NeoClassics Films Lands "The Black Balloon"

VANCOUVER, BC and CULVER CITY, CA, Aug 05 (MARKET
WIRE) --
Canadian-based NEOCLASSICS FILMS LTD. ("NeoClassics") is pleased to
announce that it has just acquired from ICON ENTERTAINMENT GROUP North
American distribution rights (including Canada) in all media for
Australian coming-of-age comedy "THE BLACK BALLOON." It is a story about
fitting in, discovering love, and accepting your family for who they are
-- and in this case an autistic older brother who takes the family on an
emotional roller-coaster ride. "The Black Balloon," directed by talented
first time feature director Elissa Down and starring Rhys Wakefield, Luke
Ford, Gemma Ward and Toni Collette, was awarded The Crystal Bear for Best
Feature within the Generation 14 programme at the 58th Berlin
International Film Festival. "The Black Balloon" is produced by Tristram
Miall, producer and executive producer of the much-loved films, "Strictly
Ballroom" and "Looking for Alibrandi."

"THE BLACK BALLOON" was acquired in a mid six-figure deal and is slated as
NeoClassics' second U.S. theatrical release. It is scheduled to open in
key U.S. cities in October. Distribution newcomer NeoClassics licenses
independently-produced feature-length motion pictures for all media from
filmmakers around the world. Canadian-based with U.S. operations run from
the Culver City offices of its U.S. subsidiary, NeoClassics is initially
distributing directly to theaters in the U.S. with plans to add direct
theatrical distribution in Canada and the U.K. It sells all other rights
worldwide.

NeoClassics' first U.S. release, "Surviving Crooked Lake," is set for
theatrical release in September. The Slamdance Film Festival award winner
is a coming of age story about four 14 year-old girls who encounter death
and overcome extreme adversity on a summertime canoe trip to the north
woods, where everything that can go wrong does. Quickly becoming the
"go-to" guys for indie coming-of age product, NeoClassics is presently in
negotiation on some four additional theatrical titles for North American
release. NeoClassics is targeting an aggressive release schedule of a
dozen indie theatrical films for 2009.

NeoClassics is releasing its U.S. theatrical product through its
NeoClassics and Tigertail Flix labels. It is initially focusing on
platform releases in three to ten key urban markets, including New York,
Los Angeles and Chicago. The NeoClassics label is being branded as quality
independent fare typical of festival product, with a view toward building
a long-term following for its product. Product for Tigertail Flix includes
youth-oriented films, genre films such as horror and action, as well as a
wide array of diverse product for internet distribution and new media.

NeoClassics' management team is headed by Irwin Olian, CEO and Chairman, a
highly successful entrepreneur with a broad range of experience in
entertainment and finance, including positions as business affairs
executive with ICM and senior attorney with Warner Bros. in Burbank. He
has founded four successful public companies in a variety of industries
ranging from mining to biotechnology. Most recently, he helmed Pan African
Mining Corp., which was acquired this June in a $160 Million buyout by
Asia Thai Mining.

NeoClassics' seasoned team also includes Phil Breen, Exec. V.P. of
Business & Acquisitions, formerly Senior V.P. with Sony's Triumph
Pictures; Jerry Pierce, a Director, formerly Senior V.P. Technology with
Universal Pictures; Frederic Demey, Senior V.P. Distribution, experienced
as an independent international sales agent; Mike Kananack, V.P. Sales &
Acquisitions, highly experienced in the international marketplace; and
Jeffrey Hardy, Director of Marketing, who has provided data and marketing
advice to a wide array of companies in the industry through his firm Big
Horse Incorporated.

We are very excited to be taking out "THE BLACK BALLOON" in North America,
as it is a wonderfully directed and highly entertaining comedy with
serious underlying themes relating to autism. This well-acted coming of
age picture features a top Aussie cast with particularly outstanding
performances by Luke Ford ("THE MUMMY 3") and Toni Collette ("LITTLE MISS
SUNSHINE"), and newcomer supermodel Gemma Ward. A box office hit at home
in Australia, we believe American audiences will respond enthusiastically
to its entertainment value as well as its compelling underlying message.

ON BEHALF OF NEOCLASSICS FILMS LTD.

"Irwin Olian"
Irwin Olian
Chief Executive Officer

Distributed by Filing Services Canada and retransmitted by Marketwire

For more information, contact:

Irwin Olian
CEO
E-mail: Email Contact
Phone: (310) 559-9200
Cell: (213) 300-3200
Fax: (310) 559-9267

Media Publicity Information:
Hilary Morse Carver
Platform Media Group (PMG)
8265 Sunset Blvd. Suite 106
West Hollywood, CA 90046
Email: Email Contact
Phone: (323) 337-9042

Carrie Howes
European Corporate Communications
Email: Email Contact
Phone: London: +44 (0) 7780 602 788
Phone: Germany: +49 (0) 1722 1234 47

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