-- Company's Product Range Now Includes Six High-Performance A/V Components with Two-Way RS-232 System Control --

Pine Brook, NJ, September 5, 2003 -At CEDIA 2003, Denon Electronics is demonstrating its commitment to meeting the needs of the custom installation market with an expanded range of audio/video products featuring RS -232 control. The company now offers four A/V receivers and two universal DVD players with two -way RS -232 connectivity, which provide unparalleled integrated system control flexibility in a wide range of custom installation and high -performance home entertainment applications.

Stephen Baker, Denon Senior Vice President of Sales and Marketing noted: "Denon has long been a brand of choice among dealers and installers, thanks to our products' exceptional performance, versatile features and reliability. We are dedicated to providing customers with components that best meet their home entertainment needs, and based on feedback from dealers and custom installation specialists, we recognize that the demand for products with RS -232 capability that operate seamlessly together is stronger than ever. As the custom installation market continues to expand and home entertainment system requirements become more sophisticated, we are meeting the demand with audio/video components that provide total system control flexibility along with superlative video and audio performance."

Following is an overview of Denon products with RS -232 control capability:

AVR -5803, AVR -4802R, AVR -3803, AVR -2803: Total Home Theater Receiver Flexibility

Denon's home theater receivers have earned rave reviews from critics, dealers and consumers for their unmatched combination of sound quality, features, installation flexibility and value in their respective categories, and the flagship, award -winning AVR -5803 has been acknowledged as the world's finest audio/video receiver. Along with the 7.1 -channel AVR -5803, Denon's 7.1 -channel AVR -4802R, AVR -3803 and AVR -2803 all incorporate RS -232 connections that allow for two -way integrated system control in custom home entertainment installations, facilitating their use with third -party system controllers such as Crestron and AMX, and in whole -house multi -room audio/video applications.

The receivers include a number of additional custom installation -friendly features, such as remote in/out ports, assignable 12 -volt triggers, multi -zone operation, high -bandwidth component video switching, multiple digital and analog audio and video inputs, outputs and switching facilities, extensive bass management options and other advanced control and system optimization features. In addition, the AVR -5803 incorporates exclusive Denon Link technology for direct digital audio connection to a Denon Link -enabled DVD player such as the Denon DVD -5900, to deliver the ultimate level of sonic performance.

Along with unmatched installation flexibility, the Denon AVR -5803, AVR -4802R, AVR -3803 and AVR -2803 are designed for superlative sound quality, and compatibility with all popular surround sound audio formats. All models utilize premium D/A converters and Analog Devices 32 -bit DSP processors, along with fully discrete, equal power amplifier sections to deliver authoritative, dynamic, expansive reproduction of multichannel movie soundtracks and music. All the receivers offer a host of additional advanced performance and convenience features that make them the ideal control centers for custom installations and sophisticated home
theater systems.

Suggested retail prices for the receivers are as follows: AVR -5803, $4,300; AVR -4802R, $2,000, AVR -3803, $1,199; AVR -2803, $799.

DVD -5900 and DVD -2900 DVD Players: Universal Format Compatibility

Denon is demonstrating clear leadership in ultimate -performance home entertainment with the debut of its flagship DVD -5900, a state -of -the -art progressive scan universal player (DVD -Audio/Video/Super Audio CD) that sets new industry standards for audio/video performance, innovative engineering and overall build quality. The DVD -5900 offers DVD -Audio and Super Audio Compact Disc (SACD) playback, plus CD, CD -R/RW, DVD+
and -R/RW and MP3 -CD playback. In addition, the DVD -5900 provides compatible playback of WMA (Windows Media Audio) -encoded CDs, as well as JPEG, Kodak and Fuji Picture CD discs.

The player's RS -232 port and remote in/out ports, along with additional features such as a DVI digital output and dual IEEE 1394 ports, make it ideal for use in the most sophisticated high -end custom installations. In addition, the DVD -5900 features proprietary Denon Link technology for direct digital audio connection to a Denon Link -enabled receiver such as the Denon AVR -5803. The DVD -5900 (SRP: $2,000) includes a host of additional leading -edge features such as dual discrete 12 -bit/216MHz video D/A conversion, the latest DCDi by Faroudja interlaced/progressive decoding, 24 -bit/192kHz audio D/A conversion, full digital bass management and much more.

Denon's DVD -2900 universal player offers exceptional performance, features and operational flexibility, at a suggested retail price of $999. It plays back virtually every popular optical disc format available for all -in -one source component versatility, and is engineered to the highest standards to deliver superlative video and audio performance. The DVD -2900 includes an RS -232 port plus remote in/out connections to facilitate its use in custom installations, and incorporates high -end features such as Denon's use of PureProgressive Scan™ technology featuring the Silicon Image SiL 504 decoding engine, Noise Shaped Video™ digital image enhancement technology and many additional advanced features including full digital bass management.

In common with all Denon DVD players, the DVD -2900 provides an extensive complement of video and audio connections including component video, S -Video and composite video outputs, digital and analog audio outputs and more, to facilitate installation in a wide range of home entertainment systems.

About Denon Electronics

From its beginning in the 1930s as a supplier of professional recording studio and broadcast equipment, Denon has become a world leader in the manufacture of the highest quality audio, audio/video, and software products. Denon is recognized internationally for innovative and groundbreaking products and has a long history of technical innovations, including the development and first commercialization of PCM digital audio.

About D&M Holdings Inc.

D&M Holdings Inc. (TSE II: 6735) is based in Tokyo and is the parent company of wholly owned subsidiaries Denon Ltd., Marantz Japan, Inc. and McIntosh Laboratory, Inc. Denon, Marantz and McIntosh are global industry leaders in the specialist home theater, audio/video consumer electronics and professional audio markets, with a strong and long -standing heritage of manufacturing and marketing high -performance audio and video components. A wholly owned subsidiary of D&M Holdings U.S., Inc., Digital Networks North America, Inc. (DNNA), owns the ReplayTV®, Rio®, and Escient® brands -all representing award -winning technologies in digital home entertainment. Additional information is available at

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