The Island DEF JAM MUSIC Group Appoints Shawn "Jay-Z" Carter To President And CEO, DEF JAM Recordings

The Island Def Jam Music Group, a division of Universal Music Group, the world's leading music company, today announced Grammy Award-winning superstar Shawn "Jay-Z" Carter to President & CEO of Def Jam Recordings. The announcement was made today by Antonio "LA" Reid, Chairman of The Island Def Jam Music Group, to whom Jay-Z reports. In addition Jay-Z will continue to run Roc-A-Fella, which was recently purchased by IDJ. The appointment is effective January 3, 2005 and Jay-Z will be based at IDJ's New York headquarters.

"After ten years of successfully running Roc-A-Fella," said Mr. Reid, "Shawn has proven himself to be an astute businessman, in addition to the brilliant artistic talent that the world sees and hears. We are fortunate that he has agreed to take over as president & CEO of Def Jam Recordings. I can think of no one more relevant and credible in the hip-hop community to build upon Def Jam's fantastic legacy and move the company into its next groundbreaking era."

"I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella, said Mr. Carter. LA Reid and the Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community."

Since 1995, Jay-Z and his Roc-A-Fella artists have dominated the rap industry and set the trends for a generation. Not just with an extensive catalog and talented artists and producers, but with a profitable brand that spawned a clothing line (Rocawear), films (Fade to Black, Backstage, Streets Is Watching, State Property), a nightclub (40/40 Club) and a successful sneaker line (Reebok's S. Carter shoe collection). Moreover, Jay-Z has founded three philanthropic organizations, including The Shawn Carter Scholarship Fund, Team Roc, and the annual Jay-Z Santa Claus Toy Drive. With a string of multi-platinum albums, SRO concerts and more than 30 million albums sold worldwide on his Roc-A-Fella label, there are no thresholds that Shawn Carter has not crossed. That is what made his Grammy-nominated, The Black Album such a phenomenon -- a groundbreaking autobiographical statement that was not only one of the most important records of 2003/2004, but perhaps the most important record of Jay-Z's legendary career.