Vene Music--Division of Venevision International-- Signs Worldwide Rights to New CD by Acclaimed Singer-Songwriter Juan Luis Guerra

CORAL GABLES, Fla.--(BUSINESS WIRE)--July 16, 2004--Venevision International has announced the acquisition, through its division Vene Music, of the worldwide distribution rights to the upcoming album by celebrated Dominican singer/songwriter/producer Juan Luis Guerra. The contract was signed in the Coral Gables, Florida, offices of the company, a division of the Cisneros Group of Companies, which is led by Venezuelan businessman and philanthropist Gustavo Cisneros. Present at the signing were Mr. Guerra; Luis Villanueva, President and CEO of Venevision International; and Bienvenido Rodriguez, President of Karen Records.

Since its founding less than a year ago, Vene Music has seen several of its productions reach the top of the Billboard sales chart. These include Boleros Eternos de Celia Cruz, and El Coyote y su Banda. In addition, the company has entered into distribution agreements with such multinational companies as Sony Latin and EMI Latin.

“I am confident that the dedication and hard work of Vene Music will enable me to reach my audiences with the best possible new production. I look forward to completing and distributing this new album, which represents a fresh musical proposal.”

Mr. Villanueva stated, "This agreement represents a new stage for Vene Music, broadening our scope through early involvement in talent development. Together with Juan Luis Guerra, we will continue to offer our audiences the best of Latin music. We are delighted to add such a prestigious artist to Vene Music's catalogue."

Juan Luis Guerra has achieved international success with such albums as Ojala que Llueva Cafe, Bachata Rosa, Areito, Fogarate and Ni es lo Mismo ni es Igual. Among his best-known songs are "La Bilirrubina," "Burbujas de Amor," "Ojala que Llueva Cafe," and "El Niagara en Bicicleta." He expressed his satisfaction with the agreement with Vene Music, commenting, "I am confident that the dedication and hard work of Vene Music will enable me to reach my audiences with the best possible new production. I look forward to completing and distributing this new album, which represents a fresh musical proposal."

Venevision International

Venevision International, the entertainment arm of the Cisneros Group of Companies, is a key element of the business-development strategy of Gustavo Cisneros, Chairman of the Cisneros Group. Venevision International distributes television programming internationally, and is one of the largest Spanish-language independent television production companies. The company also distributes Spanish-language films to movie theaters and for pay-per-view, home video, and both paid and free television. In addition, it produces Spanish-language plays at its own theater in Miami, Florida.