TC GROUP APPOINTS NEW MANAGING DIRECTOR FOR TANNOY NORTH AMERICA

Kitchener, Ontario (June 2, 2004) - Anders Fauerskov, CEO of TC Group, announced today the appointment of Marc Bertrand to the position of Managing Director for Tannoy North America Inc.

Kitchener, Ontario (June 2, 2004) - Anders Fauerskov, CEO of TC Group, announced today the appointment of Marc Bertrand to the position of Managing Director for Tannoy North America Inc. Bertrand has held various positions over the past 10 years, most recently, VP Sales. Fauerskov commented "the appointment to Managing Director was natural progression for both Marc and the organization."


Fauerskov went on to say "the contribution of the management group at Tannoy North America has been excellent. They have exerted strong leadership skills ensuring the transition from changes in December went remarkably smooth. It made perfect sense to not change a winning team and to continue with what has proven to be very effective."

Bertrand commented: "The contributions and efforts shown by the entire Tannoy organization over the past few months have been exceptional. While facing some of our greatest challenges, we have created a stronger focus on our customer in all aspects of our business. These efforts will continue to enforce our global strategy as being the leading innovator of premium audio solutions utilizing cutting edge acoustic, electronic and digital expertise. I'm excited about the new role and the challenges it brings. Operating results for the first quarter of calendar 04 have clearly demonstrated significant gains in all areas of the company. We are in the process of building a very productive and positive future. Things are better than ever."

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