Guitar Center & Fender(R) Joined Forces to Sell Out 185 Tribute Series Eric Clapton BLACKIE(R) Stratocaster(R) Guitars in Only 7 Hours on Black Friday.

WESTLAKE VILLAGE, Calif. -- Guitar Center, Inc. (Nasdaq:GTRC), America's leading musical instrument and professional audio retailer, today announced that 185 meticulously crafted recreations of the Fender[R] Stratocaster[R] guitar, once owned by Eric Clapton and known as BLACKIE([R]), sold out in approximately 7 hours on "Black Friday."

The 185 guitars earmarked for the U.S. market were offered for sale starting Friday, November 24, 2006 at precisely 10 a.m. EST, 9 a.m. CST, 8 a.m. MST and 7 a.m. PST, and were sold strictly on a first come, first served basis through Guitar Center's more than 195 U.S. retail locations. Within the first two minutes, 106 of the Tribute Series BLACKIE([R]) Stratocaster guitars had been sold to eager aficionados, each at a price of $20,000. In just over 7 hours, the remaining guitars were completely sold.

A significant portion of the proceeds will benefit Eric Clapton's Crossroads Centre in Antigua, an internationally recognized treatment center for addiction, founded by Clapton.

"I am delighted to hear that the replica of BLACKIE([R]), which was a guitar very special to me, has proved to be such a success and that the project will help support The Crossroads Centre, Antigua and in particular the new transitional living facility that Crossroads is in the process of acquiring in Delray Beach, Florida," said Eric Clapton.

Guitar Center's Vice President of Merchandising, Guitar Division, Keith Brawley, stated "Everyone at Guitar Center is extremely proud of our association with Eric Clapton and Fender([R]) and we're excited for all the players and collectors who will enjoy these incredible instruments. We are very pleased with the success of this limited edition sales event at our Guitar Center stores kicking off the holiday season. We are equally delighted our efforts will additionally result in a charitable donation to support the Crossroads Centre."

Commenting on the success of BLACKIE([R]) project, Alan Waite, Sr. V.P. Sales - USA & Canada for Fender Musical Instruments stated, "Without the creative genius of Eric Clapton, the extraordinary commitment of Guitar Center, and the dedication of the people at Fender, this historic occasion could not have happened."

BLACKIE([R]), a mid-1950s Fender Stratocaster([R]) guitar pieced together by Clapton himself from numerous individual Fender guitars, was Clapton's main instrument throughout the 1970s and '80s. Clapton's albums 461 Ocean Boulevard, Slowhand, No Reason to Cry and Just One Night, among others, were all recorded with BLACKIE([R]). In addition to memorable solo tours, Clapton and BLACKIE([R]) shared the stage with the likes of Pete Townshend, the Rolling Stones, Bob Dylan, Muddy Waters and The Band.

Purchased by Guitar Center as one of four classic Clapton-owned guitars at an historic Christie's auction, this rock & roll icon was brought by the Company to Fender's renowned Custom Shop in Corona, California, where Fender's experienced Master Builders meticulously replicated BLACKIE([R]) down to the smallest of details Co from the worn-to-the-wood body, to the neck re-shaped by Eric's hand as he played a thousand heartfelt solos, to the unmistakable cigarette burns on the headstock. Their precision extended to reproducing the legendary distressed #50 "Duck Bros" road case complete with stenciled London phone number 01 486 8056 and artificially aging the finish to ensure an authentic vintage look. Clapton himself approved this incredible accomplishment, as indicated on a Certificate of Authenticity personally signed by Eric Clapton himself.

About Guitar Center

Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates more than 195 Guitar Center stores across the United States. In addition, our Music & Arts division operates more than 90 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and website, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com.

The Guitar Center logo is a registered trademark of Guitar Center, Inc. Other brand or product names may be trademarks of the respective companies with which they are associated.

About Fender Musical Instruments Corporation 

Fender Musical Instruments Corporation (FMIC) is the world's foremost manufacturer of guitars, amplifiers, and related equipment. Since 1946, the name Fender([R]) has become synonymous with all things rock 'n' roll: from Buddy Holly to Jimi Hendrix to Eric Clapton to Kurt Cobain and everything in between. Fender's iconic instruments such as the Telecaster[R], Stratocaster[R], Precision Bass[R] and Jazz Bass[R] guitars are known the world over as the instruments that started the rock revolution, and they continue to be highly prized among today's hottest guitarists and collectors alike. FMIC markets using the brand names Fender[R], Squier[R], Guild[R], Gretsch[R], Jackson[R], Charvel[R], SWR[R], Tacoma[R], Olympia[R] and Brand X[R]. More information on FMIC can be found by visiting the Company's web site at www.fender.com.