SOURCE: Seven Arts Pictures plc

November 12, 2008 19:50 ET

Seven Arts Pictures plc Announces Preliminary Results for the 15 Months Ended 30 June 2008

HOLLYWOOD, CA--(Marketwire - November 12, 2008) - Seven Arts Pictures plc (Seven Arts) (OTCBB: SAPXF) announces its preliminary results for the 15 months ended 30 June 2008.

FINANCIAL HIGHLIGHTS

--  Revenue up 51% to $17,748,394 (£8,874,197); (2007: $11,758,578
    (£5,879,289))
--  Profit After Tax increased by 107% to $4,013,560 (£2,006,780); (2007:
    $1,934,260 (£967,130))
--  Basic EPS up 19% to 17.02 cents (8.51 pence); (2007: 14.36 cents (7.18
    pence))
--  Repayment of approximately $8,000,000 (£4,000,000) of film finance
    
    

OPERATIONAL HIGHLIGHTS

--  4 films delivered during the reporting period up 50% on the year ended
    31 March 2007
--  OTC Bulletin Board listing
    
    

Peter Hoffman, Chief Executive, commented: "We are delighted with our achievements to date. The growth and traction we have attained are a key and an exciting step in achieving growth. We look forward to the future with confidence."

A FULL VERSION OF BOTH THE CHIEF EXECUTIVE OFFICER'S STATEMENT AND THE CONSOLIDATED PROFIT AND LOSS ACCOUNTS ARE AVAILABLE ON THE SEVEN ARTS WEBSITE (www.7artspictures.com).

About Seven Arts

Seven Arts Pictures plc ("SAP," "7 Arts" or the "Company") 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:

Included in this news release and other information that we make publicly available from time to time are forward-looking management comments and other statements that reflect management's current outlook for future periods. These statements include, among others, statements regarding the anticipated benefits from the development, production, or acquisition of new film projects as well as anticipated revenue from other sources and which may be critical to the overall revenue and profits of the Company.

These statements and expectations are based on currently available competitive, financial and economic data along with our operating plans, and are subject to future events and uncertainties that could cause anticipated events not to occur or actual results to differ materially from historical or anticipated results. Among the events or uncertainties which could adversely affect future periods are: changes in legal contingencies; issues surrounding labor disputes with unions such as the Screen Actors Guild, the Director's Guild, and the Writer's Guild; our use of estimates and assumptions; and the concentration of our capital stock ownership. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the risk factors located in our Registration Statement filed with the United States Securities and Exchange Commission as amended on page 11 of Form 20-FR12G/A Amendment 11 (annual report pursuant to Section 13 or 15(d) of the Exchange Act) for the year ended March 31, 2007 and as updated to March 31st, 2008 under Part 1 Item 3 Section 3.D entitled "Risk Factors". The Company undertakes no obligation to update or revise any forward-looking statements contained in this release as a result of new information or future events or developments.