GTRC Guitar Center (MM)

Guitar Center, Inc. (Nasdaq:GTRC) today announced the results of its Annual Meeting of Stockholders held April 28, 2006. There were four proposals to be decided: -- the election of a board of nine directors for the ensuing year or until the election and qualification of their respective successors; -- an amendment to the 2004 Guitar Center, Inc. Incentive Stock Award Plan to increase the number of shares that may be issued under the plan from 2,100,000 to 2,800,000; -- an amendment to Article IV of the company's Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 55,000,000 to 100,000,000; and -- the ratification of the selection of KPMG LLP as Guitar Center's independent auditors for the year ending December 31, 2006. The company's stockholders re-elected the current nine board members for one-year terms, approved both amendments and ratified the selection of KPMG LLP. 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 174 Guitar Center stores across the United States, with 131 stores in primary markets, 41 stores in secondary markets and 2 stores in tertiary markets. In addition, our Music & Arts division operates 88 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 web site, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com.