February 29, 2008 14:05 ET

Empire Film Group and IndustryWorks Join Forces for Financing, Production and Distribution of Suspense Thriller, "Shadow Vision"

LOS ANGELES, CA--(Marketwire - February 29, 2008) - Empire Film Group, Inc. (PINKSHEETS: EFGU) has entered into a co-production venture with Vancouver-based IndustryWorks for the financing, production and distribution of the supernatural suspense thriller, "Shadow Vision." The $2 million dollar production budget has been arranged through a combination of distribution presales, tax incentives, production services and credit, with Empire retaining the film's copyright and North American distribution and IndustryWorks handling international sales.

"Shadow Vision" is one of three theatrical productions financed by Empire Film Group in the past two months to utilize tax incentives, partnerships and presales as the primary sources of production capital. Empire plans to finance nearly $20 million worth of productions in 2008 through co-productions, tax incentives, presales and service deferrals designed to conserve capital while building a valuable library of quality films for the company.

"Utilizing these incentives and financing structures will enable Empire to quickly build a major asset base," said Dean Hamilton-Bornstein, CEO of Empire Film Group, Inc. "Unlike most of the other publicly traded companies involved in movie production, Empire actually will own these completed films as opposed to having a small fee or insignificant royalty. The wisdom of owning these movies will be proven over time as Empire builds up our already impressive film library."

"Shadow Vision" is a supernatural-themed thriller about a blind woman's ability to remotely sense crimes and intentions. Second unit sequences with lead actress Vivian Schilling have already been filmed, with principal photography slated to occur in May and June in New York City, Los Angeles and Fayetteville, Arkansas. IndustryWorks plans to premier a promo reel of scenes at the Cannes Film Festival in May, with completed screenings slated for the American Film Market in November.

Casting is underway, with an announcement of final cast expected in April. "Shadow Vision" was written by Eric Parkinson, who will also direct the film. Producers include Vivian Schilling, Fred Shefte and Dean Hamilton-Bornstein, with Andrew Parke as cinematographer and visual effects by Bruce Branit ("Sin City," "King Kong," "Ghost Rider").

About Empire Film Group, Inc.

Empire Film Group, Inc. ("EFG") is a new independent film finance, production, and distribution company, fully integrated into all entertainment media, including film production, distribution, DVDs and books. Empire works with several, prominent international distributors and controls the North American distribution of its properties internally, with direct relationships with key theatre circuits, DVD retailers, mass merchants and television broadcasters. Learn more about Empire Film Group by visiting www.empirefilmgroup.com