Kings Road Entertainment Inc. Completes Filing of Forms 10-K and 10-Q and Announces Cooperation Agreement for Star TV

Business Wire, Oct 7, 1999

LOS ANGELES--(BUSINESS WIRE)--Oct. 7, 1999--

Kings Road Entertainment Inc. (the "company")(Nasdaq/SC:KRENE)(Frankfurt:KRE), Thursday announced that it filed its form 10-K for the fiscal year ended April 30, 1999 and Form 10-Q for the fiscal period ended July 31, 1999, on Sept. 28 and 29, 1999, respectively.

As previously reported by the company in a Form 8-K filing on Aug. 13, 1999, the company had been notified by the Nasdaq Stock Market ("Nasdaq") that its common stock may be delisted from the Nasdaq Small Cap Market.

The company filed its financial reports prior to attending a delisting hearing conducted by Nasdaq on Sept. 30, 1999, at which hearing the company presented its position that its listing should be continued.

While the company believes that it presented a strong case for the continuation of its listing, the ultimate determination depends on the conclusion to be reached by Nasdaq, which the company expects to be advised of within the next several weeks.

The company also announced that Star TV, a Swiss-based company in which the company holds a significant equity interest, has entered into a co-operation agreement with Odeon Film AG Munich Bavaria Studios ("Odeon"), a company publicly traded on the German Neue Markt and a member of the Bavaria Studio Group of Companies.

Under the agreement, Odeon will feature Star TV programming on its recently launched Filmstadt.de "lifestyle" Web site (www.filmstadt.de), which will provide a variety of German films and television programs, together with a news and profile service on pending TV and film productions.

The agreement also includes the launch of an e-commerce facility, which is presently under construction and anticipated to be launched by the beginning of next year.

Star TV (www.startv.ch) is Switzerland's top cable television channel and is the largest independently-owned station in the capital city of Zurich. Star reaches more than 75 percent of Swiss households and has tripled its daily audience over the last three years to a minimum of 500,000 viewers.

The core channel audience typically covers the 15-34 age group, which advertisers view as one of the most highly sought after target audiences.

Except for historical information, this news release may include forward-looking statements that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, competition and other risks detailed in the company's Securities and Exchange Commission filings. Actual results may differ materially from such information set forth herein.