Lionsgate Reveals Board Vote vs Carl Icahn

SANTA MONICA, Calif. and VANCOUVER, B.C. — December 16, 2010 — Lionsgate announced today that IVS Associates, Inc., the independent Inspector of Elections, has released its preliminary report for Lionsgate’s 2010 Annual General Meeting of Shareholders held on December 14, 2010.

Based on the preliminary tabulation by IVS Associates, Lionsgate shareholders have elected to the Lionsgate Board of Directors all twelve of the Company’s director nominees by a clear and convincing margin: Norman Bacal, Michael Burns, Arthur Evrensel, Jon Feltheimer, Frank Giustra, Morley Koffman, Harald Ludwig, G. Scott Paterson, Mark H. Rachesky, Daryl Simm, Hardwick Simmons and
Phyllis Yaffe.

Lionsgate issued the following statement:

“These results are a clear indication that Lionsgate shareholders understand our vision for Lionsgate and the tremendous potential for continued value creation under this Board and management team.

With the right leadership in place, Lionsgate is focused on continuing to build on the momentum over the last year, in which we achieved record results across our business.  We thank our shareholders for their strong support throughout this process and we look forward to continuing to execute on our strategy for the benefit of all shareholders.”

With 93.92% of the total eligible shares voted, the results as a percentage of shares voted on directors are as follows:

Prior to the closing of the polls at the Annual General Meeting, all proxy cards received by the Company and the Icahn Group were turned over to the independent inspector of elections, IVS Associates, Inc., for final tabulation and certification. Final results will be announced once they have been certified, which is expected to occur in the coming days.

In addition, at the Annual General Meeting, shareholders voted to reappoint Ernst & Young LLP as auditors of the Company at remuneration to be fixed by the audit committee.

Morgan Stanley & Co. Incorporated is serving as financial advisor to Lionsgate and Heenan Blaikie LLP is serving as legal advisor. Perella Weinberg Partners LP is serving as financial advisor to the Special Committee of the Lionsgate Board of Directors and Wachtell, Lipton, Rosen & Katz is serving as U.S. legal advisor.

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