SOURCE: Entertainment Capital Corporation

April 12, 2006 09:45 ET

Entertainment Capital Corporation Announces the Appointment of Music and Film Industry Veteran Richard Glasser to Oversee Strategic Music Initiatives for FilmMates Entertainment

LOS ANGELES, CA -- (MARKET WIRE) -- April 12, 2006 -- Entertainment Capital Corporation, whose focus is to invest in companies engaged in various aspects of the entertainment industry, today announced the appointment of Richard Glasser, music supervisor for Academy Award® Best Picture winner "Crash," to the Advisory Board of portfolio company, FilmMates Entertainment, Inc. Mr. Glasser will serve as music supervisor to films financed by FilmMates Entertainment, as well as administering the music rights for FilmMates Entertainment library of over 41 current film properties. As FilmMates expands its library of titles, Mr. Glasser will direct efforts to maximize the revenue potential of the music associated with the new acquisitions.

Mr. Glasser is a Motown recording artist who began writing music at age 14 and has enjoyed a highly successful career in the music and film industries. In addition to his work on the film "Crash," which also received an Academy Award® nomination for Best Original Song, Mr. Glasser has served as music supervisor for major motion pictures such as "Hostage" starring Bruce Willis and "Painted Veil" starring Ed Norton and Naomi Watts. His songs have been recorded by some of the music industry's top artists, such as Stevie Wonder, Vicki Carr, Anne Murray, and Vic Damone. Mr. Glasser's scores have been utilized by such notables as Burt Reynolds, Carol Burnett, Clint Eastwood, Diahann Carroll, Ed McMahon, Dick Clark, Debbie Reynolds, Doc Severinson, Joey Heatherton and many others.

"We are extremely pleased to have Richard Glasser as part of the FilmMates Advisory Board and to direct efforts to maximize the revenue potential of its music rights," stated John Bailey, chief executive officer of Entertainment Capital Corporation. "Given Mr. Glasser's high profile and successful history in both the music and film industries, we feel confident that FilmMates will draw-out the significant value of the music rights to its film properties and attract established entertainment industry talent. Additionally, Entertainment Capital Corporation will explore opportunities to establish synergistic portfolio investments in the music publishing and recording industries that we expect will further increase the revenue potential of the fund and return for the company's shareholders."

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. Its first portfolio investment, 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.

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    Gemini Financial Communications
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    A. Beyer
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