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Recorded llus c (continued)<br />
Digital download<br />
programme launch<br />
in .luly 2000<br />
New media developments represent<br />
considerable growth opportunities for<br />
the music industry which we believe<br />
outv/eigh the potential risks of piracy.<br />
We are remodelling our business in<br />
order to maximise the opportunities and<br />
benefits of the new envrronment. Thrs<br />
involves digitsing 100% of our global<br />
content, developing busines models<br />
for digital downloading and exploring<br />
important new marketing and promotion<br />
opportunities.<br />
wwwhdly oodarrtineaom<br />
\^/vvwsparo^4€