AC Milan Appoints Warner Bros. Consumer Products Worldwide Licensing Representative

(April 5, 2005 - Burbank, CA) - Kicking off a major global licensing agreement, AC Milan, one of the most successful and admired European Football clubs, announced the appointment of Warner Bros. Consumer Products as its exclusive worldwide licensing representative. The agreement also sets the stage for AC Milan to work with various divisions within Warner Bros. Entertainment and Time Warner on mutually beneficial marketing and promotional opportunities. “This unprecedented alliance between AC Milan and the world’s largest entertainment company has been a life-long dream for me,” said Adriano Galliani, Vice President and Chief Executive Officer, Milan Associazione Calcio s.p.a. “Warner Bros. Consumer Products is well-positioned to globalize our franchise and expand our fan base.” Warner Bros. Consumer Products will utilize their creative, licensing and retail expertise to develop a complete range of licensed products. New graphics, artwork and retail programs will be created for promotion partners and licensees around the globe and opportunities to license internet cafés, eateries and other specialty venues will be explored. Warner Bros. Consumer Products’ Italian office in Milan will spearhead the licensing program and closely coordinate all worldwide activities. “This partnership underscores the global leadership position that our Company has achieved and continues to expand upon. We are pleased and honored to team with AC Milan and ready to explore a host of opportunities to achieve our mutual goals,” said Dan Romanelli, President, Warner Bros. Worldwide Consumer Products. “AC Milan is a historic sports and entertainment franchise, and we are honored to have been selected to represent them the world over,” said Jordan Sollitto, Executive Vice President, Worldwide Marketing and International Licensing, Warner Bros. Consumer Products. “Going forward, we will be actively looking for ways to expand our relationship and share the broader benefits of the partnership.” The AC Milan and Warner Bros. Consumer Products partnership represents the first agreement of its kind between an entertainment company and a football club. Warner Bros. Consumer Products has significant experience in the world of Football with licensing partnerships currently including the Federacion Mexicana de Futbol (Mexican National Team) and the 2006 FIFA World Cup Germany™. They also recently represented UEFA’s EURO 2004 tournament held in Portugal. About AC Milan For more than one hundred years AC Milan has been synonymous with soccer, entertainment, emotion and success. The red and black has overall won the largest number of international trophies in the history of a soccer team. Since its founding in 1899, AC Milan has won 17 League Championships, 6 European Club Cups, 3 International Cups, 4 European Supercups, 5 Italian League Supercups, 5 Italian Cups and 2 UEFA Cups Winners’ Cups. Today AC Milan is a leading entertainment company producing sporting spectacles for millions of people around the world. About Warner Bros. Consumer Products Warner Bros. Consumer Products, a Warner Bros. Entertainment Company, is one of the leading licensing and retail merchandising organizations in the world. # # #