SOURCE: Hollywood Studios International

October 22, 2007 11:19 ET

Hollywood Studios International to Acquire Mark Damon's Foresight Unlimited

ABU DHABI, UAE--(Marketwire - October 22, 2007) - Hollywood Studios International (PINKSHEETS: HYWS) CEO Sir Steven Saxton and legendary Producer Mark Damon jointly announced today that they have signed a Letter of Intent for Hollywood Studios International to acquire Damon's production and distribution company, Foresight Unlimited. Upon completion of the acquisition, Damon and Saxton will serve as Co-Chairmen of the Hollywood Studios International's Board of Directors.

The announcement was made while both attended the Middle East International Film Festival in Abu Dhabi, UAE. Damon is speaking at MEIFF as a moderator for a panel discussion on international co-productions and film financing.

"Mark has consistently been on the cutting edge of innovation in the field of international distribution and film financing. When anticipating an acquisition in this sector, we felt that his experience and insight would be priceless as we navigate the significant shifts in the market over the coming years," said Saxton at the announcement.

"HSI's holdings are very diverse. To combine their artist management business with Foresight's production and financing capabilities and Foresight's foreign sales arm should create a formidable leader in independent packaging and financing of feature films. The strong slate of productions that Foresight has will benefit from the financial strength and talent relations that HSI brings to the table," commented Damon.

Hollywood Studios International first made headlines in the Gulf Region when the Company announced its plans for an IPO on the DIFX.

Now, with the acquisition of Foresight Unlimited, Hollywood Studios International plans to domicile the international distribution division in either Abu Dhabi or Dubai.

About Mark Damon and Foresight Unlimited

Credited with having invented the foreign sales business and considered one of the world's leading authorities on international distribution, Damon has played a successful role in various facets of the entertainment industry for over 50 years. His first 20 years were devoted to his acting career during which time he starred in 50 feature films. Among his more notable efforts was the cult-classic "The Fall of the House of Usher," for which he won a Golden Globe. Over the next three decades, Mark was integral in the financing and international sales of over 300 profitable films including "Prizzi's Honor," "Once Upon a Time in America," and "Cotton Club," as well as producing "Das Boot" (nominated for six Oscars) and over 70 films including "9 1/2 Weeks," "Short Circuit," "The Lost Boys," "The NeverEnding Story," "Rudyard Kipling's The Jungle Book," "The Upside of Anger," and Oscar-Winning "Monster."

Currently, Foresight Unlimited, Damon's new company, is administering worldwide licensing for several upcoming releases which include: "Hangman," a high concept thriller to be directed by Harold Becker ("Sea of Love," "Domestic Disturbance"); "Ticket To Ride," with an offer out to Jet Li for the starring role; "Once Upon a Time in Hong Kong," with an offer out to Mark Wahlberg; "The Ledge," a dramatic thriller that is now being cast; and "Beyond a Reasonable Doubt," to be directed by Peter Hyams ("Time Cop," "Running Scared").

About Hollywood Studios International

Hollywood Studios International (www.hsifilms.com), 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. Upon completion of the current round of private funding, the Company plans to file 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 has signed an LOI to acquire Foresight Unlimited, a 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.

Contact Information

  • Contact:

    US:
    Joel Newton
    (310) 358-9007
    press@hsifilms.com

    Middle East:
    Steven Saxton
    +971 50 702-2475