SOURCE: Global Universal Film Group

July 06, 2007 10:30 ET

Global Universal Film Group Secures $100,000,000 in Private Equity Deal

LitFunding Subsidiary Signs Zack Ward and Sean Patrick Flanery to Direct/Star in Two Features

HOLLYWOOD, CA--(Marketwire - July 6, 2007) - LitFunding Corp. (OTCBB: LFDG) announced today that its subsidiary, Global Universal Film Group, has penned a $100,000,000 private equity deal to produce a slate of eight films. Global has signed actors Zack Ward ("Transformers," "The Christmas Story") and Sean Patrick Flanery ("Boondock Saints," "Powder") to direct and star in two of the feature vehicles.

Ward, whose TV credits include "Deadwood," "Titus," "NCIS," "Lost" and "Crossing Jordan," among others, will direct and star in his original screenplay, "Frontman." The film will be shot entirely in Louisiana under a special credits program negotiated by Global.

Global will likewise produce Flanery's original screenplay, "Sunshine Superman." Flanery's TV appearances include multiple episodes in "Stephen King's Dead Zone," "CSI," and "Young Indiana Jones Chronicles."

Pursuant to signing its hundred-million-dollar private equity funding deal in late June, Global also secured an agreement with James Paul and Cory Hudson, who will be assist Global in producing the slate of films. Paul and Hudson recently completed the film, "Through Your Eyes," which features Michael Madsen ("Sin City") David Carradine ("Kill Bill") and Chase Masterson ("Star Trek") along with renowned author, actress and celebrity attorney, Vicki Roberts, who also served as Executive Producer.

Global Universal Film Group principals include: President/CEO, Jackelyn Giroux; Chairman/CFO, Gary Rasmussen; Head of Development, writer/director Peter Liapis, and Heads of Production, Cory Hudson and James Paul.

This press release does not constitute an offer of any securities for sale. Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995, or by the Securities and Exchange Commission in its rules, regulations and releases. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks include the ability of LitFunding's subsidiary, Global Universal Film Group, to reach definitive agreements with respect to and close the transactions discussed in this release as well as activities, events or developments that the company expects, believes or anticipates will or may occur in the future. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual result or developments may differ materially from those set forth in the forward-looking statements. In addition, other risks are detailed in the company's periodic reports. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

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