NOT FOR RELEASE IN THE UNITED STATES

           EMI TODAY ANNOUNCES PRICING OF Euro425 MILLION SENIOR NOTES            

EMI Group plc, LONDON 29 September 2003: Further to its announcement on 15
September, EMI Group plc announces that it has today priced its issue of senior
notes due 2013.

The issue size will be Euro 425 million, considerably in excess of the Euro 300
million envisaged at the time of launch. The rate of interest will be 8.625%,
which is lower than the indicative range of 8.75% to 9.00% given during the
roadshow. This and the increased issue size reflect the strong level of
investor interest generated. The funding will be used to extend the maturity of
EMI's existing debt; the company's overall debt facility level remains
unchanged.

Roger Faxon, chief financial officer, EMI Group, commented:

"We are delighted by the success of this senior note issue and of our recent
US$243 million convertible bond issue. We have now largely completed the
refinancing exercise that we commenced 18 months ago. The final stage will be
to replace our existing bank facility, which would otherwise mature in March
2005, with a new facility maturing in April 2007, and we expect to complete
that exercise shortly."

The expected closing date for the senior notes is October 3, 2003. Application
has been made to list the notes on the London Stock Exchange.

Contact:

EMI Group plc

Claudia Palmer, Head of Investor Relations, tel: 020 7795 7635

Amanda Conroy, Senior VP, Corporate Communications, tel: 020 7795 7529

Any investment decision in respect of the Senior Notes should be based on the
listing particulars to be published by EMI in due course. Members of the
general public will not be eligible to take part in the Senior Notes offering.
This announcement, in so far as it constitutes an invitation or inducement to
participate in the Senior Notes offering, is directed exclusively at persons
who have professional experience in matters relating to investments who fall
within Article 19(5) (Investment Professionals) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2001 (as amended) ("the Order") or
are persons falling within Article 49(2)(a) to (d) (high net worth companies,
unincorporated associations etc) of the Order (all such persons together being
referred to as "relevant persons"). This announcement, in so far as it
constitutes an invitation or inducement to participate in the offering, must
not be acted on or relied on by persons who are not relevant persons.

Stabilisation / FSMA.

The Senior Notes have not been, and will not be, registered under the US
Securities Act of 1933, as amended, or with any securities regulatory authority
of any state or other jurisdiction of the United States and, accordingly, may
not be offered or sold within the United States or to US persons (as defined in
Regulation S), except pursuant to an exemption from, or a transaction not
subject to, registration under the US Securities Act of 1933, as amended. No
regulatory authority has passed upon or endorsed the merits of the offering of
the Senior Notes or any document in relation thereto. Any representation to the
contrary is a criminal offence in the United States. Neither this announcement
nor any copy of it is for distribution, directly or indirectly, in or into the
United States or to any US person (as defined in Regulation S) or into Canada,
Australia, Italy or Japan. Any failure to comply with this restriction may
constitute a violation of Canadian, Australian, Italian or Japanese securities
laws.



END