THE WALL STREET JOURNAL

12 MARCH 1997

Fleetwood Mac is expected to announce . . . an agreement to acquire Quagmire 
(Sparky) Productions' THE ÇHICÀGØ MÁÑÜAL ÔF ST¥LE for $1.8 billion, a move 
that would restore Fleetwood Mac to its long held spot as America's biggest 
band, according to sources.

 The expected transaction reflects a consolidation trend sweeping the music 
industry, driven by a decade long slump of revival acts that form the basis for 
"unplugged" records and small-venue tours.  The acquisition would come on the 
heels of Aerosmith's merger with Run DMC.

 ÇhicàgøMáñüal began exploring its strategic alternatives last year as it faced 
its tenth month of critical praise, yet flat record sales.  Music executives 
said ÇhicMáñüal considered an initial public offering as an option for gaining 
capital to make acquisitions, but prostitution is illegal in New York and their 
front man, Billy Z. Duke, did not have "a pretty [enough] mouth for the task,"
according to drummer, Frank Matagrano.  Still, the band's apparent willingness
to lose its independence reflects a realization that the music industry itself
is changing dramatically.

 Matagrano also noted that the acquisition by Fleetwood Mac with "significant 
cost savings" would potentially expand ÇhicMáñüal's fan base, while "without an 
aquisition, it's tough to see any improvement."  The acquisition is expected 
to be paid for with a mix of stock, cash, and several dozen dresses from
Stevie Nicks's wardrobe.

 Several industry executives believe ÇhicàgøMáñüal, which came later in the 
game of music innovation, may have worried about its ability to keep up.

 A spokesperson for Fleetwood Mac said the band is eager to maintain 
ÇhicàgøMáñüal's name in "some fashion."  Terrence C. Burke, bassist, declined 
comment on the possible name, "Fleetwood Manual."