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THE LEADING PUBLISHER OF SPIRITUAL AND SELF-HELP AUDIO BOOKS, TO EXPAND SALES AT RETAIL AND ON THE INTERNET LOS ANGELES, June 16, 1999 - NewStar Media Inc. (Nasdaq:NWST), a diversified entertainment company, today announced as its first step in its acquisition program, the purchase of Audio Literature, a publisher of a wide range of audio books including the best selling Conversations with God series by Neale Donald Walsch, and the perennial bestseller What Color is Your Parachute. Audio Literature's list will now be sold by Publishers Group West ("PGW"), one of the industry's leading book distributors, and will be PGW's lead audio line. Audio Literature's award-winning product line significantly enhances NewStar's broad array of intellectual property, and complements NewStar's recently launched website, (http://www.AudioUniverse.com) which established NewStar as a leading marketer of audiobooks on the Internet. The acquisition is part of NewStar's growth strategy which includes acquiring audio book companies with a leading presence in lines of specific-interest audios. "The combined NewStar and Audio Literature collection offers the most complete and appealing line of recorded spiritual and self-help intellectual property available. With the tremendous demand for such content on the Internet and at retail, especially as we head toward the new millennium, this acquisition fits beautifully into our plan to greatly expand our overall presence," said Peter H. Engel, the President of NewStar Publishing and Internet Services. "Because the Internet model for e-commerce success requires both a feeling of community, and also unique and proprietary content, this acquisition represents an important step in our Internet strategy of reaching niche groups," said Howard Cohl, Executive Vice President of NewStar Publishing and Internet Services. John Hunt, President of Audio Literature, who will continue to supervise the Audio Literature line of products for NewStar, said, "The new management team at NewStar has begun to implement the kinds of strategies which we believe will bring the audio book industry to its next level of growth. With PGW and NewStar behind us, we can undertake a very aggressive acquisition policy. We couldn't be more enthusiastic about Audio Literature's prospects." NewStar is a diversified entertainment company engaged in the publication and distribution of audio and printed books and the production and distribution of television programming. This release contains statements relating to future results of the Company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to, changes in political and economic conditions, demand for and market acceptance of new and existing products, as well as other risks and uncertainties detailed from time to time in the filings of the Company with the Securities and Exchange Commission.
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