SOURCE: Entertainment Capital Corporation

June 13, 2006 09:15 ET

Entertainment Capital Corporation Announces Return of FilmMates Entertainment Management From Cannes International Film Festival

LOS ANGELES, CA -- (MARKET WIRE) -- June 13, 2006 -- Entertainment Capital Corporation (ECC), whose focus is to invest in companies engaged in various aspects of the entertainment industry, today announced that representatives of portfolio investment FilmMates Entertainment, Inc., a Los Angeles-based film acquisition, finance, production and distribution company, have returned from the 47th annual Marché du Film, which took place from May 17-27 at the Cannes Film Festival (Festival International du Film de Cannes) in Cannes, France.

Since its inception, the Marché du Film (The Film Market) has become the largest film market in the world. In 2005, more than 9,000 participants from 83 countries gathered to attend screenings of nearly 900 films, half of which were world premieres. This year's event hosted 10,061 registered film industry professionals from 91 countries. The Marché du Film is considered the pre-eminent event where films are bought and sold and foreign rights are traded. It offers a wide range of services and information tools to encourage exchanges and enable participants to develop their activities year round.

Prominent in FilmMates presence at the Marché du Film were four screenings of the highly popular and controversial "Valley of the Wolves: Iraq," for which FilmMates recently acquired U.S. and various other distribution rights. FilmMates Entertainment has acquired the rights to both the theatrical and home video distribution of "Valley of the Wolves: Iraq," which is slated for domestic U.S. theatrical release and home video/DVD release later this year.

FilmMates Entertainment not only successfully secured distribution rights for "Valley of the Wolves: Iraq" in territories around the world, the company has also acquired worldwide distribution rights to another film property, which it expects to announce shortly.

"There was considerable international interest in 'Valley of the Wolves: Iraq,' and our screenings were very well attended by potential buyers from foreign distributors in virtually every territory in the world," stated John Bailey, chief executive officer for Entertainment Capital Corporation, who attended the Festival. "We were able make significant progress in solidifying foreign distribution contracts for 'Valley of the Wolves: Iraq' and are preparing to deliver the film for both theatrical and home video markets. The fact that we were also able to acquire rights to another new film property further demonstrates the value of FilmMates Entertainment's attendance at Cannes."

Also in attendance at Cannes were Jay Malla Maldonado, senior vice president of development for FilmMates Entertainment and Yarek Danielak of Arsenal Pictures International, which, in conjunction with FilmMates, will handle international distribution of "Valley of the Wolves: Iraq."

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About FilmMates Entertainment, Inc.

FilmMates Entertainment, Inc., which recently entered into a multi-year home video distribution agreement with Vivendi Visual Entertainment (VVE), 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 41 theatrical and direct-to-DVD releases. For more information, please visit www.filmmates.net. Entertainment Capital Corporation owns a controlling interest in FilmMates Entertainment, Inc.

About Entertainment Capital Corporation

Entertainment Capital Corporation (www.entertainmentcapitalcorp.net), 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 Group, Inc., 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.

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    Gemini Financial Communications for Entertainment Capital Corporation
    A. Beyer
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