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Agreement For A Limited Liability

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					                                                                                                                 November 6, 2008

           Avex Concludes Agreement on ORS Limited Liability Partnership

Avex Group Holdings Inc. announces that its wholly owned subsidiary Avex Entertainment Inc. and Oorong Records
Inc. today concluded an agreement to jointly form a limited liability partnership (LLP), under which the two parties will
cooperate mainly in artist management, music (visual content) production, promotions, artist development, and other
areas. AEI will establish Avex Management Inc. in January 2009 through a demerger (incorporation-type company
split), and the new company will take over as partner under the LLP. Details are as follows.

1. LLP Profile
             Name                ORS Limited Liability Partnership (the O, R and S shall be pronounced separately)
            Location             Shibuya-ku, Tokyo
            Partners             AEI and OR
       Date when the LLP         November 28, 2008
   agreement comes into effect
        Amount invested          40 million yen (AEI: 20 million yen; OR: 20 million yen)
       Date of foundation        December 2008 (planned)

2. Purpose of LLP and plans for the future
   The LLP is for the purpose of developing a completely new type of creativity and approaching new user segments by
   combining AEI’s knowhow in artist development, music production and promotion with OR’s unique artist
   development and music production capabilities.
   As an activity under the LLP, AEI and OR plan to release the first album for their artist lego big morl on January 28,
   2009.

                                                     lego big morl

                                                     (l. to r.) Shintaro Yamamoto (bass), Takehiro Kanata (vocal and guitar), Hiro
                                                     Asakawa (drums), Hiroki Tanaka (guitar)


                                                     The band was formed in March 2006 when vocalist and guitarist Takehiro
                                                     Kanata, guitarist Hiroki Tanaka and bassist Shintaro Yamamoto, from the
                                                     same high school in Osaka, were joined by drummer Hiro Asakawa from
                                                     Kumamoto.
                                                     In August 2006, it released its first demo CD containing four tracks and sold
                                                     exclusively at concerts. In March 2007, the band undertook its first tour with
                                                     concerts in Tokyo, Yokohama, Ibaraki and Gunma, further expanding its
                                                     performing area outside of Osaka.
                                                     In August of that year it distributed a free audio titled “Tequila Good-by”
                                                     exclusively at concerts. In February 2008, it sold a second demo containing
   ORS: http://ors-llp.jp/                           three tracks, also sold only at concerts. The limited run of 1,000 discs sold out.
   lego big morl: http://www.legobigmorl.jp/         That April, the band received media coverage for a limited-time free rental
                                                     offer of its music at TSUTAYA as a first trial, and the sold-out release in May
                                                     of a 100-yen single CD sold exclusively at Tower Records.

Contact: Avex Group Holdings Inc.
           Investors & Public Relations Room
           +81-3-5413-8508

				
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