Guitar Center & Fender(R) Joined Forces to Sell Out 185 Tribute Series Eric Clapton BLACKIE(R) Stratocaster(R) Guitars in Only 7

  
    
  
  
    
      Guitar Center, Inc. (Nasdaq:GTRC), America’s 
      leading musical instrument and professional audio retailer, today 
      announced that 185 meticulously crafted recreations of the Fender® 
      Stratocaster® guitar, once owned by Eric 
      Clapton and known as BLACKIE®, 
      sold out in approximately 7 hours on “Black 
      Friday.”
    
    
      The 185 guitars earmarked for the U.S. market were offered for sale 
      starting Friday, November 24, 2006 at precisely 10 a.m. EST, 9 a.m. CST, 
      8 a.m. MST and 7 a.m. PST, and were sold strictly on a first come, first 
      served basis through Guitar Center’s more 
      than 195 U.S. retail locations. Within the first two minutes, 106 of the 
      Tribute Series BLACKIE® 
      Stratocaster guitars had been sold to eager aficionados, each at a price 
      of $20,000. In just over 7 hours, the remaining guitars were completely 
      sold.
    
    
      A significant portion of the proceeds will benefit Eric Clapton’s 
      Crossroads Centre in Antigua, an internationally recognized treatment 
      center for addiction, founded by Clapton.
    
    
      “I am delighted to hear that the replica of 
      BLACKIE®, 
      which was a guitar very special to me, has proved to be such a success 
      and that the project will help support The Crossroads Centre, Antigua 
      and in particular the new transitional living facility that Crossroads 
      is in the process of acquiring in Delray Beach, Florida,” 
      said Eric Clapton.
    
    
      Guitar Center’s Vice President of 
      Merchandising, Guitar Division, Keith Brawley, stated “Everyone 
      at Guitar Center is extremely proud of our association with Eric Clapton 
      and Fender® 
      and we’re excited for all the players and 
      collectors who will enjoy these incredible instruments. We are very 
      pleased with the success of this limited edition sales event at our 
      Guitar Center stores kicking off the holiday season. We are equally 
      delighted our efforts will additionally result in a charitable donation 
      to support the Crossroads Centre.”
    
    
      Commenting on the success of BLACKIE® 
      project, Alan Waite, Sr. V.P. Sales – USA & 
      Canada for Fender Musical Instruments stated, “Without 
      the creative genius of Eric Clapton, the extraordinary commitment of 
      Guitar Center, and the dedication of the people at Fender, this historic 
      occasion could not have happened.”
    
    
      BLACKIE®, a 
      mid-1950s Fender Stratocaster® 
      guitar pieced together by Clapton himself from numerous individual 
      Fender guitars, was Clapton’s main instrument 
      throughout the 1970s and ’80s. Clapton’s 
      albums 461 Ocean Boulevard, Slowhand, No Reason to Cry 
      and Just One Night, among others, were all recorded with BLACKIE®. 
      In addition to memorable solo tours, Clapton and BLACKIE® 
      shared the stage with the likes of Pete Townshend, the Rolling Stones, 
      Bob Dylan, Muddy Waters and The Band.
    
    
      Purchased by Guitar Center as one of four classic Clapton-owned guitars 
      at an historic Christie’s auction, this rock 
      & roll icon was brought by the Company to Fender’s 
      renowned Custom Shop in Corona, California, where Fender’s 
      experienced Master Builders meticulously replicated BLACKIE® 
      down to the smallest of details — from the 
      worn-to-the-wood body, to the neck re-shaped by Eric’s 
      hand as he played a thousand heartfelt solos, to the unmistakable 
      cigarette burns on the headstock. Their precision extended to 
      reproducing the legendary distressed #50 “Duck 
      Bros” road case complete with stenciled 
      London phone number 01 486 8056 and artificially aging the finish to 
      ensure an authentic vintage look. Clapton himself approved this 
      incredible accomplishment, as indicated on a Certificate of Authenticity 
      personally signed by Eric Clapton himself.
    
    
      About Guitar Center
    
    
      Guitar Center is the leading United States retailer of guitars, 
      amplifiers, percussion instruments, keyboards and pro-audio and 
      recording equipment. Our retail store subsidiary presently operates more 
      than 195 Guitar Center stores across the United States. In addition, our 
      Music & Arts division operates more than 90 stores specializing in band 
      instruments for sale and rental, serving teachers, band directors, 
      college professors and students. We are also the largest direct response 
      retailer of musical instruments in the United States through our wholly 
      owned subsidiary, Musician's Friend, Inc., and its catalog and website, www.musiciansfriend.com. 
      More information on Guitar Center can be found by visiting the Company’s 
      web site at www.guitarcenter.com.
    
    
      The Guitar Center logo is a registered trademark of Guitar Center, Inc. 
      Other brand or product names may be trademarks of the respective 
      companies with which they are associated.
    
    
      About Fender Musical Instruments Corporation
    
    
      Fender Musical Instruments Corporation (FMIC) is the world’s 
      foremost manufacturer of guitars, amplifiers, and related equipment. 
      Since 1946, the name Fender® 
      has become synonymous with all things rock ‘n’ 
      roll: from Buddy Holly to Jimi Hendrix to Eric Clapton to Kurt Cobain 
      and everything in between. Fender’s iconic 
      instruments such as the Telecaster®, 
      Stratocaster®, Precision Bass® 
      and Jazz Bass® guitars are known the world 
      over as the instruments that started the rock revolution, and they 
      continue to be highly prized among today’s 
      hottest guitarists and collectors alike. FMIC markets using the brand 
      names Fender®, Squier®, 
      Guild®, Gretsch®, 
      Jackson®, Charvel®, 
      SWR®, Tacoma®, 
      Olympia® and Brand X®. 
      More information on FMIC can be found by visiting the Company's web site 
      at www.fender.com.
    
  
Guitar Center, Inc. (Nasdaq:GTRC), America's leading musical
instrument and professional audio retailer, today announced that 185
meticulously crafted recreations of the Fender(R) Stratocaster(R)
guitar, once owned by Eric Clapton and known as BLACKIE(R), sold out
in approximately 7 hours on "Black Friday."

   The 185 guitars earmarked for the U.S. market were offered for
sale starting Friday, November 24, 2006 at precisely 10 a.m. EST, 9
a.m. CST, 8 a.m. MST and 7 a.m. PST, and were sold strictly on a first
come, first served basis through Guitar Center's more than 195 U.S.
retail locations. Within the first two minutes, 106 of the Tribute
Series BLACKIE(R) Stratocaster guitars had been sold to eager
aficionados, each at a price of $20,000. In just over 7 hours, the
remaining guitars were completely sold.

   A significant portion of the proceeds will benefit Eric Clapton's
Crossroads Centre in Antigua, an internationally recognized treatment
center for addiction, founded by Clapton.

   "I am delighted to hear that the replica of BLACKIE(R), which was
a guitar very special to me, has proved to be such a success and that
the project will help support The Crossroads Centre, Antigua and in
particular the new transitional living facility that Crossroads is in
the process of acquiring in Delray Beach, Florida," said Eric Clapton.

   Guitar Center's Vice President of Merchandising, Guitar Division,
Keith Brawley, stated "Everyone at Guitar Center is extremely proud of
our association with Eric Clapton and Fender(R) and we're excited for
all the players and collectors who will enjoy these incredible
instruments. We are very pleased with the success of this limited
edition sales event at our Guitar Center stores kicking off the
holiday season. We are equally delighted our efforts will additionally
result in a charitable donation to support the Crossroads Centre."

   Commenting on the success of BLACKIE(R) project, Alan Waite, Sr.
V.P. Sales - USA & Canada for Fender Musical Instruments stated,
"Without the creative genius of Eric Clapton, the extraordinary
commitment of Guitar Center, and the dedication of the people at
Fender, this historic occasion could not have happened."

   BLACKIE(R), a mid-1950s Fender Stratocaster(R) guitar pieced
together by Clapton himself from numerous individual Fender guitars,
was Clapton's main instrument throughout the 1970s and '80s. Clapton's
albums 461 Ocean Boulevard, Slowhand, No Reason to Cry and Just One
Night, among others, were all recorded with BLACKIE(R). In addition to
memorable solo tours, Clapton and BLACKIE(R) shared the stage with the
likes of Pete Townshend, the Rolling Stones, Bob Dylan, Muddy Waters
and The Band.

   Purchased by Guitar Center as one of four classic Clapton-owned
guitars at an historic Christie's auction, this rock & roll icon was
brought by the Company to Fender's renowned Custom Shop in Corona,
California, where Fender's experienced Master Builders meticulously
replicated BLACKIE(R) down to the smallest of details -- from the
worn-to-the-wood body, to the neck re-shaped by Eric's hand as he
played a thousand heartfelt solos, to the unmistakable cigarette burns
on the headstock. Their precision extended to reproducing the
legendary distressed #50 "Duck Bros" road case complete with stenciled
London phone number 01 486 8056 and artificially aging the finish to
ensure an authentic vintage look. Clapton himself approved this
incredible accomplishment, as indicated on a Certificate of
Authenticity personally signed by Eric Clapton himself.

   About Guitar Center

   Guitar Center is the leading United States retailer of guitars,
amplifiers, percussion instruments, keyboards and pro-audio and
recording equipment. Our retail store subsidiary presently operates
more than 195 Guitar Center stores across the United States. In
addition, our Music & Arts division operates more than 90 stores
specializing in band instruments for sale and rental, serving
teachers, band directors, college professors and students. We are also
the largest direct response retailer of musical instruments in the
United States through our wholly owned subsidiary, Musician's Friend,
Inc., and its catalog and website, www.musiciansfriend.com. More
information on Guitar Center can be found by visiting the Company's
web site at www.guitarcenter.com.

   The Guitar Center logo is a registered trademark of Guitar Center,
Inc. Other brand or product names may be trademarks of the respective
companies with which they are associated.

   About Fender Musical Instruments Corporation

   Fender Musical Instruments Corporation (FMIC) is the world's
foremost manufacturer of guitars, amplifiers, and related equipment.
Since 1946, the name Fender(R) has become synonymous with all things
rock 'n' roll: from Buddy Holly to Jimi Hendrix to Eric Clapton to
Kurt Cobain and everything in between. Fender's iconic instruments
such as the Telecaster(R), Stratocaster(R), Precision Bass(R) and Jazz
Bass(R) guitars are known the world over as the instruments that
started the rock revolution, and they continue to be highly prized
among today's hottest guitarists and collectors alike. FMIC markets
using the brand names Fender(R), Squier(R), Guild(R), Gretsch(R),
Jackson(R), Charvel(R), SWR(R), Tacoma(R), Olympia(R) and Brand X(R).
More information on FMIC can be found by visiting the Company's web
site at www.fender.com.