NEW YORK, Jan. 7 /PRNewswire-FirstCall/ -- The Blue Moon Group Inc. (OTC Bulletin Board: BMOO) based in Howard Beach, NY. has announced they have acquired Elvis Presley's White Knabe Grand Piano and matching bench along with other collectible mint condition musical assets including: Presley's 1966 Gibson Red SC electric guitar, his red shirt from the movie "Spinout", RCA portable tube radio given to Elvis by RCA (circa 1955), white mat gold record for "In The Ghetto", Bo Diddley's Thunderbird guitar and Stevie Ray Vaughan's stratocaster guitar. The acquisition represents Blue Moon music group's company image and enhances their corporate value in a unique fashion. Also included in the deal, a number of other "valued collectibles", like a gold and platinum record collection and Memphis Music, a music label featuring specific audio recordings of bluesman Albert King, Lash Laroo, contemporary guitarist Robert A. Johnson and Furry Lewis. The deal has been appraised at somewhere between $1.2-1.3 million and was consummated on Monday, Jan. 6, 2003. Musician/producer/songwriter Robert A. Johnson sold a portion of his unique collection and merged his record label, Memphis Music with the Blue Moon Group Inc. (BMOO). "I'm very pleased with the deal and my association with BMOO. It means I can now fully focus on my songwriting and production projects. Also, this acquisition allows for the Elvis piano to remain an American musical artifact and not head overseas. This was an ongoing concern for me and now, I can breathe easy," Johnson stated. Elvis loved his grand piano and he often played and sang for family and friends at Graceland. Two of his favorite songs were "You Lost That Lovin' Feelin'" and "Unchained Melody" which were made famous by The Righteous Brothers. Originally, the grand piano was used in Memphis' Ellis Auditorium from the early '30's through 1957 and during that period, the white Knabe was played by such artists as W.C. Handy, Duke Ellington, Count Basie and Cab Calloway. Elvis purchases the piano in '57 and has it refurbished to his personal specifications. The white Knabe piano was the centerpiece of the Music Room at Graceland until 1969. When Priscella gave Elvis a new gold-leafed piano, the white Knabe piano was placed in storage. Between 1976-1981, the white Knabe piano was sold (circa 1976) by Vernon Presley to Sturges Recording Studio in Memphis where it was used in recording over 50 albums by various artists including Jerry Lee Lewis. Jimmy Velvet bought the piano in '81 and it stayed in his museum until 1990, where it remained until a private individual purchased it. The "Elvis white piano" remained "privately owned" until now. The piano was recently refurbished by C.B. Coltharp and has been completely restored. He referred to old photos of Graceland and record jacket snapshots to restore the piano to its original authentic 1957 stature. The entire restoration process took almost half a year to complete. The acquisition of Elvis' white Knabe grand piano and the other mint condition collectibles are the latest in a series of celebrity memorabilia buy-outs: Elvis' draft card was sold for $22,500 and a jumpsuit of his went for $65,000 (1999), George Michael bought John Lennon's piano for over $2 million (2000), Marilyn Monroe's baby grand sold for over $660,000 (1999), Jerry Garcia's guitars sold for $2 million (2002) and Eric Clapton's 'Layla Fender Stratocaster' sold for almost $700,000 (1999). Mike Muzio, President of Blue Moon Group, Inc. summed it up saying, "My background is on Wall Street and today, running a music company is strictly business and entertainment combined. A sound American company like BMOO has to have assets to insure its stockholders security of investment. This is an epic day for the company and we have plans to utilize the memorabilia in an honorable and astute manner. Stay tuned this is only the beginning." CONTACT: MIKE MUZIO - CEO 1-866-284-3900 GEORGE DASSINGER- PUBLIC RELATIONS firstname.lastname@example.org BLUE MOON GROUP INC (OTCBB: BMOO) 158-49 90 STREET HOWARD BEACH, NY 11414 Safe Harbor Statement: Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in the release that are not historical are forward-looking statements, that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements n., including but not limited to, certain delays and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. SOURCE Blue Moon Group, Inc.