Entertainment One Ltd.-UPDATE to First Day of Trading on AIM

GRAND CAYMEN, CAYMEN ISLANDS--(CCNMatthews - March 29, 2007) - Entertainment One Ltd. (the "Company") (formerly Earl Street Capital Ltd.), a major distributor and producer of home entertainment products in North America, today announces the first day of trading of its Ordinary Shares on the AIM Market of the London Stock Exchange ("AIM") under the ticker code "ETO." Admission to trading on AIM occurs upon the completion of the acquisition agreed to on 14 February 2007 by the Company and coordinated by Marwyn Investment Management LLP, of the entire operating business of Entertainment One Income Fund for a total consideration of CAD194 million (£85.5 million), including estimated net debt of CAD68 million (£30 million). Entertainment One Income Fund was previously listed on the Toronto Stock Exchange. Highlights /T/ -- Placing of the Company's Ordinary Shares successfully completed, raising approximately £80 million at £1 per share. The Company will have a market capitalisation of approximately £85m and 84.4m shares in issue when trading commences this morning. -- Placing proceeds to be used to fund the cash consideration for the acquisition (including the costs), to provide additional working capital to the business and to provide the business with initial funds with which to pursue its acquisition strategy. -- Entertainment One is the number one wholesale distributor of DVDs, CDs and video games in Canada as well as a leading independent wholesale distributor in the US. -- Entertainment One distributes across the entertainment value chain including distribution to conventional retailers and online retailers as well as digital distribution of recorded music through download services such as iTunes. -- Entertainment One owns an established content and rights business incorporating exclusive licensing of third party filmed entertainment content in the US and Canada and in Koch Records the largest independent record label in the US. -- Further complementary acquisition opportunities have been identified in North America and Europe. /T/ James Corsellis, Managing Partner of Marwyn Investment Management LLP, said: "Following the agreement in February to acquire Entertainment One, we are delighted that the acquisition has completed today. As well as paying for the acquisition, the funds raised will enable management to execute complementary acquisitions and pursue their strategy of building a leading global entertainment content owner and distributor by increasing content ownership, expanding into new markets and exploiting the growing demand for digital distribution." Darren Throop, Chief Executive Officer of Entertainment One, said: "I am extremely excited to lead Entertainment One onto AIM. The positioning of the Company on AIM will give us added capability to enhance and expand the business and to pursue our strategy to develop the group into a leading international entertainment content ownership and distribution company." The Company was advised by TD Securities Inc. and Collins Stewart Europe Limited Advisers also included Osler, Hoskin & Harcourt LLP, Mayer Brown Rowe & Maw LLP, Deloitte & Touche LLP and The Salter Group. About Marwyn Investment Management LLP Marwyn Investment Management LLP ("Marwyn") is a London-based hedge fund investor specialising in sourcing and investing alongside experienced management teams with buyout and consolidation strategies. Marwyn makes its investments through both public and private special purpose acquisition vehicles and is backed by some of the world's leading investment institutions. The Marwyn team has carried out acquisitions valued at more than £800 million since September 2004 in sectors including environmental services, insurance, leisure, gaming and food. /T/ This information is provided by RNS The company news service from the London Stock Exchange /T/

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