A new intermediary companycalled Peloton Pictures is planning to launch in Brussels in as little as sixweeks time to take advantage of the new Belgian tax shelter.

Led by Mulholland Picturesproducer Ate de Jong (The Discovery Of Heaven), Peloton Pictures will bean intermediary between 'one or two well-known Belgian banks' and mainlyBelgian, British and Dutch producers.

In its first year, Pelotonplans to generate Euros 15m in investment capital, increasing to Euros 40m -50m in its second year.

The money will be spent on anumber of "duo-slates" of feature films, each consisting of a small BelgianEuros 1.5m - 2m film and a big international Euros 8m - 15m co-production.

An average of three to fourof such slate-combinations, accounting for six to eight films, is to beproduced each year.

If all goes well, De Jongexpects the first film to be financed by the end of this year.

With the Dutch CV-rulingending and the Belgium tax shelter about to be launched, De Jong expects "anenormous intercity train to depart from Holland to Belgium."

He claims to "have beencalled by" all major Dutch and Belgian producers over the past few weeks, aswell as key UK players such as David Parfitt (Shakespeare In Love),Steve Woolley (Interview With A Vampire), the BBC's Jane Wright, the UKFilm Council's Paul Trijbits "and a slew of others".