MTS Inc. Loan Update

Apr 23, 2001, 01:00 ET from Tower Records/MTS Inc.

    SACRAMENTO, Calif., April 23 /PRNewswire Interactive Press Release/ --
 MTS Inc. dba Tower Records stated the company has formally agreed with its
 bank group to extend the maturity of its existing credit facility from
 April 23 until April 27, 2001. The extension will allow reasonable time to
 conclude the renewal process of the credit facility.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990915/TOWERRECORDS )
     Tower Records has long been recognized and respected throughout the world
 for its unique brand of retailing. Founded in 1960 in Sacramento, CA, the
 company's phenomenal expansion over four decades has brought the Tower name
 and retail philosophy to eighteen countries globally, including, U.S., Canada,
 England, Ireland, Scotland, Japan, Taiwan, Singapore, China (Hong Kong),
 Mexico, Argentina, Israel, South Korea, Thailand, Malaysia, The Philippines,
 Colombia and Ecuador.
     Tower owns and operates 181 stores worldwide with 62 franchise operations
 in seven countries. The organization opened one of the first Internet music
 stores on America Online in June 1995 and followed a year later with the
 launch of TowerRecords.com in November 1996. Tower relaunched its website in
 August 2000 with an emphasis on search, selection, simplicity and service.
 Tower now works with many partners including, Net Perceptions, Liquid Audio
 Inc., Flooz, AOL, Yahoo!, Student Advantage and many others. Tower Records
 maintains its commitment to providing the deepest selection of packaged
 entertainment in the world.
     Forward-looking statements in this release, if any, are made under the
 safe harbor provisions of the Private Securities Litigation Reform Act of
 1995. Certain important factors cause results to differ materially from those
 anticipated by the forward-looking statements, including the impact of
 changing economic or business conditions, other risk factors inherent in the
 entertainment industry, and other factors discussed from time to time in
 reports filed by the company with the Securities & Exchange Commission.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X93432510
 
 

SOURCE Tower Records/MTS Inc.
    SACRAMENTO, Calif., April 23 /PRNewswire Interactive Press Release/ --
 MTS Inc. dba Tower Records stated the company has formally agreed with its
 bank group to extend the maturity of its existing credit facility from
 April 23 until April 27, 2001. The extension will allow reasonable time to
 conclude the renewal process of the credit facility.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990915/TOWERRECORDS )
     Tower Records has long been recognized and respected throughout the world
 for its unique brand of retailing. Founded in 1960 in Sacramento, CA, the
 company's phenomenal expansion over four decades has brought the Tower name
 and retail philosophy to eighteen countries globally, including, U.S., Canada,
 England, Ireland, Scotland, Japan, Taiwan, Singapore, China (Hong Kong),
 Mexico, Argentina, Israel, South Korea, Thailand, Malaysia, The Philippines,
 Colombia and Ecuador.
     Tower owns and operates 181 stores worldwide with 62 franchise operations
 in seven countries. The organization opened one of the first Internet music
 stores on America Online in June 1995 and followed a year later with the
 launch of TowerRecords.com in November 1996. Tower relaunched its website in
 August 2000 with an emphasis on search, selection, simplicity and service.
 Tower now works with many partners including, Net Perceptions, Liquid Audio
 Inc., Flooz, AOL, Yahoo!, Student Advantage and many others. Tower Records
 maintains its commitment to providing the deepest selection of packaged
 entertainment in the world.
     Forward-looking statements in this release, if any, are made under the
 safe harbor provisions of the Private Securities Litigation Reform Act of
 1995. Certain important factors cause results to differ materially from those
 anticipated by the forward-looking statements, including the impact of
 changing economic or business conditions, other risk factors inherent in the
 entertainment industry, and other factors discussed from time to time in
 reports filed by the company with the Securities & Exchange Commission.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X93432510
 
 SOURCE  Tower Records/MTS Inc.