SOURCE: Hollywood Studios International

June 06, 2007 20:13 ET

Hollywood Studios International Signs MOU to Launch New Chinese Operations With $25 Million Seed Capital. Tariq Nizami Named Executive Director.

DUBAI, UAE--(Marketwire - June 6, 2007) - Hollywood Studios International (PINKSHEETS: HYWS) has announced the company's expansion to China through the current structuring of a strategic joint venture. The Memorandum of Understanding includes $25 million of seed capital to launch a new Chinese entertainment company. Hollywood Studios International will be the managing partner of this new venture.

Within this structure, Hollywood Studios International will launch a China-based production company with a mandate to co-produce English language projects with Chinese content for an international audience. The deal includes a partnership with Hollywood Studios International's talent management brand, Artist International, to represent writers, directors, actors, and entertainment properties from the region for English language content.

The deal was structured in Dubai by Hollywood Studios International's CEO Steven Saxton and Tariq Nizami, who will also serve as the Executive Director for the new venture.

"Tariq Nizami has been a valuable asset to Hollywood Studios International and will continue to be an important aspect of the expansion of Hollywood Studios International and Artist International," said Saxton at the announcement. While in Dubai, Saxton and Nizami also met with Gao Youzhen the Consulate General of the People's Republic of China.

About Tariq Nizami

Tariq Nizami has more than twenty-four years of experience in the fields of real estate, trading and information technology. Now, based in Dubai and Shanghai, Mr. Nazami is the CEO of F Kamber Holdings, a holding company which has interests in real estate, gold & diamonds, trading, travel, entertainment, shipping, and information technology. Nizami has recently completed deals in China and Dubai totaling more than $500 million (US). Some of these deals include an oil refinery in China and multiple real estate deals in Dubai. Nizami recently eased the parking woes of Dubai by teaming with The Voltech Group of China to construct an electrical parking structure system throughout the city.

Tariq Nizami acquired Bachelors & Masters degrees while studying in the United States and has also completed multiple Real Estate certifications from all regions of the world. He is now focused on the Dubai market and exploring and attracting worldwide investors to the new Dubai. Mr. Nizami has conducted "Dubai Freehold Property Seminars" in the USA & Canada, and is also active in the Dubai community, several NGOs, and leads the CEO Clubs, UAE.

About Artist International (www.artistint.com)

Artist International Management provides professional representation to actors, models, writers, directors, athletes, music performers, artists, and other entertainment properties. Our four divisions -- music, literary, sports, and talent -- operate with the singular focus of understanding the goals and gifts of our clients and maximizing their potential through our efforts.

About Hollywood Studios International (www.hsifilms.com)

Hollywood Studios International, an entertainment holding company, exists to create award-winning entertainment which succeeds both artistically and commercially through the inherent synergies of combining elements of a traditional studio system with the structure of artist management. The Company has recently completed a financial audit and is filing the appropriate paperwork to begin trading in the US (PINKSHEETS: HYWS). Current subsidiaries and divisions include Artist International Management, Doc Hollywood Kidz, Doc Hollywood Records, and Bop City Records. The Company is currently structuring the financing for the acquisition of a feature film production/international distribution company.

Forward-Looking Statements:

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Hollywood Studios International believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objective and plans of the Company will be achieved.

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