SOURCE: Family Entertainment Corporation

May 02, 2008 16:00 ET

Family Entertainment Corporation Announces That Subsidiary Prestige Cars International, Inc. Signs Letter of Intent to Acquire Trimcar, Inc., Ft. Lauderdale, Florida

BOCA RATON, FL--(Marketwire - May 2, 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 a Letter of Intent to acquire Trimcar, Inc., www.trimcar.com, a high-end provider of custom leather and other automotive seat cover lines distributed worldwide.

Robert Atanasov, President of Prestige Cars International, Inc., stated, "The timing of this acquisition is ideal given the growth in our car sales in Europe as a result of the exchange rate in favor of the Euro versus the U.S. dollar, making our cars more affordable in Europe. We can now jointly market internationally our cars and this high end custom seat cover line." He added further, "Following this acquisition, we will continue to pursue other opportunities in the international and domestic automotive market, so that we scale PCI rapidly."

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.

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Contact Information

  • Contact:
    Family Entertainment Corporation
    561-962-4197