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EMI Group PLC (EMI)

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Thursday 14 December, 2006

EMI Group PLC

Statement re TOEMI

EMI Group PLC
13 December 2006


Acquisition by EMI Group of Toshiba Corporation's minority shareholding in
Toshiba-EMI Limited


London, 13 December 2006


EMI Group plc ("EMI") announces that it has entered into an unconditional
agreement with Toshiba Corporation ("Toshiba"), whereby a wholly-owned
subsidiary of EMI will acquire Toshiba's 45 per cent shareholding in Toshiba-EMI
Limited ("TOEMI"), a company in which EMI Group currently has a 55 per cent
shareholding.


The total cash consideration payable on completion by EMI Group to Toshiba for
its 45 per cent shareholding is JPY 21,000 million (approximately £93 million)
(1). Following completion of the acquisition, EMI Group will own 100 per cent of
the shares in TOEMI. The agreement is expected to be completed in the second
quarter of calendar year 2007, or earlier if Toshiba exercises an early
completion option.


TOEMI is one of Japan's leading music companies, whose artists include GLAY,
Kyosuke Himuro, Tomoyasu Hotei, Yumi Matsutoya, Sheena Ringo, Utada Hikaru and
Eikichi Yazawa.


For the year ended 31 March 2006, TOEMI reported profits before tax under
Japanese GAAP of Yen 790 million, and underlying profits before tax under IFRS
were £11.6 million(2). TOEMI's gross assets as at 31 March 2006 under Japanese
GAAP were £141.2 million(3).


TOEMI has been a successful joint venture partnership between EMI and Toshiba
that has produced many great artists over the last decades. Both EMI and Toshiba
believe it is the right time to unify the ownership structure of TOEMI. EMI
remains strongly committed to the Japanese music market and its operations
there.



Enquiries


EMI Group plc
Amanda Conroy     Corporate Communications             +44 20 7795 7529
Susie Bell        Investor Relations                   +44 20 7795 7971


Brunswick Group LLP
Patrick Handley                                        +44 20 7404 5959



Toshiba Corporation
Keisuke Ohmori      Corporate Communications           +81 3 3457 2105



Notes:

1 Exchange rate used: Yen to £1=225 (approximate forward rate)

2 Exchange rate used: Yen to £1=203.69 (average exchange rate for year ended 31
March 2006)

3 Exchange rate used: Yen to £1=204.66 (year end exchange rate 31 March 2006)




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