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BEVERLY HILLS, CA--(MARKET WIRE)--Mar 25, 2008 -- Empire Film Group, Inc. (Other OTC:EFGU.PK - News) ("Empire Film") (http://www.empirefilmgroup.com) has entered into an agreement with The Colla Company for the North American distribution rights to the Steven J. Silverman comedy, "Wishing Well," slated for production this summer and fall. The romantic comedy has been described as a cross between "My Big Fat Greek Wedding" and "Heaven Can Wait" in its blending of supernatural elements with pre-wedding jitters, and is expected to attract a major cast. "This is a terrific screenplay that should make for an extremely commercial movie," said Eric Parkinson, CEO of Empire Home Entertainment, the distribution division of Empire Film Group. "The story has broad audience appeal, the characters are very likable and the situation is comedic and fresh. 'Wishing Well' has the potential to be a true breakout release." "Wishing Well" was written by Steven J. Silverman and developed for production by Denise Colla and partner Richard Colla, whose 40 year career as both producer and director spans dozens of film and television classics such as "Battlestar Galactica," "CHiPs," "Miami Vice," "Murder She Wrote," and "Star Trek: The Next Generation." Denise and Richard Colla will produce "Wishing Well," and are considering several high-profile candidates as director. Under the terms of the agreement, "Wishing Well' will be supported with a major theatrical release in the United States from Empire Film Group, with The Colla Company coordinating the financing and production of the movie. The production of the film is budgeted at $8 million and is expected to be shot in New Mexico. "The addition of 'Wishing Well' to Empire's theatrical line-up for 2008 and 2009, elevates Empire to the top tier of all independent studios in terms of total number of high-profile, theatrical films," said Dean Hamilton-Bornstein, CEO of Empire. "We think that 'Wishing Well' has all the right elements to connect with audiences and deliver great results for all parties." 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 25 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 theatre circuits, mass merchants, video specialty retailers and internet sellers of home entertainment products. Learn more about Empire Film Group by visiting www.empirefilmgroup.co 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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