GIBSON GUITAR ANNOUNCES APPOINTMENT OF ROB SENN

FOR IMMEDIATE RELEASE

GIBSON GUITAR ANNOUNCES APPOINTMENT OF ROB SENN AS CHIEF OPERATING OFFICER

NASHVILLE, TENNESSEE, June 2, 2003-Veteran Entertainment Executive Rob Senn has joined Gibson Guitar as Chief Operating Officer effective immediately, it was announced today by Henry Juszkiewicz, Chairman/CEO. The Gibson name is one of the world's best known and most respected brands. Gibson is committed to continuing its tradition of quality and expanding its strong brand recognition into broader consumer electronics and entertainment products. In preparation for that expansion, Gibson is adding key executives to its senior management team who have specific experience in marketing, entertainment and brand development. Primary in this strategy is the hiring of the new COO, Rob Senn with his proven skills as a leader of major entertainment conglomerates. Senn will relocate to Nashville, Tennessee and operate from the company's corporate offices there.

"Rob comes to us with superb credentials and a unique skill set that perfectly matches what we were looking for in a Chief Operating Officer," said Juszkiewicz. "His background in music and entertainment and his extensive leadership experience with major organizations will play a key role in enhancing Gibson Guitar's profile as we continue to increase the scope of our operations into new technologies and consumer electronics."

Senn vacates his post as Senior Vice President-AEG (Anschutz Entertainment Group and CEO of AEG Creative where he was responsible for managing corporate creative services and brand development strategies for over 20 AEG companies, including entertainment content properties in sports, music, television and live events. The specific emphasis of AEG Creative is managing creative services utilizing a staff of 12 in four areas of concentration: Graphic Design, Internet Strategies, Event Production and Broadcast Services. Prior to AEG, Rob was the Executive Vice President/General Manager of The Recording Academy (The Grammy Awards.) He was responsible for all operations of the Academy including business affairs for seven affiliated corporations with $48 Million in annual operating expenses, 12 offices worldwide and 130 employees. During his 12-year tenure, the Academy's net assets increased from $5.7 Million in 1989 to $60 Million in 2000, an average annual growth of 25%.

Gibson is known worldwide for producing classic models in every major style of fretted instrument. Founded in 1894 in Kalamazoo, MI, and headquartered in Nashville since 1984, Gibson Guitar Corp.'s family of brands now includes Epiphone, Dobro, Kramer, Steinberg, Tobias, Slingerland, Trace Elliot and Maestro. Baldwin, founded in 1862 in Cincinnati, is one of the oldest and most respected American piano makers, and the Baldwin Company, which includes Ellington, Chickering and Wurlitzer, joined the Gibson family in 2001. Gibson's new digital guitar represents the biggest technological advance for the electric guitar since the instrument was invented 70 years ago. Visit Gibson's website at www.gibson.com.

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