Aussie rock purists You Am I have friends in high places. |

Those chums include Oasis mainman Noel Gallagher, who was recently spotted bouncing around madly at one of the band's typically cathartic shows.

Yet despite Gallagher's praise ("my favorite colonial band"), showstopping American performances at both CMJ and Lollapalooza and a recent support slot on Oasis' Australasian tour, You Am I seem unable to set up an overseas deal that will elevate them from critics' darlings to chart-toppers.

Just as their creatively titled fourth album, You Am I's #4 Record, was set to drop in the U.S., the alternative power trio severed ties with Warner Bros. And the label -- who released the band's first three albums, Sound As Ever, Hourly, Daily and Hi Fi Way -- isn't happy.

"We're deeply disappointed," Warner Bros. spokesman Rick Gershon said. "They asked to be released from the label and are being solicited by other labels."

Interestingly, Warner Bros. had big plans for the record. "A heavyweight studio team was selected largely by Warners, of producer George Drakoulias (Black Crowes, Screaming Trees), mixer Jack Joseph Puig (Eric Clapton, Weezer), and engineer Jim Scott (Sting, Rolling Stones), for You Am I's #4 Record," the band's L.A.-based manager, Todd Wagstaff, recently told JAMTV.

Wagstaff went on to say that the label was set to make the record a top priority since the band had already made big inroads in Japan, Southeast Asia and Europe through constant touring.

Then the wheels fell off.

Wagstaff revealed that Warner Bros. was in a state of flux prior to the release of You Am I #4, and the band simply was not ready to release the album under those circumstances. "You Am I requested a release from the Warner Bros license agreement, and in an effort to do the right thing by the band it was agreed to," he said.

Once the label freed You Am I from their contract, other interested labels moved in en-masse. At a recent show at Brownie's in Manhattan, the band put on a grandstanding set -- equal parts Jon Spencer fury and Who-like pop-rock muscle. Not coincidentally, representatives from many labels, including Epic, Columbia, Dreamworks, Interscope, Geffen, Mercury, Almo, V2 and Island, were present. And the mania continued at subsequent shows in London, according to Wagstaff.

"Five hundred people were turned away from the venue after the 'full house' sign went up just 15 minutes after the doors opened."

According to Wagstaff, You Am I are keen to sign with a BMG-linked label stateside (in Australia they're with Ra Records, a BMG offshoot), but at press time, no deal had been inked. The band are currently touring their homeland. (Jeff Apter)