MARANTZ SETS A NEW STANDARD IN UNIVERSAL DVD PLAYER VALUE AND PERFORMANCE WITH NEW DV6400

-- DV6400 Universal Plater, VC5400 DVD-Audio/Video Changer and VC4400 DVD-Video Player Make Their Debut at CEDIA 2003 --

ITASCA, IL, September 5, 2003 -In a move that makes true high -end universal DVD player performance more affordable than ever before, Marantz America today announced the introduction of its DV6400 DVD -Audio/Video/SACD Player, delivering exceptional progressive scan video and multichannel audio quality along with all -format disc compatibility at a suggested retail price of $599. In addition, Marantz announced the introduction of its VC5400 5 -Disc DVD -Audio/Video Changer and VC4400 5 -Disc DVD -Video Player, two high -performance progressive scan models that offer a wealth of versatile features for enhanced home theater enjoyment.


The DV6400: Universal Playback Compatibility and Exceptional Versatility

The Marantz DV6400 is an exceptional all -in -one home entertainment source component, with the ability to play back both DVD -Audio and Super Audio Compact Discs (SACD), along with progressive scan DVD -Video playback and much more.

The Marantz DV6400 is engineered for superlative audio and video performance. Along with two -channel and multi -channel DVD -Audio and SACD capability, the DV6400 offers universal playback compatibility, enabling users to enjoy DVD -Video, CD, CD -R/RW, DVD -R/RW, MP3, Video CD and Super Video CD discs, as well as discs containing WMA (Windows Media Audio) files. The DV6400 delivers a spectacular level of digital video image quality, featuring progressive scan component video output with true 3:2 and 2:2 pulldown detection and advanced digital video processing circuitry for the best -possible reproduction of film -based DVD -Video discs. It includes component video, S -Video and composite video outputs, plus coaxial and optical digital, and two -channel and multichannel analog audio outputs.

Along with superb video performance, the DV6400 delivers state -of -the -art audio quality. The player features an audio section with components specially selected for maximum sonic purity, along with premium 192kHz/24 -bit audio D/A converters, discrete multi -channel audio circuitry and many additional refinements. A Video Off mode turns the video circuitry off during audio -only playback, for best sound quality when listening to audio -only discs.

Like all Marantz DVD players, the DV6400 includes a wealth of convenience features and viewing options, including a discrete power on/off feature for ready integration in custom installation applications. All functions can be easily controlled via its multi -language on -screen menu, remote control and intuitive front -panel control layout.

The Marantz DV6400 DVD -Audio/Video/SACD Player will be available in November 2003 at a suggested retail price of $599.

The VC5400: Ultra -Slim Design, Outstanding Performance

Marantz's VC5400 5 -Disc DVD -Audio/Video Changer is a versatile DVD -Audio/Video player that lets home theater enthusiasts enjoy hours of uninterrupted, high -quality DVD -Video and high -resolution DVD -Audio playback. Along with DVD -Video and DVD -Audio compatibility, the VC5400 plays back CD, CD -R/RW, DVD -R/RW, MP3 and Video CD discs, as well as discs containing WMA files. The VC5400 offers progressive scan component video output with 3:2 and 2:2 pulldown and features advanced 192kHz/24 -bit D/A converters for exceptional picture and sound quality, and includes a full complement of digital and analog audio and video connections. The VC5400 provides a wealth of convenience functions and viewing options, including true random play capability for all types of discs.

The VC5400 features a new, ultra -slim chassis design that makes it easy to fit into any home entertainment system and custom installation, including spaces where other DVD players cannot be accommodated.

The Marantz VC5400 5 -Disc DVD -Audio/Video Changer will be available in September 2003 at a suggested retail price of $549.

The VC4400: Superb DVD -Video Picture and Sound Quality

The Marantz VC4400 5 -Disc DVD -Video Changer provides all the advanced performance and convenience features of the VC5400, without DVD -Audio playback capability. It's the ideal home entertainment source component for consumers who do not require DVD -Audio playback, offering the identical, superlative progressive scan video quality as the VC5400, along with high -end multichannel audio performance and a host of useful performance and convenience features.

The Marantz VC4400 5 -Disc DVD -Video Changer will be available in September 2003 at a suggested retail price of $429.

Celebrating its 50th anniversary in 2003, Marantz America is committed to upholding the tradition of technological superiority initiated by founder Saul Marantz. In keeping with this emphasis on quality, Marantz audio and video components are carried only by the nation's premier independent audio/video specialty retailers. Additional information is available at www.marantz.com.

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 www.dm -holdings.com.

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DISCLAIMER

Statements in this news release that are not statements of historical fact may include forward looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. Forward looking statements involve a number of risks and uncertainties surrounding competitive and industry conditions, market acceptance for the company's products, risks of litigation, technological changes, developing industry standards and other factors related to the company's businesses.

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