SOURCE: Peace Arch Entertainment Group Inc.

March 19, 2008 16:10 ET

Peace Arch Entertainment Provides Update on Release of Financial Results for First Quarter November 30, 2007

TORONTO--(Marketwire - March 19, 2008) - Peace Arch Entertainment Group Inc. (AMEX: PAE) (TSX: PAE) today provided this status update pursuant to the alternative information guidelines of the Ontario Securities Commission ("OSC"). These guidelines require the Company to provide bi-weekly updates on its affairs until such time as the Company is current with its filing obligations under Canadian securities laws.

On Monday the Company filed its annual financial statements for the year ended August 31, 2007, but it remains in default of the requirement to file its interim financial statements for the first quarter ended November 30, 2007. The Company expects to file its first quarter statements by the end of March.

After discussions with Peace Arch representatives, the OSC agreed that the current Management Cease Trade Order issued on December 24, 2007 will remain in place to allow Peace Arch additional time to complete its first quarter statements provided that Peace Arch continues to comply with the alternative information guidelines of the OSC. Peace Arch intends to continue to comply with the alternative information guidelines of the OSC until such time as it becomes current with its filing obligations.

The Company confirms once again that other than the release of its first quarter interim financial statements there is no material information concerning the affairs of the Company that has not been generally disclosed as of the date of this announcement.

About Peace Arch Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 1,000 classic and contemporary titles. For additional information, please visit www.peacearch.com. For more investor-oriented information about Peace Arch Entertainment, visit http://www.trilogy-capital.com/tcp/peace-arch/. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/peace-arch/quote.html. To view an Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/peace-arch/factsheet.html. To read a transcript of a recent Peace Arch investor conference call or listen to an archived recording, please visit http://www.trilogy-capital.com/tcp/peace-arch/conference.html.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contacts:

    Roy Bodner
    Senior Vice President
    Marketing and Communications
    Peace Arch Entertainment
    (310) 776-7208
    Email Contact: Email Contact

    Or

    Financial Communications
    Trilogy Capital Partners
    Ryon Harms
    (800) 592-6067
    Email Contact: Email Contact