Seven Arts Pictures plc

September 10, 2008 04:53 ET

Further Repayment of Debt



                         Seven Arts Pictures Completes 4 Motion Picture Financing Debt Repayments
                               equal to $978,000-Repayments now total over $9,167,000

Seven  Arts  Pictures plc (Seven Arts) (PLUS:SAPP) (OTCBB:SAPXF) announced 4 additional  debt  repayments
totaling  $978,000. The Company repaid four lenders, 120dB Finance, Parallel Media, Blue  Rider  Finance,
Apollo  Media GmbH & Co. Filmproduktion K.G. and Billy Bart, a total of $978,000. Since June  30th  Seven
Arts  has  announced the repayment of a total of $9,167,000 of debt with cash generated by the  financing
and  distribution  of films. No additional debt was incurred to complete any of the  repayments  and  the
total shares issued and outstanding remains unchanged.

Peter  Hoffman,  CEO of Seven Arts, commented, "We are very pleased to see our balance sheet  improve  by
over  $9,000,000 last year. Our cash flow was excellent and Seven Arts is positioned very  well  for  the
Fiscal Year 2009 which started July 1st 2008."

About Seven Arts
Seven  Arts Pictures plc ("SAP," "7 Arts" or the "Company") was founded in 2002 as an independent  motion
picture  production  and  distribution  company  engaged  in  the  development,  acquisition,  financing,
production,  and  licensing of theatrical motion pictures for exhibition in domestic  (i.e.,  the  United
States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of
media, including home video and pay and free television.

Cautionary Information Regarding Forward-Looking Statements:
Included in this news release and other information that we make publicly available from time to time are
forward-looking  management comments and other statements that reflect management's current  outlook  for
future  periods.  These statements include, among others, statements regarding the  anticipated  benefits
from the development, production, or acquisition of new film projects as well as anticipated revenue from
other sources and which may be critical to the overall revenue and profits of the Company

These  statements and expectations are based on currently available competitive, financial  and  economic
data  along with our operating plans, and are subject to future events and uncertainties that could cause
anticipated  events  not to occur or actual results to differ materially from historical  or  anticipated
results.  Among the events or uncertainties which could adversely affect future periods are:  changes  in
legal  contingencies; issues surrounding labor disputes with unions such as the Screen Actors Guild,  the
Director's Guild, and the Writer's Guild; our use of estimates and assumptions; and the concentration  of
our  capital  stock  ownership. The forward-looking statements in this news release  should  be  read  in
conjunction with the more detailed descriptions of the risk factors located in our Registration Statement
filed  with the United States Securities and Exchange Commission as amended on page 11 of Form 20-FR12G/A
Amendment 11 (annual report pursuant to Section 13 or 15(d) of the Exchange Act) for the year ended March
31,  2007 and as updated to March 31st, 2008 under Part 1 Item 3 Section 3.D entitled "Risk Factors". The
Company  undertakes no obligation to update or revise any forward-looking statements  contained  in  this
release as a result of new information or future events or developments.

The Directors of the issuer accept responsibility for this announcement.

Seven Arts Pictures plc US contact:
Erik Smith, +1-323-692-5010


Seven Arts Pictures plc UK contact:
Elaine New, +44-207-355-2051

Contact Information

  • Seven Arts Pictures plc