Message-ID: <30721628.1075857110272.JavaMail.evans@thyme> Date: Wed, 13 Dec 2000 00:07:00 -0800 (PST) From: jesse.menzies@pacificcmi.com To: alewis@enron.com Subject: InternetStudios Entertainment Finance Closes Film Financings Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Jesse Menzies X-To: "'alewis@enron.com'" X-cc: X-bcc: X-Folder: \Andrew_Lewis_Dec2000\Notes Folders\Notes inbox X-Origin: Lewis-A X-FileName: alewis.nsf InternetStudios Entertainment Finance Closes Film Financings LOS ANGELES, Dec 13, 2000 -- InternetStudios.com, Inc. (OTCBB:ISTS), the global filmed entertainment company that operates online, via its two main sites OnlineFilmandTVSales.com and reportertv.com, is delighted to announce that its newly created InternetStudios Entertainment Finance ("IEF") subsidiary, headed up by film financing specialist, Robert Beattie, has already completed its first two transactions. InternetStudios launched IEF in September to provide interim financing for the production of films. IEF has already expanded by completing two deals to finance and produce a series of motion pictures through the official Czech-Canada production treaty. The pictures will be shot in Prague. The inaugural film, Ariana's Quest, from North American Pictures and Forgotten Kingdom Productions, stars female WWF Champion Rena Mero, (formerly known as "Sable"), and has recently gone into postproduction. As part of the arrangements between IEF and the producers, this film will be promoted and sold exclusively over the internet via OnlineFilmandTVSales.com. The InternetStudios group of companies has also retained the Internet rights to the picture for possible webcasts in the future. IEF has also signed a further agreement with North American Pictures and North American Releasing to produce and finance several further independent pictures, beginning with the action, adventure picture Omega Force, which commences shooting in Prague during January 2001. Rob Maclean, Chairman, InternetStudios comments: "These transactions represent the beginning of the tremendous opportunities that we have identified for IEF. We will continue to build our company based on our focus of working with our clients to take advantage of a variety of funding sources, including international tax motivated sources, foreign subsidies and co-production treaties to ensure we fully maximize the available financing for the producer and launch these productions in the most financially efficient manner. "Not only does IEF represent a further source of revenue to our company, it also provides our clients with another source of product unique to InternetStudios. These deals and the partnerships that Robert Beattie is creating for this company through his vast banking experience and international focus will contribute to the growth of InternetStudios and benefit the international independent film industry." IEF works with producers and sales agents and makes available both conventional and gap financing. The Company has relationships with a number of private funding sources and significant institutional investors who provide the necessary capital. About InternetStudios InternetStudios.com is positioned as the premier full-service website for licensing film and television distribution rights and tracking and distribution of entertainment industry data via the Internet. The company operates three subsidiaries: OnlineFilmandTVSales.com, the digital marketplace for sales of film and television rights; reporterTV, which delivers daily online entertainment industry newscasts; and InternetStudios Entertainment Finance. Together these leading-edge web offerings provide a comprehensive solution for entertainment industry professionals. For more information contact InternetStudios.com, Inc. at 310-394-4025. Investors call toll free 888-784-6166 or email ir@internetstudios.com Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. For Further Information Jesse Menzies Investor Relations (888) 784-6166 mailto:Jesse.Menzies@pacificcmi.com Stock Symbol (OTC BB: ISTS) If you would like to be removed from this email list please send a reply with "Remove" in the subject box and we will be happy to remove your contact details from our mailing list.