Isley Brothers "Shout" as Pullman Bond Deal Successfully Closes; the Pullman Group Finalizes Isley Pullman Bond Music Royalty Securitization With Legendary Hitmaking Isley Brothers Family.

Business & Entertainment/Music Editors

NEW YORK--(BUSINESS WIRE)--June 22, 2000

This week, David Pullman proudly announces the completion of another eight figure Pullman Bond(TM) music royalty securitization with Rudolph Isley, Ronald Isley and the estate of O'Kelley Isley.

This completed Isley Brothers deal with The Pullman Group(R), LLC joins the famous series of Pullman Bonds(TM) which include the $55 million Bowie Bonds(TM), Holland Dozier Holland (Motown Hitmachine) Bonds, Ashford & Simpson Bonds and James Brown Bonds. The Isley Brothers' massive catalog includes over 50 Billboard hits includes classics like "Shout," "Twist & Shout," "It's Your Thing," and "Fight The Power," and the group is highly respected for pioneering the ownership of record labels by black artists. There are over 300 songs in the Isley catalog. The Isley Pullman Bond(TM) transaction was rated at the single A level by two nationally recognized rating agencies.

Rudolph Isley and Ronald Isley are the founders, creators and 100% owners of the Isley Brothers catalogue and co-owners of the estate of O'Kelley Isley, the third founder and equal member of their companies Three Boys Music Corp. and Triple Three Music.

"Never have I seen such a bond among brothers as between Rudolph and Ronald Isley who for six decades as hitmakers have proven over and over they stick together through thick and thin. Their bond is unbreakable," notes David Pullman, Founder, Chairman and CEO of The Pullman Group(R), LLC.

"David Pullman and The Pullman Group embody the hit song we wrote, Fight The Power," stated Rudolph and Ronald Isley, co-chairmen and lead singers of the Isley Brothers.

Last September, The Pullman Group, LLC announced the exclusive signing of Rudolph and Ronald Isley and their Isley Brothers catalog, putting the Isley Brothers next in line for a Pullman Bond music royalty securitization. Not long after, a number of obstacles surfaced which included a bidding war organized by singer Michael Bolton and a lawsuit launched by EMI Music Publishing who wished to buy the catalogue. The Isley and Pullman team also won an approximately $7 million copyright infringement case against Michael Bolton for "Love is a Wonderful Thing," an Isley hit song from the 60's. Intent on overcoming these odds, The Pullman Group persevered and tackled every issue to complete the transaction today.

A Pullman Bond(TM) music royalty securitization is a financing of artist and publishing royalties which allows the original owner to keep 100% ownership of the assets which are financed. A securitization is not a sale of such assets and therefore is not a taxable event. The Pullman Group(R) developed these deals to empower artists and creators of entertainment and intellectual property.

"Just this year alone, the Isley Brothers catalog has shown its incredible value and relevance with the hit "Who's That Lady" appearing in the Oscar winning "Boys Don't Cry" plus songs like "It's Your Thing" and "Shout" heard everywhere in movies and TV commercials," said Pullman.

Since the 50's, the Isley Brothers have been a musical institution whose prolific career has explored the musical intersection of gospel, R&B, rock, soul, funk and disco. Having been a family-based group since their inception, the Isley Brothers originated with four gospel-singing brothers: Ronald, O'Kelly, Rudolph and Vernon (the last of who was killed in a bike accident in 1955). The three surviving brothers left their hometown of Cincinnati in 1957 for New York City, where they recorded several songs for small labels. Their breakthrough came with their fervent recording of "Shout." The period 1959-1962 yielded such staples of the rock and soul canon as "Respectable," "Nobody But Me" and "Twist and Shout." Throughout the Sixties, the Isleys recorded for a variety of labels, including RCA, Atlantic, Scepter/Wand, United Artists, their own T-Neck and Motown's Tamla subsidiary. Their brief stay at Motown yielded the melodic soul classic "This Old Heart of Mine," written and produced by the Motown production team of Holland-Dozier-Holland (who completed a deal with David Pullman in 1998.)

In 1969, The Isleys re-established their own label, T-Neck (named for their home base of Teaneck, New Jersey). Now, with the addition of three younger family members: brothers Ernie and Marvin and cousin Chris Jasper, they immediately yielded the biggest hit of their career, "It's Your Thing," which won a Grammy for Best R&B Vocal Performance. This marked the start of a period in which they dominated the black-music realm, placing a staggering fifty singles on the R&B chart between 1969 and 1988.

Throughout the Seventies, The Isleys up their R&B grooves on rock songs such as Seals and Crofts' "Summer Breeze" and Stephen Stills' "Love the One You're With." The group also connected with originals such as the unrelenting, funky "Fight the Power," "The Pride," "Take Me to the Next Phase" and "I Wanna Be With You" - all of them No. 1 R&B hits. Following the signing with Warner Brothers in 1985, O'Kelly died tragically from a sudden heart attack. Since then the other Isleys have enjoyed solo careers and were inducted in to the Rock n' Roll Hall of Fame in 1992 for their innovation work in the pop, R&B and rock genres.

The Pullman Group(R), LLC as principal, specializes in financing and securitizing music publishing, writer's share, record masters, artist and record royalties, film and television libraries, TV syndication, literary estates and other entertainment royalties. David Pullman, Founder, Chairman and CEO of The Pullman Group, still remains the only financial professional who has ever completed such groundbreaking deals based on future entertainment royalties Pullman Bonds and has 100% market share. As creator of all Pullman Bonds(TM), his asset backed securitization deals include the famous $55 million Bowie Bonds transaction, the $30 million deal with Holland Dozier Holland (Motown Hit Machine) an eight figure deal with R&B greats Ashford & Simpson and the $30 million deal with "Godfather of Soul" James Brown. The Pullman Group's experience includes well over $1 billion in transactions through 2000. The Group's website is www.pullmanco.com.