SOURCE: Family Entertainment Corporation

September 09, 2008 13:43 ET

Family Entertainment Corporation Announces the Spin-Off of Prestige Cars International, Ft. Lauderdale, Florida and "Shareholders of Record" Date for Stock Dividend

BOCA RATON, FL--(Marketwire - September 9, 2008) - Family Entertainment Corporation (PINKSHEETS: FMLE) (the "Corporation") announced that its Board of Directors has approved a plan to spin-off its subsidiary, Prestige Cars International, Inc. ("PCI"), Ft. Lauderdale, Florida, by September 30, 2008. FMLE shareholders of record as of September 30, 2008 will receive shares of common stock in PCI as a common stock dividend upon completion of its spin-off from the Corporation. The formula for the number of shares to be issued under the dividend is one (1) for ten (10), with no shareholder receiving less than one thousand (1000) shares of ASAP, and fractional shares rounded up to the next highest share.

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