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BEVERLY HILLS, CA--(MARKET WIRE)--Feb 1, 2008 -- Empire Home Entertainment, the distribution division of Empire Film Group, Inc. (Other OTC:EFGU.PK - News) ("Empire Film") (http://www.empirefilmgroup.com), has finalized an agreement to acquire the USA distribution rights for both the Elite Entertainment and the Focusfilm libraries, collectively representing more than 60 feature film and DVD multi-pack items. Empire will commence marketing and distribution of both libraries in April, and predicts strong retailer support. These two libraries are a significant acquisition for Empire and our growing position as a leading, independent studio," said Eric Parkinson, CEO of Empire Home Entertainment. "There are numerous commercially strong and proven titles in these two libraries that will deliver significant revenues for us in the coming years. We are pursuing several other large film libraries as part of our mandate to quickly build Empire's stature in the industry." "We are building Empire Film Group by combining the commercial appeal of our major, theatrical productions with the strong revenue base to be realized from these multi title film libraries," said Dean Hamilton Bornstein, CEO of parent company Empire Film Group, Inc. "With these new titles from Elite and Focusfilm added to our existing properties from Empire and Hannover House, we now own or control over 170 titles, making Empire the fastest growing independent studio in years." Some of the titles from Elite and Focusfilm include the acclaimed Christopher Walken sci-fi thriller, "Communion," "The Howling 3" and "Boggy Creek II: The Legend Continues," which is the sequel to "The Legend of Boggy Creek" which sold nearly 2-million videos in the U.S. market. New release titles that will debut on DVD under the Empire venture include the sci-fi thriller "Devil Girl," the television series boxed set "Dark Dreamers" and "The Dr. Jekyll and Mr. Hyde Rock 'N Roll Musical." Other library items include best-selling genre multi-packs such as "Masterworks of German Cinema" 3-pack which includes "Nosferatu," "The Cabinet of Dr. Caligari" and "The Golem" and other value-priced, multi-DVD pack configurations that have become one of the top-selling DVD formats for mass merchants. Empire will pursue placement of most items with its key accounts, including Wal-Mart, Best Buy, Target and numerous other DVD retail chains and internet sellers. The library acquisition venture was negotiated between Vini Bancalari, President of both Elite Entertainment, Inc. and Focusfilm, with Empire Home Entertainment CEO Eric Parkinson. About Empire Film Group, Inc. Empire Film Group, Inc. ("EFG") is a new independent film finance, production, and distribution company led by a management team with over 20 years of experience in development, production, distribution, finance and marketing of feature films and television programming. Through its acquisition of Truman Press, Inc., d/b/a "Hannover House," Empire is also a fully integrated film, DVD and book distributor, with sales relationships for placement of products into all major USA retail chains. Learn more about Empire Film Group by visiting www.empirefilmgroup.com CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
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