John Ptak is leaving CAA after 15 years and teaming up with film industry executive Philip Elway to form the strategic consultancyArsenal.
Arsenal will adviseproducers, equity funds and distributors on business growth and financing and distribution arrangements onprojects.
The initial client rosterincludes Exception-Wild Bunch, Endgame Entertainment, Spitfire Pictures,Kadokawa Pictures USA, and Davis Films. Arsenal will commence full operations in Juneafter Cannes.
At CAA Ptak expandedthe role of agent by representing the financing and distribution on more than 1OO independent features,including films by Woody Allen, DavidLynch, Wolfgang Petersen, and Peter Weir.
His corporate clientsincluded Intermedia, Davis Films,Kadokawa Pictures USA, Mirage, CIBY2OOO and The Yari Film Group.
Elway served as executive vice president of Douglas-Reuther Productions, chief operating officer ofBel Air Entertainment, and most recently as president of VIPMedia USA.
He has been involved withthe production of morethan 60 films and at VIP he was associated within the placement ofapproximately $800m ofequity into feature productions.
In a statement CAA's Richard Lovett said: 'We wish John the best of luck in this new venture. We will continue to accesshis expertise andrelationships, and look forward to sharing clients with Arsenal.'
'CAA has been my home for many years,' Ptak said. 'The agency thoroughly encouraged the growth of this new,independent business from the beginning - Philip and I look forward to working closely with CAA onshared client companies and films.'
'John is probably the mosttravelled and respected agent in theinternational film community,'Elway said. 'Aswell as representing numerous clients, he has been responsible for completingthe financial and/orcreative packaging of a long list of exceptional films and I'm very excited tobe entering this partnership with him.'

For Immediate Release

contactContact: Jim Walker

818-788-4050 ext.315

DR A F T 3.1 - JS - 042506 V.1

YorkEntertainment To Open $50 Million Production Slate

ToOutside Investors

Sherman Oaks, CA - May 1Apr. '',2006 - York Entertainment todayannounced that, for the first time in its 175-year history, the cCompanywill begin accepting up to $50 million in external financingoutside investors for anexpandedtheir current slate of forthcoming feature film productions, including 'BigBad Boogeyman' and '10,001 Scarecrows'.A total of . The York 2006 - 2007 slate contains 30 Action, Family, Horror, Western & Martial-Arts titles --, b allbudgeted at between $250,000and $5 million each --, will be available at andis available to investors ina$250,000investment unitsminimumper investor.

After financing and producing 30 movies herself, and financing another 18, York founderPresident and CEO Tanya York has perfected the 'better,faster, cheaper' business modelfor profitable film production, with guaranteeddistribution.. 'I've been approached with manyoutside investment offersin the past, but until now I'veturned them all down,'stated Ms. York'We have a terrific slate of amazing films underdevelopment thatdeserve to be made now, while the market is right, so I'm thrilled to allowoutside investors the opportunity to participate' exclaimed Ms. York. .'But demandfor our high-concept, low-cost filmshas grown tosuch a level thatbringing on outside investorswill enable usto expand our already ambitious production scheduleas needed'.

'We'vedeliberately structured the investment to enable investors to fund a singlelow-budget straight-to-video film for just $250,000, as well as to allow filmfunds to finance amulti-million dollar diversified slate of low and mid-budget films in variousgenres- all produced with the same proven York Entertainment model.'

Accordingly, the Company has appointed John Shaw todirector of investor relations where he'lluse his 15 years experience as an investor relations professional to manage increased levels of production activity and outside investment interests. During his career, Mr. Shawhehas served as an InvestorRelations officer and consultant for numerous public companies and venture capital firms.

consulted to numerous public and private companieson IR and venture capital, and has previously served asan IR officer for public companies and venture capital firms.

Commenting on York's decision to accept third-party film funding and hisnew role, Mr. Shaw said, 'Based purely on investment merit and economics, theYork model for film production and distribution offers the most favorable risk- reward ratio I've seen in the entertainment industry to date,. I believethis to be a unique and compelling investment opportunity and look forward toworking with interested film investors.'

About York Entertainment

Initially established in1990, the York Entertainment video label was acquired by Loose Cannon Films in 2004. A Los Angeles-basedDVD distributor, Loose Cannon acquires and distributes feature films for thedomestic home entertainment marketplace. With 30-50 new films each year being released, Loose Cannon's diverselibrary of Urban, Horror, Action, and Comedytitles numbers in the hundreds, and contains to expand.

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