SOURCE: Family Entertainment Corporation

May 05, 2008 08:30 ET

Family Entertainment Corporation Announces Subsidiary, Prestige Cars International, Inc., Has Agreed to Acquire eBay Sales by Prestigious, Inc.

BOCA RATON, FL--(Marketwire - May 5, 2008) - Family Entertainment Corporation (PINKSHEETS: FMLE) (the "Corporation"), www.familyentertainmentcorp.com, announced today that its subsidiary, Prestige Cars International, Inc., ("PCI"), www.prestigecarsintl.com, has entered into an agreement to acquire "eBay Sales by Prestigious, Inc.," doing business as "Prestigious Eurocars," www.prestijiouseurocars.com, an online retailer of classic and collectible Rolls Royce, Bentley, Jaguar and other motorcars sold worldwide. eBay Sales by Prestigious, Inc. was originally founded by Robert Atanasov, President of PCI, as an online marketer of classic and collectible cars worldwide.

About Family Entertainment Corporation

Family Entertainment Corporation is a diversified holding company with a business plan of owning and operating entertainment and consumer marketing and distribution companies in the U.S. In early 2007, it acquired its subsidiary, Prestige Cars International, Inc., a restorer and dealer of pre-owned Rolls Royce, Bentley and other high-end motor cars, including many collector's editions shipped worldwide. In late 2007, it acquired AK Entertainment and Marketing, Inc., Miami, Florida, a national distributor of the Boogie Bodies entertainment system (www.boogie-bodies.com). AK Entertainment and Marketing, Inc. has exclusive U.S. distribution rights for the Boogie Bodies' entertainment system for select vertical markets in the family entertainment industry. In May 2008, PCI also entered into an agreement to acquire Trimcar, Inc. (www.trimcar.com), Ft. Lauderdale, Florida, a worldwide distributor and installer of high end custom leather seat covers.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact Information

  • Contact:
    Family Entertainment Corporation
    561-962-4197