Marquee Group and SFX Announce Exchange Ratio for Merger.

NEW YORK--(BUSINESS WIRE)--March 10, 1999--The Marquee Group, Inc. (AMEX: MRT) and SFX Entertainment, Inc. (NASDAQ: SFXE) today jointly announced that they anticipate that the closing of Marquee's merger into SFX will occur immediately following the meeting of Marquee's shareholders on March 16, 1999 if the holders of a majority of the outstanding shares vote for adoption of the merger agreement and the merger. As of today, Marquee has received revocable proxies in an amount sufficient to approve the merger if such proxies are not withdrawn.

Accordingly, the 15 trading day pricing period for determining the price of SFX Class A common stock to be used in the calculation of the exchange ratio ended Tuesday, March 9, 1999. If the transaction closes as anticipated on March 16th, the exchange ratio will be 0.0815, and thus each Marquee share will be converted into the right to receive 0.0815 shares of SFX Class A common stock. In such case, any future activity in the price of the stock of SFX or Marquee will have no effect on the number of SFX shares to be received by Marquee shareholders in the merger. Upon completion of the merger as contemplated, SFX will issue to Marquee stockholders approximately 1.5 million shares of SFX Class A common stock in exchange for their shares of Marquee stock, not including any options or warrants of Marquee.