SOURCE: Seven Arts Pictures plc

Seven Arts Pictures plc

March 31, 2011 13:25 ET

Seven Arts Announces New Distribution Venture With GFM Films LLP

HOLLYWOOD, CA--(Marketwire - March 31, 2011) - Seven Arts ("Seven Arts") (NASDAQ: SAPX) announced today that it has entered into an agreement with GFM Films LLP ("GFM") for the formation of a joint venture (the "Venture"). The Venture will seek to acquire, produce, license and distribute feature films. GFM was formed by Guy Collins, Michael Ryan and Fred Hedman, formerly key members of the management team at Handmade Films International. Both Seven Arts and GFM will contribute financially to the Venture which will provide Seven Arts with an experienced and dedicated distribution sales team, whilst providing savings to Seven Arts in its overhead and marketing costs. The Venture will formally launch at this year's Cannes Film Festival focusing its efforts on Seven Arts' upcoming titles including "The Winter Queen" to be directed by Fedor Bonderchuk and starring Milla Jovovich and "Neuromancer," the sci-fi epic based on the best selling novel by William Gibson which will be directed by Vincenzo Natali.

Guy Collins of GFM commented, "The three of us have been exploring opportunities in the independent movie business at all levels of production and distribution. Mike and I are already working on the forthcoming film and TV productions 'Time Bandits' and 'Long Good Friday' under a production agreement with Almorah Ltd, the new owners of HandMade Films. The opportunity to partner with Fred and enter into this JV with Peter and Kate is an exciting challenge with both completed and new films ready for us to start work on."

Peter Hoffman, CEO of Seven Arts, commented, "We are extremely excited about this strategic partnership with GFM. Guy, Michael and Fred have a long and well regarded reputation in the international sales community and we firmly believe that their talent and relationships will result in strong distribution for our films."

About GFM Films LLP:
GFM Films LLP was recently established by the three partners to produce, finance and market independent movies on a worldwide basis. Details of the company's business plans are being sent to all distribution, production, financing and creative contacts shortly.

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.

Cautionary Information Regarding Forward-Looking Statements:
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.

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