Recording

Sennheiser, TL Audio End Agreement

Sennheiser Electronic Corporation and TL Audio have terminated their distribution agreement, effective January 1, 2004. While Sennheiser will continue 1/13/2004 7:00 AM Eastern

Sennheiser Electronic Corporation and TL Audio have terminated their distribution agreement, effective January 1, 2004. While Sennheiser will continue to take orders on its existing limited inventory of TL Audio products, customer inquiries should be addressed directly to TL Audio at www.tlaudio.co.uk until the company names a new U.S. distribution partner.

Sennheiser and TL Audio executives concluded that the task of implementing a full-scale marketing program in the United States at this time would require a more robust level of sales and distribution support than had been anticipated.

This decision will enable TL Audio to pursue a distribution partner more in line with their aggressive sales goals, while allowing Sennheiser to focus on other ongoing initiatives. The decision was based solely on marketing and distribution issues and was not related in any way to the company's products, cultures or personnel.