SOURCE: Consolidated Pictures Group, Inc. (Leonidas Films, Inc.)

June 15, 2009 09:50 ET

Consolidated Pictures Group, Inc. (Formerly Leonidas Films, Inc.) Completes Reorganization and Recapitalization

HOLLYWOOD, CA--(Marketwire - June 15, 2009) - Consolidated Pictures Group, Inc. (PINKSHEETS: CPGU) announced today that it has completed several important milestones. Formerly Leonidas Films, the company has changed its name to Consolidated Pictures Group, Inc. The new stock symbol is CPGU.

The Board of Directors, with the written consent of more than 50% of the shareholders, authorized a 1 for 25 reverse split. One share of CPGU was issued in exchange for twenty-five shares of Leonidas Films, Inc. (LFMI) as of the effective date of the reverse stock split on June 9, 2009, leaving a total of 3,297,673 common shares issued and outstanding. By instituting these changes, the company has positioned itself to obtain expansion capital, acquire more film titles, and seek independent motion picture distribution opportunities.

For more information go to Consolidated Pictures Group, Inc.'s website that can be viewed at www.cpg.us.com.

Note: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward looking, such as statement relating to plans for future expansion and other business development activities, as well as other capital spending, financing sources and the effects of regulation (including gaming and tax regulation) and competition. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the company. These risks and uncertainties include, but are not limited to, those relating to development and construction activities, dependence on existing management, leverage and debt service (including sensitivity to fluctuations in the interest rates), and domestic or global economic conditions.

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