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— Schuelzky receives promotion as part of company’s ongoing
strategic plan for continued growth—

WESTLAKE VILLAGE, CA, September 7, 2004 — Guitar Center, America’s leading musical instrument and professional audio retailer, has promoted industry veteran Peter Schuelzky to the position of Senior Vice President Regional Manager. The announcement was made by Maxx Galster, Executive Vice President of Stores for Guitar Center, and further positions Guitar Center for continued growth and long-term expansion. In his position, Schuelzky oversees a team of district managers in the Eastern corridor and is responsible for 53 Guitar Center stores, including GC’s 30,000-square-foot flagship superstore in Manhattan’s world-famous Union Square.

Peter Schuelzky has a rich history in the music industry and has been part of the GC team for the past 18 years. He joined Guitar Center in 1986 as a floor salesperson, and soon accepted a position as Store Manager. Schuelzky then became District Manager, followed by a promotion to Vice President District Manager, and most recently, Vice President Regional Manager. He has been the recipient of Guitar Center’s prestigious President’s Award, Founder’s Award and numerous Record Sales Awards, as well as overseeing 43 Guitar Center Grand Openings. Always a strong motivational force, under Schuelzky’s tutelage 49 Guitar Center Managers have been promoted in his district or region — a testament to the success of Schuelzky’s high standards and high expectations for his staff.

Commenting on Peter Schuelzky’s promotion, Maxx Galster stated, “For many, many years, Peter has been instrumental in not only Guitar Center’s growth, but in developing close relationships with our vendors and their key representatives. His strong people skills and work ethic has raised the bar and he continues to be a driving force for GC employees. Over the years, Peter has developed a very mature team of professional managers. We’re extremely proud to have him on the GC team.”

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About Guitar Center
Guitar Center is the nation's leading retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. We presently operate 134 Guitar Center stores, with 111 stores in 46 major markets and 23 stores in secondary markets across the U.S. In addition, the American Music division operates 20 family music stores specializing in band instruments for sale and rental, serving thousands of teachers, band directors, college professors and students. Guitar Center is also the largest direct response retailer of musical instruments in the U.S. through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and web site, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com.

The Guitar Center logo is a registered trademark of Guitar Center, Inc. Other brand or product names may be trademarks of the respective companies with which they are associated.

For further information on Guitar Center, contact Tina Montano at (818) 735-8800 ext. 2285, or log onto www.guitarcenter.com.

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