An electronic book on a computer readable medium, e.g., a CD or the like, has "real-life" pre-recorded audio (preferably, in MP3 format) and visual text (preferably, in RTF format) seamlessly linked together via a linking file (preferably, in XML format) such that a reader can switch back and forth "at will" between visually reading on a computer display screen and/or listening to the book being read aloud by an actual narrator. The computer readable medium includes a reader program installed thereon and an automatic installation program. A novel process for creating the electronic book includes a creator program that may have a similar graphical user interface to the reader program. The electronic book may combine advantages of physical hard-cover books with new e-reading functionality developed by the present inventor.