CHANGE IN THE OWNERSHIP OF GIBSON MED DISTRIBUTION UNIT

Change in ownership calls for direct distribution of Gibson Guitar products throughout Italy, France, Spain, Portugal, Greece, Turkey, Malta, and Cyprus

IMMEDIATE RELEASE.....MILAN, ITALY, February 7th, 2005

Gibson Europe and Monzino have announced a transition to full ownership of Gibson Med, Gibson Guitar's distribution unit servicing Italy, France, Spain, Portugal, Greece, Turkey, Malta, and Cyprus. Gibson Med, located in Milan, Italy .  

The current fast-paced growth of Gibson Europe and demand for product in the Mediterranean territories called for direct distribution by the musical instrument manufacturer. Gibson Europe will now deal directly with dealers on all products offered in the musical giant's family of brands.

"Our new role in the operation of Gibson Med will give dealers a more direct contact with our European headquarters in Vianen," said Henry Juszkiewicz, Chairman and CEO of Gibson Guitar Corp. "This will allow us more direct contact with distributors and increased efficiency."

"New projects within the Monzino Group required my return to full time activity in the music publishing and musical instrument distribution arm of the company," said Antonio Monzino Jr. "I would like to thank Lorenzo Aramini, who has worked very hard in the last two years building up Gibson Med's team of professionals." 

Distribution arms in the United Kingdom (Rosetti), M & T (Germany and Austria), Luthman (Scandinavia), and other valued distributors in the EU remain strong partnerships with Gibson Europe. Jan Van Gils has been appointed General Manager of the former Gibson Med unit and is based in Gibson Europe's headquarters in Vianen, The Netherlands.

Gibson Europe is the centralized sales, marketing and distribution center for Gibson Guitar's world-famous musical instruments. Located in Vianen, The Netherlands, Gibson Europe provides the connection between Gibson's corporate headquarters in the US and Gibson's distributor-partners in continental Europe, the U.K., Scandinavia and the Mediterranean. Gibson is known worldwide for producing classic models in every major style of fretted instrument including acoustic and electric guitars, mandolins and banjos. Gibson Guitar Corp.'s family of brands now includes Epiphone, Dobro, Kramer, Steinberger, Tobias, Valley Arts, Slingerland, Maestro, Baldwin, Hamilton and Wurlitzer. Visit Gibson's website at www.gibson.com

QUALITY   PRESTIGE   INNOVATION

Contacts:

Silvia Kleton   Gibson Europe  +31 347 324 021 silvia.kleton@gibson.com

Caroline Galloway     Gibson (440) 338-3469 U.S. caroline.galloway@gibson.com

Walter Carter  Gibson 615-871-4500  walter.carter@gibson.com