Dolby Appoints Michael Novelly as Interim CFO

Dolby Laboratories, Inc. (NYSE:DLB), announced today that it has appointed Michael Novelly as Interim Chief Financial Officer, effective March 28, 2009. Novelly stepped into the Interim CFO role at the same time that Dolby’s previous CFO, Kevin Yeaman, became the company’s President and Chief Executive Officer.

Novelly joined Dolby as Vice President of Financial Planning and Analysis in 2008 and has more than 20 years of experience in accounting and finance. Prior to Dolby, Novelly was with Time Warner, Inc., as Vice President and Assistant Controller. His background includes CFO positions with Red Herring Communications, Inc., Quokka Sports, Inc., and PolyGram Television.

The company is currently conducting a search for a new CFO.

About Dolby Laboratories

Dolby Laboratories (NYSE:DLB) is the global leader in technologies that are essential elements in the best entertainment experiences. Founded in 1965 and best known for high-quality audio and surround sound, Dolby creates innovations that enrich entertainment at the movies, at home, or on the go. Visit www.dolby.com for more information.

Dolby and the double-D symbol are registered trademarks of Dolby Laboratories. S09/21133 DLB-F