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Nashville Records, Inc. Announces Rescission of Private Offering
Nashville Records, Inc. (PINK SHEETS: NSHV) investor relations has recently received calls from investors regarding decline in share price and apparent shares sold onto the market. In response, the company has examined all possible selling sources and has identified a breach of contract regarding a previously arranged 504-D issuance of shares. All shares issued from this transaction have been recalled and “Stop Transfer” orders have been issued to the Company’s transfer agent.

While the shares were legitimately owned by the 504-D purchaser, they were never intended to become free trading and Nashville Records™ engaged attorneys to deem the entire contract null and void, and force the return of all shares back to the company. 504-D shares not yet sold into the market are to be returned immediately to the company treasury – all sold shares will have to be re-purchased on the open market and returned to the company treasury.

Between April 12, 2007 and May 1, 2007 the company entered the 504-D offering encompassing two issuances of shares and one transaction that had not resulted in funds being received by the Company.

Upon further review by the Company’s securities attorney, an opinion letter was issued and sent to the various parties involved, their legal counsels, and the brokers or market makers who seemed to be trading in the shares.

The offering itself, which was conducted as an exempt intra-state offering in the state of Minnesota, was credible and legally sufficient and was handled by specialized securities attorneys, but it was the opinion of Nashville Records and its securities counsel that the follow–up redistribution of the shares to holders in another State was an unregistered underwriting that not only violated the spirit of the exemption, but State and Federal Securities laws as well.

While the opinion of counsel letter is far too voluminous to publish via a press release, it can be viewed as text on the Company’s website, http://www.nashvillerecords.com.

A Minnesota securities attorney will be retained to seek a permanent injunction to halt trading of the tainted shares, possibly with the aid of the Minnesota Securities Department.

Although the company regrets this issuance, it is acting aggressively to find a swift resolution. It is important to company management that transparency with shareholders is maintained regarding evolutionary steps in our development. While the company was founded on expert talent from the music industry, the unique risks associated with being traded on the public market will be minimized in the future by engagement of legal and investment banking advise before actions of this nature are undertaken.

The company’s reaction to the contractual breach will eventually result in the forced buyback and return of 25,226,189 shares to the Company treasury. One purchaser in the 504-D offering has voluntarily returned 2,083,333 shares that have been cancelled. The Company assumes that a large portion of the remaining shares may have been sold into market.

Nashville Records, Inc.
David J. DiRicco, 877-995-0992



Source: Business Wire (June 19, 2007 - 9:32 AM EDT)