SOURCE: Hollywood Studios International

October 25, 2006 15:23 ET

Arsenal Pictures Acquires Ghost Documentary Directed by Artist International Clients Zak Bagans and Nick Groff

LOS ANGELES, CA -- (MARKET WIRE) -- October 25, 2006 -- Artist International, a division of Hollywood Studios International, announced today that negotiations have been completed with Arsenal Pictures to distribute "Ghost Adventures," a documentary directed by Artist International clients Zak Bagans and Nick Groff. The documentary follows Bagans and Groff's journey into several famously haunted buildings in the state of Nevada. The supernatural phenomena captured in the documentary have already generated controversy with local Nevada news outlets as well as online. The film won the Grand Jury Prize for Best Documentary Feature at the New York International Independent Film and Video Festival and was nominated for Best Feature Film at the Eerie Horror Film Festival. Bagans and Groff are represented by Artist International Managing Director Joel Newton.

"We're very proud of Zak and Nick's accomplishment with this documentary, and excited for Artist International to continue identifying such talented emerging artists," said Hollywood Studios International CEO Steven Saxton.

Yarek Danielak, President of Arsenal Pictures, will represent "Ghost Adventures" for all global territories.

About Arsenal Pictures

Arsenal Pictures is an international distribution, production, and financing company founded by Yarek Danielak. The company focuses on building relationships with talented producers and filmmakers and helping them exploit all avenues of distribution as well as co-financing their future projects.

About Artist International Management

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

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 recently signed a letter of intent to acquire controlling interest in a feature film production/international distribution company currently with $100 million in annual productions. Due to a non-disclosure agreement, the Company cannot publicly disclose any further information regarding this transaction.

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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