On 20th December 2002 we announced that, under the terms of his service
contract, Mr Alain Levy, an Executive Director of EMI Group plc, was on 19th
December 2002, inter alia, granted an option over 2,000,000 EMI Group plc
Ordinary Shares.

 

The exercise price per share for the option was to be determined from the
average middle market quotation of an EMI Group plc Ordinary Share, as derived
from the Daily Official List of the London Stock Exchange, over five dealing
days ending on a date in mid-December 2003.   As of 18th December 2003, the
exercise price per share of the aforementioned option was determined to be
153.75p per share.

 

The option may not be exercised earlier than three years from the date on which
the exercise price was determined.   Furthermore, such option may not then
ordinarily be exercised unless certain performance conditions, based on growth
in the Company's earnings per share, are achieved.

 

The exercise price per share for the other two options over 2,000,000 shares
each granted on 19th December 2002 will be determined from the average middle
market quotation of an EMI Group plc Ordinary Share, as derived from the Daily
Official List of the London Stock Exchange, over five dealing days ending on a
date in mid-December 2004 and 2005.   Further announcements will be made at the
appropriate time of the exercise prices so determined.

 



END