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2KSounds Corporation Concludes Transaction With Strategic Investor

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--July 12, 2002--2KSounds
Corporation (OTCBB:TWOK) today announced the Company's president
Michael Blakey, has completed a third party private sale of 1,200,000
shares of 2KSounds common stock with Dennis Gilbert, an accredited
investor as defined by the Securities Act of 1933. The price of the
shares on the transaction date was $0.05 per share.
The shares are subject to Rule 144 and are not available for
registration under the Securities Act of 1933. Furthermore, Mr. Blakey
remains subject to comply with the Securities Exchange Act Of 1934
Section 16 and prepare 13D filings. At the conclusion of this
transaction, Mr. Blakey will hold 72,856,085 shares of 2KSounds common
stock.
Dennis Gilbert, regarded as one of the top talent agents in
baseball, provided representation to baseball figures including Barry
Bonds, Jose Canseco and Brett Saberhagan among others. After his early
retirement in 1998, Mr. Gilbert joined the Chicago White Sox as
special assistant to Chairman Jerry Reinsdorf in November 2000.
Currently, Mr. Gilbert owns and operates a large insurance firm in
Beverly Hills California and maintains an established relationship
with a number of record industry professionals, companies and their
artists.
"Dennis Gilbert has witnessed 2KSound's growth and recognizes our
Company's ability to promote and produce leading edge performers. As a
strategic shareholder to 2KSounds, Mr. Gilbert's connections to the
record and music industries will provide many advantages to the
Company and its shareholders. I am delighted to have been able to
conclude a transaction with him which provides him with a vested
interest in our Company's growth," concluded Michael Blakey,
President of 2K Sounds.

ABOUT 2KSOUNDS CORPORATION

2KSounds Corporation is a holding company for its operating
subsidiary, 2KSounds, Inc., which is an integrated music company
located in Woodland Hills, California. 2KSounds locates and promotes
new musical talent, and produces and distributes their music through a
variety of methods, including joint ventures with major labels,
sub-labeling and partnerships on albums by existing artists. Most
significant, 2KSounds has entered into a direct distribution agreement
with EMD, a division of EMI, one of the five major world-wide music
companies, under which EMD will distribute all of 2KSounds music
offerings in the United States. The principal executive offices of
2KSounds Corporation are located at 21700 Oxnard Street, Suite 1030,
Woodland Hills, California 91367.

Statements about the company's future expectations, including
future revenues and earnings, and all other statements in this press
release other than historical facts, are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that term
is defined in the Private Securities Litigation Reform Act of 1995.
The company intends that such forward-looking statements be subject to
the safe harbors created thereby. Since these statements involve risks
and uncertainties and are subject to change at any time, the company's
actual results could differ materially from expected results. Factors
that could cause or contribute to such differences include, but are
not limited to, our limited operating history, dependence on artists,
dependence on short-term artist agreements, lack of market acceptance
for our music offerings, our failure to develop a strong brand
identity and dependence on our agreement with EMI Music Distribution.
Please refer to the company's Form 10-K and 10-Q filings with the
Securities and Exchange Commission for more information on factors
that could cause actual results to differ.

--30--dw/mi*

CONTACT: 2KSounds, Inc., Woodland Hills
Joe Davis, 818/593-2225
[e-mail]
or
Investor Awareness, Inc., Deerfield, Ill.
Tony Schor, 847/945-2222
[e-mail]
http://www.invrel.net

KEYWORD: CALIFORNIA FLORIDA
INDUSTRY KEYWORD: ENTERTAINMENT MUSIC RETAIL
SOURCE: 2KSounds Corporation

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