SOURCE: Peace Arch Entertainment Group Inc.

November 28, 2008 10:15 ET

Peace Arch® Entertainment Annual Financial Statements

TORONTO--(Marketwire - November 28, 2008) - Peace Arch Entertainment Group Inc. (AMEX: PAE) (TSX: PAE) announces that it will be late in filing its annual financial statements for the year ended August 31, 2008. The annual financial statements are required to be filed no later than December 1, 2008. The late filing of the financial statements is a result of a requirement of the Company to audit certain production companies which will now have to be consolidated with the Company's financial results and may also require a restatement of previously released financial results. The Company has contacted the Ontario Securities Commission regarding the issue and the appropriate course of action to complete the audit. A further update will follow.

About Peace Arch Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 1,000 classic and contemporary titles. For additional information, please visit

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks include, but are not limited to, that the synergies and financial impact of the joint venture may not be realized, the competitive position of the joint venture may not be maintained, Peace Arch may not realize the anticipated benefits of the joint venture and other risks detailed on Peace Arch's periodic report filings with the Securities and Exchange Commission. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. By making these forward-looking statements, Peace Arch undertakes no obligation to update these statements for revisions or changes after the date of this release.

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