Fredericks Entertainment Provides Update on Previously Announced Stock Dividend

MIAMI--(Business Wire)--
Fredericks Entertainment (Pink Sheets: FDKE) announced that its
Board of Directors has authorized the issuance of a stock dividend of
one share of its new Series B convertible preferred stock for every
ten shares of FDKE common stock to shareholders of record on January
25, 2008. Each share of Series B preferred stock shall be convertible
into one-half share of common stock. Stock certificates should be
mailed to shareholders by the end of March. Alex Aksert, CEO of
Fredericks Entertainment commented, "We apologize for the delay in
issuing this dividend. The Company has been focused on the recently
announced launch of its new web-based division to showcase material
from promising, unsigned artists, in association with Ira Wolf, a
24-year radio veteran and former Program Director for one of the
nation's top-ranked radio stations."

About Fredericks Entertainment

Fredericks Entertainment Inc. is a Miami-based company involved
primarily in independent record, film, production and management. More
info can be found at the company's web site
www.fredericksentertainment.com.

Certain statements in this release and other written or oral
statements made by or on behalf of the Company are "forward-looking
statements" within the meaning of the federal securities laws.
Statements regarding future events and developments and our future
performance, as well as management's expectations, beliefs, plans,
estimates or projections relating to the future are forward-looking
statements within the meaning of these laws. The forward-looking
statements are subject to a number of risks and uncertainties
including market acceptance of the Company's services and projects and
the Company's continued access to capital and other risks and
uncertainties outlined in its filings with the Securities and Exchange
Commission, which are incorporated herein by reference. The actual
results the Company achieves may differ materially from any
forward-looking statements due to such risks and uncertainties. These
statements are based on our current expectations and speak only as of
the date of such statements. The Company undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a
result of future events, new information or otherwise.

Fredericks Entertainment
Alex Aksert, C.E.O., 305-932-3440

Copyright Business Wire 2008