Mosaic Media Group Launches New Record Label Pat's Record Company; to be Headed by Mosaic's Magnarella

Veteran Music Manager Establishes Pat's Record Company; Universal Records to Distribute

Los Angeles, July 12 /PRNewswire/ - Mosaic Media Group announced today the formation of a new record label to be known as Pat's Record Company a newly formed entity under the Mosaic Media Group umbrella of companies to be run by Mosaic principal Pat Magnarella. This deal will also include an exclusive two-year distribution deal with Universal Records. The deal was developed by Magnarella, President of Universal Records Monte Lipman, and Universal Records Senior Vice President Avery Lipman.

Pat's Record Company will first release alternative rock band Number One Fan's album "Compromises" on August 3rd. Number One Fan is headed by brothers Nick and Michael Ziemann and includes guitarist Matthew Reetz and drummer Jonathan Fries. Number One Fan will be playing this summer's Vans Warped Tour. The band was signed by the label's A&R executive Chris Allen. The second album the newly formed company will release is from an alternative rock band from Ventura, California, From Satellite to be released fall 2004.

"I am thrilled to be able to introduce a new generation of musical artists with this new label. The team at Universal has been incredibly encouraging and we all believe that with Number One Fan and From Satellite we are off to a great start. Response has been amazing to both bands," stated Magnarella.

"Pat's remarkable achievements over the past decade define creative leadership at its very best," stated Monte Lipman, President of Universal Records. "His determination, talent and passion for music have not only defined his extraordinary career, but have given form to the careers of many artists. We are thrilled to be working with him on this exciting new venture and have no doubt that together, we will make a formidable and very successful team."

"This is really a perfect fit for us," added Avery Lipman, Senior Vice President of Universal Records/President of Republic Records. "What makes our pact with Pat's Record Company a natural part of Universal's expansion is the long term vision we share for our artists and their music -- to take a more organic approach to the development process, working the music from the street upward."

Magnarella manages such noted acts as The Goo Goo Dolls, who have sold 6 million records with three straight #1 singles, Green Day, who has sold over 30 million records and The All American Rejects whose self-titled debut record was certified platinum. Prior to Mosaic Media Group, Magnarella was a music agent at Triad Artists and a booking agent for Venture Bookings. Magnarella started his career in the mailroom at ATI in NY.

About Mosaic Media Group

Mosaic Media Group, launched in July 1999, unites
film and music company Atlas Entertainment, and its affiliated division Atlas/Third Rail Management, with the talent management group The Gold/Miller Company.

Its diversified interests include roles as the controlling shareholder in dick clark productions ("Golden Globe Awards," "American Music Awards," Academy of Country Music Awards") and ownership of Mosaic Music Publishing, including the Aerosmith and ZZ Top catalogues. Mosaic also has an entertainment marketing division through their 50-50 joint ventures with Elevation Entertainment and the marketing division of the Steven Rifkind Company.

Mosaic recently produced the $275-million-plus worldwide box office hit Scooby-Doo, as well as the sequel, Scooby Doo 2: Monsters Unleashed. Mosaic
is currently in post-production on the Terry Gilliam directed, Brothers Grimm, starring Matt Damon and Heath Ledger, and Kicking and Screaming, starring
Will Ferrell and Robert Duvall, and is also in production on Batman Begins, directed by Chris Nolan. Previous movies include as Cool Runnings, 12 Monkeys, City of Angels, Three Kings, Scary Movie 1 & 2.

Clients include Jim Carrey, Ellen DeGeneres, Will Ferrell, Kristin Davis, Sean Hayes, Tea Leoni, Garry Shandling, Kevin Sorbo, Sacha Baron Cohen (Ali G), Vince Vaughn, Jay Roach, Kathryn Morris, Judd Apatow, David Hollander, Alanis Morissette, The Goo Goo Dolls, Green Day, and LeAnn Rimes.