<HTML><FONT FACE=arial,helvetica><FONT SIZE=2>List,
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<BR>The latest news from Baldwin. I don't know if this will help those who still
<BR>are owed money for warranty work or not. It looks like they may still have
<BR>to wait but if the company remains in business, all claims should eventually
<BR>be paid.
<BR>
<BR>Bill Bremmer RPT
<BR>Madison, Wisconsin
<BR>
<BR>Baldwin Piano & Organ Company Secures Surety Bond
<BR>
<BR>Bond backs warranties reassuring dealers and consumers
<BR>
<BR>MASON, Ohio, June 28 /PRNewswire/ -- Baldwin Piano & Organ Company today
<BR>announced that it has purchased a warranty surety bond through ACSTAR
<BR>Insurance Company of New Britain, Connecticut. ACSTAR's financial rating by
<BR>A.M. Best is a strong ("A-"). Baldwin's warranty assurance plan backed by
<BR>the surety bond will apply to Company's products purchased on or after June
<BR>1, 2001.
<BR>
<BR>Baldwin purchased the surety bond as a means to reassure its dealers and
<BR>customers of its future and its ability to comply with its warranty
<BR>obligations during the Company's reorganization. The Company filed
<BR>reorganization under Chapter 11 of the United States Bankruptcy Code on May
<BR>30, 2001.
<BR>
<BR>"The security of a surety bond demonstrates to our dealers and customers our
<BR>commitment to provide the best manufactured pianos in the world along with
<BR>all the assurances associated with our products," said Robert Jones, chief
<BR>executive officer and president. "Baldwin Piano & Organ is known for its
<BR>quality products. We want to make sure we are able to stand behind our
<BR>products as we go through the restructuring, retaining the confidence of all
<BR>our constituents."
<BR>
<BR>A Warranty Assurance Certificate is to be delivered by the dealer to each
<BR>Baldwin buyer, at the time of purchase, of a Baldwin, Chickering or Wurlitzer
<BR>piano on or after June 1, 2001. The warranty assurance program will be
<BR>prominently displayed on dealer's floor advertisements, special tags being
<BR>attached to each piano and certificates placed on the top of each instrument.
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