Rome, July 17, 2007—The Rome office of Shearman & Sterling has assisted Dada USA, Inc. and Dada S.p.A. in the execution of a joint venture agreement establishing a joint venture between Dada USA, Inc. and Sony BMG Music Entertainment, which will be known as Dada Entertainment LLC.

The mission of this joint venture, which was announced yesterday, is to create a market leader in direct-to-consumer digital and mobile entertainment and integrated Web 2.0 community services. Dada Entertainment will be 50% owned by each of Dada USA, Inc. and Sony BMG Music Entertainment.

The transaction, which is expected to occur in the third quarter of 2007, is subject to customary regulatory approvals and third party consents.

The Shearman & Sterling team acting on this transaction included partner Michael Bosco (RO-CM/MA), counsel Lisl Dunlop (NY-AT), senior associate Tobia Croff (RO-MA), associates Andrea De Pieri (RO-MA), and Michael Saller (BR-AT) and trainee Maria Antonietta Romeo (RO-CM/MA).