Lost Jimi Hendrix Song to Be Sold at Ocean Tomo's Live Intellectual Property Auction

Lost Jimi Hendrix Song to Be Sold at Ocean Tomo's Live Intellectual Property Auction

40-Year Old, Never-Before-Released Song; Amongst Earliest Recordings of Jimi Hendrix as a Solo Artist

CHICAGO, July 25 /PRNewswire/ -- Ocean Tomo, LLC announced today the inclusion of a rare and unique find in The Ocean Tomo Fall 2006 Live Intellectual Property Auction to be held on October 26, 2006 at Capitale in New York City. The copyright and original reel-to-reel recording of the 40-year old, never-before-released Jimi Hendrix song "Station Break" will be made available in the world's first-ever live auction that includes patents, trademarks, domain names and copyrights.

"Station Break" was recorded during a session early in Mr. Hendrix's career as a solo artist, even before he adopted the modified spelling of his name "Jimi". The song was recorded during the same session as other well-known Hendrix instrumentals such as "Kato's Special" (aka "Hornet's Nest"), "Flying On Instruments" (aka "Knock Yourself Out?"), "No Such Animal", "I'm a Fool For You" and "U.F.O." For unknown reasons, however, the song was never released.

"Station Break" was co-composed by Jerry Simon, President of R.S.V.P. Music, who produced the 1966 recording session at Allegro Sound Studios in New York City. According to Mr. Simon's long-time partner, Celeste Simon: "In 1994, when we were living in Woodstock, Jerry stumbled across this old recording in the closet and realized that nothing had ever been done with this recording. It just slipped through the cracks."

The successful bidder at the auction would receive:

-- Ownership of the physical reel-to-reel;
-- 1/2 ownership of the NY state common law copyright in the sound
recording;
-- The right to digitally re-master the sound recording;
-- The right to issue non-exclusive licenses to the sound recording (with
1/2 of any such proceeds being owed to the Hendrix estate);
-- The right to receive 1/2 of all mechanical license royalties (with the
other 1/2 going to the Hendrix Estate); and
-- The right to receive 1/2 of all public performance royalties from the
performance right societies (with the other 1/2 going to the Hendrix
Estate).

For more information on the Jimi Hendrix recording or The Ocean Tomo Fall 2006 Live Intellectual Property Auction, please call 312.377.4851 or visit http://www.oceantomoauctions.com/ .

About Ocean Tomo, LLC:

Ocean Tomo, LLC ( http://www.oceantomo.com/ ), the Intellectual Capital Merchant Banc(R) firm, was established in 2003. The firm specializes in understanding and leveraging intellectual property assets and provides advice in IP-related mergers and acquisitions, valuations, expert services, analytics and IP auctions. Ocean Tomo has offices in Chicago, San Francisco, Palm Beach, Orange County and Washington, DC. In April of 2006, Ocean Tomo conducted the first-ever, live patent auction at the Ritz-Carlton in San Francisco, and in May of 2006, Ocean Tomo was appointed as Back-Up IP Manager for an approximately $1.8 Billion trademark royalty rights securitization - the largest IP securitization ever. Subsidiaries of Ocean Tomo include: Ocean Tomo Capital Fund, LP -- a $200 million private equity investment fund; and Ocean Tomo Asset Management, LLC -- an SEC Registered Investment Advisor offering hedge funds utilizing IP-based investment strategies.

Source: Ocean Tomo, LLC

CONTACT: Wendy Chou of Ocean Tomo, LLC, +1-718-812-6707,
wchou@oceantomo.com

Web site: http://www.oceantomo.com/
http://www.oceantomoauctions.com/

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