Official Release – EMI Responds To Fifield

EMI Group plc (“EMI” or the “Company”) notes the announcement made earlier today by Mr Jim Fifield that he does not intend to make an offer for EMI.

The announcement by Mr Fifield suggested that his withdrawal was as a result of the timetable constraint imposed by the Panel, namely that he had to clarify his position by 12 noon on 19 July.

The Board of EMI has serious doubts about that suggestion and the credibility of any possible offer.

·         The current offer period in relation to EMI began on 20 February 2007.

·         On 4 May EMI confirmed it had received a number of indications of interest.

·         Subsequently several potential bidders participated in a due diligence process which commenced in early May and lasted several weeks.

·         Mr Fifield did not participate in such process nor did he or his financiers seek to participate.

·         At no stage has Mr Fifield made any proposal regarding a possible offer for EMI.

·         Until 17 July 2007, Mr Fifield has not made any contact with EMI since the announcement of Mr Fifield’s interest on 25 May 2007.

·         The Panel ruling on 17 July is consistent with Rule 19.3 of the City Code on Takeovers and Mergers and the Panel’s historical practice, as any potential bidder and its advisers should be aware.

Accordingly, the Board of Directors of EMI, which has been so advised by Greenhill, continues to consider the terms of the Offer made by Maltby Limited, a company formed at the direction of Terra Firma, to be fair and reasonable. In providing advice to the Board of Directors of EMI, Greenhill has taken into account the commercial assessments of the Directors of EMI.

The Board of Directors of EMI continues to recommend unanimously that EMI Shareholders accept the Offer, as the Directors have already done in respect of their own beneficial holdings of 1,086,832 EMI Shares, representing approximately 0.13 per cent. of the existing issued ordinary share capital of EMI.

EMI Shareholders are encouraged to accept the Offer as soon as possible and no later than 1.00 p.m. (London time) on the closing date of 19 July 2007.

For EMI Shares in certificated form, to accept the Offer, Forms of Acceptance not yet returned should be completed, signed and returned in accordance with the instructions set out in the Offer Document and on the Form of Acceptance, so as to be received by Lloyds TSB Registrars at Princess House, 1 Suffolk Lane, London EC4R 0AX as soon as possible and, in any event, no later than 1.00 p.m. (London time) on 19 July 2007.