D&M Holdings to Acquire Philips Sound Solutions

November 30, 2006

Tokyo - Nov 28, 2006 - D&M Holdings has signed an agreement to acquire Philips Sound Solutions (PSS) of Royal Philips Electronics. PSS manufactures hi-fi audio products for the automotive and consumer electronics markets, including BMW, Volkswagen, Toyota Europe, Seat and Jaguar.

D&M Holdings will re-name the company D&M Premium Sound Solutions. D&M, based in Kawasaki, Japan, owns the Denon, Marantz, McIntosh Laboratory, Boston Acoustics, Snell Acoustics, D&M Professional, Denon DJ, Replay TV and Escient brands.

This transaction is expected to close by the end of this year.

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