SANTA MONICA, Calif. (Jan. 23, 2006) — An exceptional group of legendary music talents will honor multi-GRAMMY®-winning singer/songwriter James Taylor as the 2006 MusiCares Person of the YearSM in a gala tribute on Monday, Feb. 6, 2006, at the Los Angeles Convention Center. The evening will laud Taylor for his extraordinary musical achievements and his philanthropic commitment to arts, environmental and humanitarian causes, and will feature a special concert by music luminaries including: India.Arie, Jackson Browne, David Crosby, The Dixie Chicks, Dr. John, Carole King, Alison Krauss, Taj Mahal, Randy Newman, Bonnie Raitt, Paul Simon, Bruce Springsteen, Sting and Taylor himself. Now in its 16th year, the MusiCares® tribute dinner is one of the most prestigious events held during GRAMMY Week — a celebration that culminates with the 48th Annual GRAMMY Awards on Feb. 8, 2006. The telecast will be broadcast on the CBS Television Network at 8 p.m (ET/PT) from Los Angeles.

This landmark evening begins with a special reception and silent auction sponsored by AEG that offers an unparalleled range of luxury and one-of-a-kind items, including: an Ebony Gibson JR-200 Acoustic Electric Guitar signed by Paul Simon; "France's Finest — The Grand Tour of France" with Viking River Cruises; a Peter Max personal portrait and VIP meet and greet at Max's New York studio; three days and two nights aboard the world-famous Onassis yacht "Christina O" for 10 guests; a ladies 18 kt. ruby and diamond ring by Johnathon Arndt Gallery of Jewels and Tesoro diamond cufflinks by Jason of Beverly Hills. Proceeds from the annual Person of the Year tribute provide essential support for MusiCares' Financial Assistance Program, which ensures that music people have a place to turn in times of financial, medical and personal need.

"MusiCares and The Recording Academy® take great pride in honoring James Taylor as a musician and humanitarian who has made groundbreaking contributions to our culture and to the world at large," said Neil Portnow, President of the MusiCares Foundation and The Recording Academy. "James exemplifies a unique creative spirit and his dedication to a range of philanthropic causes serves as an example and an inspiration to our entire music community."

In response to the devastating effects of the 2005 hurricanes, The Recording Academy and the MusiCares Foundation established a multi-million dollar Hurricane Relief Fund to assist music people affected by the disasters. MusiCares is also helping people take their first steps back to making a living through "Music Rising," an initiative to raise funds to replace the instruments lost by the musicians of the Gulf Coast. Lead partners Gibson Guitars and the Guitar Center Music Foundation were joined by U2's the Edge, producer Bob Ezrin and many other music industry giants in committing to a goal of $2 million for the Music Rising campaign.

Established in 1989 by The Recording Academy, MusiCares provides a safety net of critical assistance for music people in times of need. MusiCares' services and resources cover a wide range of financial, medical and personal emergencies, and each case is treated with integrity and confidentiality. MusiCares also focuses the resources and attention of the music industry on human service issues that directly impact the health and welfare of the music community. For more information, please visit www.musicares.com.

Established in 1957, the National Academy of Recording Arts & Sciences, Inc., also known as The Recording Academy, is an organization of musicians, producers, engineers and recording professionals that is dedicated to improving the cultural condition and quality of life for music and its makers. Internationally known for the GRAMMY Awards, The Recording Academy is responsible for groundbreaking professional development, cultural enrichment, advocacy, education and human services programs — including the creation of the national public education campaign What's The Download® (www.WhatsTheDownload.com). For more information about The Academy, please visit www.grammy.com.

AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Corporation, owns or controls a collection of companies including facilities such as STAPLES Center, The Forum (as exclusive booking agent for sports and entertainment programming), Toyota Sports Center, NOKIA Theatre Times Square, NOKIA Theatre at Grand Prairie and London's Manchester Evening News Arena; sports franchises including the Los Angeles Kings (NHL), Manchester Monarchs (AHL), Reading Royals (ECHL), Chicago Fire, DC United, Los Angeles Galaxy, Metrostars and an unnamed Houston franchise (MLS), two hockey franchises operated in Europe, the Hammarby (Sweden) Futbol Club and management of shares of the Los Angeles Lakers (NBA) and Los Angeles Sparks (WNBA) owned by Philip Anschutz; AEG Marketing, a sponsorship, sales, naming rights and consulting company; AEG Merchandising, a multifaceted merchandising company; and AEG Creative, a full-service marketing and advertising agency.

For information on purchasing tables and tickets to the event, please contact Dana Tomarken at MusiCares, 310.392.3777.