PRINCE SIGNS WITH UNIVERSAL RECORDS; NEW ALBUM, 3121, SCHEDULED FOR RELEASE IN 2006

PRINCE AND SALMA HAYEK'S "TÈ AMO CORAZÓN" VIDEO DEBUTS TODAY ACROSS ALL OF VH1'S TELEVISION, BROADBAND AND WIRELESS PLATFORMS

Announcing his new musical home, musical superstar Prince has signed an exclusive recording agreement with Universal Records, it was announced today by Doug Morris, chairman & CEO of Universal Music Group, Mel Lewinter, chairman of Universal Motown Records Group, Monte Lipman, president of Universal Records, and Prince. His first release on Universal Records, an album entitled 3121, is set to debut in 2006. Concurrently, VH1 will today shepherd the first audiovisual installment from his forthcoming album, the Salma Hayek-directed video, "Tè Amo Corazón" ("I Love You, Sweetheart"), marking the world's first-ever multiplatform worldwide exclusive premiere of a music video.

"'The entire Universal Music Group family is thrilled to have the opportunity to work with such a visionary and charismatic talent as Prince," stated Universal's Doug Morris. "Prince is one of popular music's greatest architects," added Monte Lipman. "He is the embodiment of what musical artistry and talent is all about; he continues to be a major trendsetter whose many talents have always earned him the highest respect and praise."

Prince will premiere "Tè Amo Corazón" today across all of VH1's platforms: television, broadband and wireless. This unique event will premiere simultaneously today, at 11:00 p.m. (ET/PT/global), on VH1, VH1 Classic, VHUNO, Tempo, VH1 Soul as well as VH1.com through VH1's broadband channel Vspot and through VH1 Mobile through its partnership with Verizon's VCast service. The gorgeous and decadent location of Marrakesh, Morroco provided the backdrop for the incredibly lush ballad and video featuring Prince and Mia Maestro, directed by Salma Hayek.

"VH1 is honored to present this unprecedented multimedia experience with a legendary innovator like Prince," commented Tom Calderone, general manager of VH1.

"Salma heard the song and came up with the original concept," Prince said. "Salma is the most thoughtful, attentive director I have ever worked with. An absolute joy."

Prince's rise to fame was nothing short of meteoric, from a buzzed-about musician (with the release of his first album, 1979's For You) to arguably one of the most acclaimed and influential artist of the 20th century. USA Today has hailed him as "one of the most daring and brilliant artists," just one of the many accolades bestowed on Prince by both critics and peers throughout his career. In fact, a chorus of acclaim literally exploded with the release of the Minnesota native's world-changing, 1984 dual phenomenon of Purple Rain (the movie broke box office records, the Grammy-nominated album sold more than 11 million copies and spent 24 weeks at #1), making Prince one of the few triple-threats in history to simultaneously land the #1 single, album and movie. His plaintively brilliant single, "When Doves Cry," the first of many Top Tens, exemplified the kind of transformational musical current that only Prince could deliver. To top it off, he won the "Best Original Score" Academy Award for Purple Rain. A series of seminal albums - from 1985's Around The World In A Day to 1987's prophetic Sign o' the Times, to 1989's Batman soundtrack to 1991's Diamonds And Pearls, indelibly cemented his reputation as a 21st century impresario, and a fearless pursuer of the musical stratosphere.

With more than 60 million records sold, Prince launched his web-centric NPG Music Club, a groundbreaking, completely autonomous Prince-authorized nexus, emphasizing direct sales and value-added content for Prince fans and subscribers, a virtual template of the kind of online, artist-driven entrepreneurial models artists and internet gurus would be gravitating towards the close of the decade. More groundbreaking albums followed, with Prince himself stewarding their marketing and promotion. A varied array of label distribution deals were interspersed throughout, with major imprints such as EMI, Arista and Columbia, forming temporary but fruitful relationships with the evocative artist.

Last year saw the cultural icon command the mainstream music radar with a vengeance, releasing the critically and commercially acclaimed Musicology (the disc snagged two Grammys), being inducted to the Rock n' Roll Hall Of Fame, and rolling out one of the most successful, talked about tours in music history, (Pollstar Magazine crowned him a top concert draw for the year) coinciding with the two-decade anniversary of his masterpiece Purple Rain. Prince also won an NAACP Image award in 2004 and was most recently inspired to write two songs to benefit Hurricane Katrina victims, "S.S.T." and "Brand New Orleans," both of which are available on NPGMusicClub.com.