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Liquid Audio Appoints Michael Bolcerek As CFO

Liquid Audio has announced the appointment of Michael R. Bolcerek as chief financial officer and senior vice president of finance.

In this position, Bolcerek will be responsible for the company’s strategic and financial planning processes, financial reporting, and investor relations. Bolcerek will have his hands full, as the Internet economy continues to slide. Liquid Audio has in the past three months seen a slow decline in its stock price, entering February with a price of roughly $4 per share and closing April at just more than $2 per share. On May 10, 2001, Liquid Audio is scheduled to announce its financial results for the first quarter ended March 31, 2001.

Bolcerek previously served as COO and vice president of finance for Mongomusic, an online music service provider that was acquired by Microsoft in November 2000. He combines a digital music industry background with 15 years of experience in senior financial and operational positions with companies such as Oracle, NeXT, Nokia, and Hyundai.

“Michael’s unique blend of digital music experience and strategic, operational and financial planning skills will be a strong addition as our distribution business continues to develop,” said Gerry Kearby, president and CEO of Liquid Audio.Ý

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