Nashville Records, Inc. (NRCD)

[53chevy]

To the Board:

I had the first of what I hope will be several conversations in the future with Mr Sibbett this evening. He was gracious enough to spend considerable time with me, despite the hour for him locally.

Here are the issues I specifically raised on this particular call, and his responses to my inquiries:

1) Warrants
I expressed to him the majority opinion that the website update repsenting the company's current stance on the warrants was not being well received. I explained to him why, and how it was far different than what David had expressed to us about an anticipated revision.
He acknowledged the maintenance problems, for both the company and the shareholders, with the way the warrants were originally presented. He agreed to re-evaluate the plan, discuss with legal counsel, and advise the shareholders of any changes he felt appropriate. He remains committed to providing some means to recognize shareholders who remain invested in the company

2) USS New York
The christening is scheduled for March 1, 2008. Based on the terms of their joint venture agreement, the company will receive royalties from the project. He too had heard that the actual commissioning had been delayed to 2009, but expressed a personal opinion that Bush would try and find a way to pull it back into 2008.

3) QuestPay
The project is progressing, and they are still anticipating Beta Testing to begin during the first half of this year. They do not know if they can still meet their original target for Beta testing in March, due to a programming issue that they are working to resolve, but hope to resolve it quickly, in an effort to maintain the original plan

4) Christmas album sales
Revenue and volumes sales will not be made available until Mid-April, as the reports are done quarterly, and therefore not issued to the labels until the first week in April. He is aware of the value that PR'ing this information would provide

5) TriMark
A considerable amount of effort is being spent here, and there is a consultant who has been engaged specifically to prepare the prospectus for investors who have expressed an interest in providing additional funding to help launch it.

Mr Sibbett indicated that he will keep the shareholders more informed as to the progress being made, and was quite excited about the people who have expressed an interest to get involved, but would not provide specific companies. It was quite obvious quickly that he believes this has significant potential for both the company and the shareholders.

In closing:

Mr Sibbett expressed his apologies for not doing more to keep the shareholders informed, and will work to improve that in 2008. He is already taking steps to try and arrange for David's replacement.

We talked about the value of keeping us informed about the success of Jason's single (he noted that on some of the target stations, the song is now being requested 12-20 times a day) as well as providing us more information on both the single and album release.

I asked that he also PR his 2008 business plans, as well as an update on when he plans to submit the required filings to uplist off of .PK

He responded back by noting that with the multiple of projects that they have, coupled with the time consumption to address the 504 issues (yes, they really are working on a resolution to get shares BACK that number in the millions!) that some things just simply had to take a lower priority, but he did acknowledge the value of uplisting, and implied that it still is part of his overall plan and strategy.

I had several more questions for him, but his schedule simply did not afford more time. He committed to having additional discussions with me, to address as many questions and concerns as possible.