Seven Arts Pictures plc

December 17, 2008 06:50 ET

Posting of Circular / Notice of EGM

                                      SEVEN ARTS PICTURES PLC
                                  ("Seven Arts" or "the Company")
                                Posting of Circular / Notice of EGM
Further to the Company's announcement on 25 November 2008, the Company is pleased to confirm  that
a  circular  ("the  Circular")  has been sent to shareholders containing  a  notice  convening  an
extraordinary general meeting of shareholders for 31 December 2008.

As  set  out  in  the  Circular it is proposed to consolidate the ordinary share  capital  of  the
Company.  The  Company  has been advised that the Company's ordinary shares will  achieve  greater
coverage  from analysts and sales by institutional investors if the trading price of its  ordinary
shares is in excess of US$5 per share. The Board believe that a five for one consolidation of  the
ordinary  shares  will  achieve  such  a trading price, whereas  a  three  for  one  consolidation
originally  contemplated  by the Board might not have such effect. As a result  the  Board  hereby
withdraw  Resolution 7 contained within the AGM notice dispatched to shareholder on 25th  November

The  terms of the proposed consolidation are to issue one new Ordinary Share of 25p each for every
five  existing Ordinary Shares of 5p each held on the record date as at the close of  business  on
31st  December  2008  assuming the passing of the Resolution as set  out  in  the  Notice  of  the
Extraordinary General Meeting.  Fractional entitlements arising out of the consolidation by reason
of  there being less than five ordinary shares of 5p or a number not divisible by five held  by  a
shareholder shall be aggregated into Ordinary Shares of 25p and the consolidated shares so arising
shall be sold in the market and the net proceeds of sale held for the benefit of the Company.

Copies of these documents are available on the Company's website at

                                          ---- Ends ----

The Directors of the Issuer accept responsibility for this announcement.

For further information please contact:
Seven Arts Pictures plc US contact:
Peter Hoffman                                         Tel:  +1-323-692-5010

Seven Arts Pictures plc UK contact:
Elaine New, Finance Director                          Tel: +44 (0) 20 3006 8222

Corporate Adviser & Broker
Daniel Stewart & Co Plc
Stewart Dick                                          Tel: + 44 (0) 20 7776 6550

About Seven Arts:

Seven  Arts  Pictures  plc  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.

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