The lost demo album Velvet Underground used to land a record deal back in the late 1960s has been discovered in a record bin at a New York flea market.

The acetate contains alternative mixes of the group's early hits like HEROIN and VENUS IN FURS, which became instant classics on their eponymous 1967 debut with Nico.

UNIVERSAL bosses are currently negotiating with the lucky fan who discovered the record, and bought it for just 75 cents (GBP0.39) with a view to releasing it on CD.

16/12/2004 05:47