THE ISLEY BROTHERS
SING MUSIC ROYALTIES DEAL

Jet Magazine
November 1, 1999

The Isley Brothers is the latest recording group to sign a deal based on future royalties of its music.

The group's hits include It's Your Thing, Twist & Shout and Fight the Power.

There are more than 200 songs in the Isley Brothers catalog.

The group is next in line for a music royalty securitization deal that will resemble those signed by performer David Bowie, James Brown, Ashford and Simpson and song-writers Holland-Dozier-Holland, all of whom have secured future royalties from their hits after a deal with Wall Street investment banker David Pullman of the Pullman Group in New York.

The Isleys signed a deal with the Pullman Group to sell bonds secured by the royalties from its hit records.

A music royalty securitization is a financing of artist and publishing royalties that allows the original owner to keep 100 percent ownership of the assets which are financed.

Pullman is the brain child behind Bowie's historic $55 million loan transaction two years ago.  Bowie started the trend of royalty-backed bonds.

Under this kind of business transaction, the Isley Brothers can cash a check today while royalties from record sales of songs will go to a special fund, which will pay off the bondholders.

Ron Isley, founding member of the Isley Brothers, said of the new business deal, "I was drawn to work and sign with David Pullman and his Pullman Group not only because he's done all the deals but because he respects artists and creativity.  Pullman has decided to empower the artist and creator.  Pullman embodies the hit song we wrote, Fight the Power."