SOURCE: Film and Music Entertainment, Inc.

March 15, 2007 08:00 ET

Film and Music Entertainment Sees Blue Ray as the Way!

LOS ANGELES, CA -- (MARKET WIRE) -- March 15, 2007 -- Film and Music Entertainment, Inc. (PINKSHEETS: FLME) and Blue Ray Technologies, Inc. have entered into a co-venture to create the world's first independent Blu-ray Disc Manufacturing and Distribution company called Edge of Light Media (EOL).

Edge of Light Media will be jointly owned with sales & authoring done at Film and Music's new offices at 5900 Wilshire, while manufacturing and fulfillment will be handled at Blue Ray's new plant which is currently under construction in Spokane, Washington.

EOL Media is truly the first and only Independent authoring/manufacturing/distribution company of its kind. With the heated competition between HD & Blu-ray technologies, Erick Hansen quickly noted the stronger marketing of Blu-ray over HD. Together with Mr. Daly they chose this format to create a new business for independent films.

"Indies have concerns they will lose control or flexibility over their largest revenue source, video in whatever form the public wants, as America marches to 70 million HD TV homes by 2010, " Hansen said, quoting figures from Nielsen. He added, "Blu-ray has an undeniable edge over the competing HD-DVD format due to increased capacity, more studio support, and more than one million Blu-ray players already in US homes."

Film and Music Entertainment, Inc. is an independent entertainment production and distribution company, which annually produces theatrical feature films for worldwide distribution.

Blue Ray Technologies, Inc. is the first U.S. owned and operated manufacturer of Blu-ray discs and is committed to bringing bleeding edge distribution media to the independent filmmaker.

Statements included within this press release that are not historical in nature constitute forward-looking statements for the purpose of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Investors are cautioned that this press release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate," "believe," "estimate," "expect," and similar expressions as they relate to the Company or its management are intended to identify such forward-looking statements. There can be no assurance that the Company will be able to market, sell or deliver successfully its services inside or outside the United States, given risk factors including but not limited to unexpected changes in regulatory requirements, export restrictions, tariffs and other trade barriers, longer payment cycles, and fluctuations in currency exchange rates, any of which could adversely affect the Company's operations. There can be no assurance that one or more of these factors will not have a material adverse affect on the Company's current or future operations and consequently, on the Company's business, results of operations, and financial condition.

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