Libra Securities, LLC 11766 Wilshire Blvd., Suite 870 Los Angeles, CA 90025

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Exhibit 99.7

Libra Securities, LLC
00000 Xxxxxxxx Xxxx., Xxxxx 000
Xxx Xxxxxxx, XX 00000

YouthStream Media Networks, Inc.
Network Event Theater, Inc.
000 Xxxxxxx Xxxxxx
XXX #000
Xxx Xxxx, XX 00000
Attn: Xx. Xxxxxx Xxxxx, Chairman

Ladies and Gentlemen:

        This letter will confirm that the agreement between us dated May 9, 2002 is terminated and all rights and obligations thereunder are discharged (other than YouthStream Media Networks, Inc.'s and Network Event Theater, Inc.'s obligations under Section 5 Indemnification, and Exhibit A thereof).

		Very truly yours, LIBRA SECURITIES, LLC
		By:	/s/   Xxxx X. Xxxxxx, Chief Executive Officer
Accepted and Agreed: YOUTHSTREAM MEDIA NETWORKS, INC.
By: /s/   Title: Chairman
NETWORK EVENT THEATER, INC.
By: /s/   Title: Director

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Exhibit 99.7

Libra Securities, LLC Letter