SOURCE: Target Development Group, Inc

December 31, 2009 14:16 ET

Hannover on Target for Major Title Acquisitions

SPRINGDALE, AR--(Marketwire - December 31, 2009) - Hannover House, the film and video distribution division of Target Development Group, Inc. (PINKSHEETS: TDGI) (Other:,, is closing in on the acquisition of distribution rights for three additional feature films described by the company as "major profile releases with significant commercial value for the theatrical, video and television markets."

These new titles will supplement the company's existing release slate of approximately 30 video releases, 4 theatrical releases and 5 new release book properties already set for release during 2010. Hannover will also implement several catalog sales promotions in support of the company's extensive library of DVD and Blu-ray properties.

"We're encouraged by the quality and quantity of new films being offered to Hannover House now that we've joined forces with Target Development Group," said C.E.O. Eric Parkinson. "The company is uniquely positioned to provide access to theaters, video retailers and television outlets throughout North America, and our management team is known and respected within the industry. The marriage of Hannover House into Target was the catalyst for obtaining new credit funding and off-balance-sheet financing opportunities that have made the acquisition of major titles both realistic and obtainable."

Each of the four theatrical titles already acquired by Hannover House and Target Development Group will be individually announced during January. Pending approval from licensors, Hannover and Target plan to announce details of new acquisition titles at the Sundance Film Festival, occurring in late January in Park City, Utah.

The corporate websites for both Hannover House and Target Development Group have been substantially updated and redesigned, but have not yet been published live onto the internet as the company awaits formal announcement of each of the key titles. Additionally, the company plans to post consolidated 2009 year-end results by Friday, January 8, along with a management discussion and revenue forecasts for Q1, 2010.

"This is an exciting time for Hannover and Target," Parkinson continued. "Producers and program rights owners are actively seeking deals with us which will enable us to achieve our goals more quickly than originally anticipated."


This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.

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