226 Records, Inc. Changes Name to 226 Music Group, Inc.DALLAS -- 226 Music Group, Inc. (Pink Sheets:TTMG) announced that on May 31, 2005 the company changed its name from 226 Records, Inc. to the new name of 226 Music Group, Inc. and the symbol subsequently changed from (Pink Sheets:TTWY) to the new symbol (Pink Sheets:TTMG). 226 has now added a management division and internet technology division to the existing infrastructure with the intent of creating additional revenue streams for the company. "When 226 Records began, we were just a record label selling CDs," states president/CEO Paul Bassman. "226 has grown to be so much more that we felt the name change to 226 Music Group would better reflect those changes and the direction the company is headed." About the record business in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the RIAA (Recording Industry Association of America, Washington, DC, www.riaa.com) A membership association of music recording companies. Its goal is to promote the record label industry and protect the rights of copyright owners. It was a major contributor to the SDMI digital distribution system. in 2003, the US record industry sold over 11 billion in CDs. Rock music accounts for over 25% of sales, far and away the largest segment of recorded music recorded music n → música grabada market. In 2004 Independent labels, according to Billboard Magazine, accounted for 15.8 percent of current CD sales up from 14.3 percent in 2003. About 226 Music Group, Inc. 226 Music Group, Inc. is a multi-faceted entertainment company encompassing a traditional independent record label, artist management company and on-line division providing music and entertainment over the Internet. 226 Records is an independent record label that produces, licenses, acquires, promotes and distributes high quality recorded music for a variety of formats. 226 Music Group specializes in developing, utilizing and marketing technology systems to deliver music in a digital format to the end consumer in an expeditious ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex and cost effective manner. These two divisions of 226 will be integrated to accommodate the rapidly changing methods of promoting and delivering music for the consumer market. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward- looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, demand for sensors
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