Virgin Entertainment Group Announces Search for Alternative Megastore Location

Virgin Entertainment Group Announces Search for Alternative Megastore Location

Ultimate Music and Entertainment Retailer Scouting for New Boston Site as Developer Boston Residential Group Preps 360 Newbury Street for Second Phase of Renovations

BOSTON, April 27 /PRNewswire/ -- Global specialty music and entertainment retailer, Virgin Entertainment Group, will be vacating its premises at Newbury Street in Boston, Massachusetts by June 2007.

As part of a mutual agreement by both parties, Virgin Megastore will seek an alternative location in the Boston area, and developer Boston Residential Group will proceed with the second phase of its redevelopment program for this Frank Gehry landmark, by seeking a new high-end retailer or service provider to lease the space and serve as a luxury amenity for future residents. Boston Residential Group is converting the office space above the Virgin Megastore into upscale luxury condominiums.

Virgin Megastore Boston will continue to expand its product offerings while it seeks an alternative Boston location. Virgin Megastore promises it will be business as usual, as the company is committed to ensuring that its customers will continue to receive the very best levels of service, selection and value that are expected from the brand. The entertainment merchandise assortment will remain the broadest and deepest in the region, and weekly sales and artist performances will continue to be regular features.

Unlike most of its competitors, Virgin has continued to invest in several markets, provide a superior customer experience and expand its merchandise assortment. A new 20,000 square foot Virgin Megastore was successfully opened in Hollywood, California in 2005, and the chain's flagship location in New York's Times Square has just undergone a major refurbishment program.

Virgin will announce further details on the alternative Boston location as soon as they are available.

ABOUT VIRGIN ENTERTAINMENT GROUP

Virgin Entertainment Group is the world's leading multi-channel music and entertainment retailer, providing customers with a range of superior entertainment experiences through a family of integrated Virgin-branded businesses. The "category killer" Virgin Megastores and Virgin Megastore Online at www.virginmega.com are integral parts of a strategy to provide entertainment customers with what they want, how they want it, and when they want it. For more information, or to check out the location of the nearest Virgin retail, go to www.virginmega.com

Source: Virgin Entertainment Group

CONTACT: Krysty O'Quinn of SJ Communications, +1-818-881-3889,
krysty@sjcommunications.com, Public Relations for Virgin Entertainment Group;
or Nancy Delpidio of Bishoff Communications, +1-617-573-0076,
ndelpidio@bishoffcommunications.com, Public Relations for Boston Residential
Group

Web site: http://www.virginmega.com/

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