SOURCE: Hollywood Studios International

February 27, 2007 19:35 ET

Hollywood Studios International Names Stephen L. Norris as Financial Consultant; Signs Engagement Letter With Norris' 76 & Madison

BEVERLY HILLS, CA -- (MARKET WIRE) -- February 27, 2007 -- Hollywood Studios International (PINKSHEETS: HYWS) CEO Steven Saxton announced today that the Company has engaged Stephen L. Norris as a financial consultant and has entered into an engagement agreement with Norris' 76 & Madison. The agreement calls for Norris to assist Hollywood Studios International with respect to the form, structure, and sources of up to $500 million of capitalization. The agreement also calls on Norris to assist in defining plans for structuring the participation of strategic partners in the development and expansion of Hollywood Studios International's global business.

"Mr. Norris has been a global leader for business between the Middle East and the U.S. It's an honor to welcome him to the Hollywood Studios International team," said Saxton at the announcement.

About Stephen L. Norris:

In 1987, Mr. Norris co-founded The Carlyle Group, a private equity and LBO firm in Washington, DC, where he served as a founder and Managing Director until 1995. During his tenure in the investment business, Mr. Norris has made, directed or participated in over 125 leveraged buyouts, venture capital and real estate (including office, multi-family, storage and warehousing) equity investments totaling more than $6.0 billion, and yielding an average annual internal rate of return (IRR) of over 38%. Mr. Norris structured and negotiated investments aggregating over $1.0 billion on behalf of a prominent Middle Eastern investor in Citicorp, Euro Disney, and the Four Seasons Hotel Company. These investments have returned well over $10 billion. Mr. Norris also served on the Board of Directors of major Carlyle Group investments.

Mr. Norris possesses substantial experience in providing strategic business advice to portfolio companies. During his career, Norris has structured, negotiated and closed transactions including growth capital opportunities, industry consolidation strategies and successful initial public offerings.

In 1990, Mr. Norris was appointed by former President George H.W. Bush and confirmed by the U.S. Senate as one of the five members of the $68 billion Federal Retirement Thrift Investment Board. During his tenure, Mr. Norris successfully advocated for the right of Federal employees to allocate a greater portion of their savings to public equities.

Prior to 1987 Mr. Norris served as Corporate Vice President of Marriott Corporation, where he was a strategist and advisor for the company's public and private financing and limited partnerships, as well as over $3.0 billion in mergers, acquisitions, and asset divestitures. He headed and had budget responsibility for the tax department.

Mr. Norris has served on the Board of Directors for numerous portfolio companies, including SynXis, MARC Global Holding Inc., Alloptic, GTX, Intellispace, Forum and Carey Pharmaceuticals Inc. Mr. Norris served as a law clerk on the U.S. Tax Court. Mr. Norris has BS, JD and LLM (tax) degrees magna cum laude, from the University of Alabama, New York University and Yale Law School.

About Hollywood Studios International

Hollywood Studios International (www.hsifilms.com), an entertainment holding company, exists to create award-winning entertainment which succeeds both artistically and commercially through the inherent synergies of combining elements of a traditional studio system with the structure of artist management. The Company has recently completed a financial audit and is filing the appropriate paperwork to begin trading in the U.S. (PINKSHEETS: HYWS). Current subsidiaries and divisions include Artist International Management, Doc Hollywood Kidz, Doc Hollywood Records, and Bop City Records. The Company is currently structuring the financing to complete the acquisition of a feature film production/international distribution company. Due to a non-disclosure agreement, the Company cannot publicly disclose any further information regarding this transaction.

Forward-Looking Statements:

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Hollywood Studios International believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objective and plans of the Company will be achieved.

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