Blue Moon Group Completes Distribution Deal with Sony Red -- Hires M&A Firm to Expand Business Opportunities

Blue Moon Group, Inc. (OTCBB: BMOO), announced today it has completed an agreement with Brody Distribution Group for music distribution through Sony Red.

New York (PRWEB) July 18, 2003 - Blue Moon Group, Inc. (OTC Bulletin Board: BMOO),a Delaware Corporation announced today it has completed an agreement with Brody Distribution Group for music distribution through Sony Red.

Randall Letcavage of iCapital Finance, Inc. notes that Sony Red was founded in 1978 and has become one of the countries largest music distributors. Sony Red has a vast array of labels which they distribute music worldwide. With this distribution in place Blue Moon maybe able to entice additional artist and complimentary businesses and/or joint venture opportunities. To take advantage of this relationship Mr. Letcavage has assisted Blue Moon in retaining Hanover Financial services.

Blue Moon Group, Inc. under its labels Nebulous Records and Blue Moon Records has three new releases projected for this year which includes one of the years most anticipated new releases from the Group Destination Earth. Blue Moon Group and artists can be seen at its web site BlueMoonGroupInc.com.

Hanover Financial Services, located in Boulder, Colorado (Hanover") is retained for the purpose of assisting Blue Moon with the development of Merger and Acquisition opportunities. The consulting agreement with Hanover Financial Services is part of the Companys ongoing efforts to implement an external growth strategy to acquire new artists, new entertainment-based audio content as well as independent record labels.

Blue Moon has announced recent developments associated with enhancing its entertainment vertical and has retained Hanover Financial Services to assist the company with its expansion efforts. In addition, Hanover has peer engagements and is closely working with iCapital Finance, Inc. (iCapital"), to bring revenue generating complimentary business under the Blue Moon Umbrella.

This consulting agreement will greatly enhance our opportunity to have continual access to privately held businesses and publicly traded companies who are interested in developing a potential exit strategy their shareholders." Stated Mike Muzio, president and CEO of the Blue Moon Group. Blue Moons internal and external growth strategy is a natural extension of our efforts to become a leading independent record label and entertainment content provider."

Ronald J. Blekicki, President of Hanover Financial Services commented, We are very pleased to be part of this project. Our dedicated mergers and acquisitions services are very complimentary to the Blue Moon growth strategy."

About Blue Moon Group, Inc.
Blue Moon Group is a holding company with subsidiaries providing services to the Music, Entertainment and Film industry.

About Hanover Financial Services
Hanover Financial Services has been providing proven growth strategies for emerging public companies since 1984 and specializes in mergers, acquisitions, divestitures, joint ventures, private equity funding programs and other business development programs.

About iCapital Financial, Inc.
iCapital is a leading investment bank specializing in the Micro and Small Cap Public Companies and Middle Market Private Companies offering a wide range of financial advisory services, including M&A, equity and debt financing, strategic advisory, and financial consulting. iCapitals industry experience and financial resources enables it to assist high growth companies meet their corporate objectives.

About Sony Red
Sony Red represents many labels and serves many music genres. Since 1978 Sony Red has grown into one of the nations largest music distributors. Sony Red can be visited at RedMusic.com.

The information in this Press Release includes certain forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company.

Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

Contact Information:
iCapital Finance, Joseph Cerbone (jcerbone@icapitalfinance.com), 2603 Main Street, Suite 1150, Irvine, CA 92614, Office: (949) 260-8070; Fax: (949) 260-0116