both parties. Any potential transaction would be subject to shareholder and regulatory approval.