Image Entertainment and BTP Acquisition Company Revise Closing Date

CHATSWORTH, Calif.--(Business Wire)--Image Entertainment, Inc. (NASDAQ:DISK), a leading independentlicensee, producer and distributor of home entertainment programmingin North America, announced that it has agreed to extend thepreviously announced closing date of the acquisition of Image by BTPAcquisition Company, LLC from November 28, 2007 to December 3, 2007 toprovide BTP with additional time to finalize its financing for theacquisition. Additionally, Image has agreed that if BTP deposits intrust $2 million by the close of business on December 3, BTPmay extend the closing date to a mutually agreed upon date, which theImage Board has determined should not extend beyond December 7,2007. All other terms of the amended and restated merger agreementremain unchanged and in full force and effect. About Image Entertainment: Image Entertainment, Inc. is a leading independent licensee,producer and distributor of home entertainment programming in NorthAmerica, with approximately 3,000 exclusive DVD titles andapproximately 250 exclusive CD titles in domestic release andapproximately 450 programs internationally via sublicense agreements.For many of its titles, the Company has exclusive audio and broadcastrights and, through its subsidiary Egami Media, Inc., has digitaldownload rights to approximately 2,000 video programs and over 250audio programs containing more than 4,000 tracks. The Company isheadquartered in Chatsworth, California. For more information aboutImage Entertainment, Inc., please go to www.image-entertainment.com. Forward-Looking Statements: This press release includes forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995relating to, among other things, the proposed merger transactiondescribed in this press release. These statements may be identified bythe use of words such as "will," "may," "estimate," "expect,""intend," "plan," "believe," and other terms of similar meaning inconnection with any discussion of future operating or financialperformance. All forward-looking statements are based on management'scurrent expectations and involve inherent risks and uncertainties,including factors that could delay, divert or change any of them, andcould cause actual outcomes and results to differ materially fromcurrent expectations. These factors include, among other things, our inability to raiseadditional working capital, changes in debt and equity markets,increased competitive pressures, changes in our business plan, andchanges in the retail DVD and entertainment industries. For furtherdetails and a discussion of these and other risks and uncertainties,see "Forward-Looking Statements" and "Risk Factors" in our most recentAnnual Report on Form 10-K, and our most recent Quarterly Report onForm 10-Q. In addition, we may not be able to complete the proposedtransaction on the amended terms or other acceptable terms, or at all,due to a number of factors, including (1) the occurrence of any event,change or other circumstances that could give rise to the terminationof the merger agreement; (2) the outcome of any legal proceedings thathave been or may be instituted against Image Entertainment and othersfollowing announcement of the proposal or the merger agreement; (3)the inability to complete the merger due to the failure to satisfyconditions to the completion of the merger, (4) the failure to obtainthe necessary financing provided for in commitment letters receivedprior to execution of the definitive agreement; (5) risks that theproposed transaction disrupts current plans and operations and thepotential difficulties in employee retention as a result of themerger; (6) the ability to recognize the benefits of the merger; (7)the amount of the costs, fees, expenses and charges related to themerger and the actual terms of certain financings that will beobtained for the merger; and (8) the impact of any indebtednessincurred to finance the consummation of the merger. Many of thefactors that will determine the outcome of the subject matter of thispress release are beyond Image Entertainment's ability to control orpredict. Unless otherwise required by law, we undertake no obligationto publicly update any forward-looking statement, whether as a resultof new information, future events or otherwise.Image Entertainment, Inc.Jeff M. Framer, 818-407-9100 ext. 299jframer@image-entertainment.comCopyright Business Wire 2007