SANTA MONICA (October 28, 2011) – Miramax Film NY, LLC  today announced its intentions to refinance its outstanding indebtedness with a film rights and contracted receivables asset-backed securitization (the “Miramax Film-Library Securitization”). It is anticipated that, subject to market and other conditions, the Miramax Film-Library Securitization will close in the fourth quarter of 2011.

The notes to be issued under the new securitization facility will be offered and sold to buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933. The notes will not be registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

The Miramax Film-Library Securitization is subject to market and other conditions, so there can be no assurance that it will be completed on terms that are satisfactory to Miramax or at all.