SOURCE: Entertainment Capital Corporation

May 23, 2006 09:45 ET

Entertainment Capital Corporation Announces Acquisition of Worldwide Distribution Rights to Internationally Acclaimed "Valley of the Wolves: Iraq"

LOS ANGELES, CA -- (MARKET WIRE) -- May 23, 2006 -- Entertainment Capital Corporation (ECC), whose focus is to invest in companies engaged in various aspects of the entertainment industry, today announced that FilmMates Entertainment, Inc., a Los Angeles-based film acquisition, finance, production and distribution company, has acquired the worldwide distribution rights to the highly popular and controversial film "Valley of the Wolves: Iraq," a film by Turkish filmmaker Serdar Akar. The film is slated for domestic U.S. theatrical release in summer 2006.

Beginning with the July 4, 2003 "Hood Event," a true occurrence that brought national disgrace to a unit of Turkish soldiers, "Valley of the Wolves: Iraq" stars Billy Zane ("Titanic") as Sam William Marshall, a profiteering CIA officer stationed in northern Iraq, who pursues his own personal agenda amidst the American invasion of the country. Joined by the sinister "Doctor" (Gary Busey), a surgeon secretly involved in the black market trade of human organs, Marshall's actions prompt a desperate plea to ex-Turkish intelligence agent Polat Alemdar, (Necati Sasmaz), to both avenge the honor of the Turks and free innocent Iraqi civilians from Marshall's tyrannical grip.

FilmMates Entertainment has acquired the rights to both the theatrical and home video distribution of "Valley of the Wolves: Iraq."

"We are pleased to be working with an exciting new filmmaker and to bring his vision and storytelling to U.S. audiences through the distribution of 'Valley of the Wolves: Iraq,'" commented Jay Malla Maldonado, senior vice president of development for FilmMates Entertainment. "This film has been a resounding international success, and we expect considerable additional attention with its U.S. release."

The film will be represented by Yarek Danielak of Arsenal Pictures International, which will handle international distribution in conjunction with FilmMates. Arsenal Pictures International, based in Santa Monica, California, focuses on the international and domestic distribution of high quality films and TV programming.

"Given the attention that this film has already received internationally, the addition of 'Valley of the Wolves: Iraq' to FilmMates Entertainment distribution channels is an important milestone in the company's development. By acquiring theatrical and home video distribution of this film, FilmMates Entertainment has raised its profile in the movie industry as well as increasing its long-term revenue potential and value for ECC shareholders," stated John Bailey, chief executive officer for Entertainment Capital Corporation.

About FilmMates Entertainment, Inc.

FilmMates Entertainment, Inc., which recently entered into a multi-year home video distribution agreement with Vivendi Visual Entertainment (VVE), a division of Universal Music & Video Distribution, is a global motion picture financing, production and distribution company that acquires content for theatrical, television, home entertainment and portable digital markets. Founded in November 2001 as a fund acquiring films from promising, young directors, FilmMates Entertainment currently has a film library of over 40 theatrical and direct-to-DVD releases. For more information, visit www.filmmates.net.

About Entertainment Capital Corporation

Entertainment Capital Corporation, a business development company pursuant to the Investment Company Act of 1940, was formed to build a portfolio of investments in the entertainment industry, including companies engaged in movies, music, home video, television and related projects. In addition to portfolio company FilmMates Entertainment, Inc., Entertainment Capital Corporation has acquired a 100% interest in Roma Music Publishing, a privately held Nevada corporation, which is comprised of two divisions, a music publishing arm that owns and administrates copyrights to music for film properties and a record label that produces and distributes soundtracks and new recording artists.

Contact Information

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    Gemini Financial Communications for Entertainment Capital Corporation
    A. Beyer
    951-587-8072
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