Falcon Entertainment Signs Joint Venture Distribution Agreement With American Music Corp.; Worldwide Distribution for Lions Gate 'Attraction' Soundtrack

Business Wire, Feb 6, 2001

Business/Entertainment Editors

NEW YORK--(BUSINESS WIRE)--Feb. 6, 2001

Falcon Entertainment Corp. (OTC BB: INDE) today announced that it has signed a joint venture agreement with American Music Corp. to distribute the upcoming Lions Gate Entertainment Corp. feature film soundtrack for the film "Attraction."

According to the agreement, Falcon Entertainment's wholly owned subsidiary, InVision(TM) Records, and American Music Corp. will distribute the "Attraction" soundtrack worldwide. "Attraction," a Lions Gate feature film and its accompanying soundtrack are scheduled for release on April 24, 2001. The soundtrack will feature over 15 titles sung by award-winning and popular artists including Rustic Overtones with David Bowie, Tori Amos, Moby, Rob Zombie and Morphine. The soundtrack will also feature a title by Saint Eve, an InVision recording artist and winner of the 2000 LA Music Award for "Outstanding Performance by a New Artist" for her song "Bridge of Sighs" from her soon to be released album.

Under the terms of the agreement, American Music Corp. is responsible for all manufacturing, licensing, marketing and promotional fees related to the distribution of "Attrraction." It is anticipated that the value of American Music Corp.'s cost for the joint venture will exceed $500,000. InVision Records will receive fifty percent (50%) of all net proceeds related to the distribution of the "Attraction" soundtrack. The agreement also calls for the distribution rights to any additional soundtracks that InVision Records enters into within twelve months under the same terms and conditions.

James Fallacaro, Chairman, President & CEO of Falcon Entertainment, stated, "Having retained the exclusive worldwide rights to the "Attraction" soundtrack, Falcon sought a strategic partnership that would optimize the distribution of "Attraction." American Music Corp. proved to be an ideal joint venture partner and we look forward to the mass distribution of "Attraction" this spring."

David Michery, President of American Music Corp, said, "We are pleased to have entered into this relationship with InVision and the creative team lead by Harlan Lansky, its president and Jim Fallacaro, its chairman and founder. Their unique understanding of the synergy between cinema and music and their business acumen to negotiate and obtain contracts from major and independent film studios creates a recipe for success for both our companies. We look forward to a long and prosperous relationship with the InVision/Falcon team."

About American Music Corp.

David Michery formed American Music Corp. two years ago; it is a diversified music and entertainment company. AMC's holdings include: World War III records, Up Rock Records, Aftershock Records and Cash Money Records. Among the talent are: the multi platinum artist Bizzybone, of Bone Thugs and Harmony, Mothers Army and D. Shot of E40 and The Click. David Michery has an extensive background in the music industry. His career includes the production of numerous platinum albums and an executive roll as Head of All American Music, D.B.A. Scotti Bros. Records, A&R for MCA Records and Zoo/BMG.

About Falcon Entertainment Corp.

Falcon Entertainment Corp. is a diversified entertainment company focused on three primary areas: broadcasting and cable networks, music, and the Internet. IMNTV was launched in June 2000 with the intention of broadcasting and webcasting (subject to content) all amateur and professional music television videos submitted from around the world on national cable and direct satellite television, 24 hours a day, seven days per week. IMNTV currently webcasts these music videos on its Internet website www.IMNTV.com.

Independent Music Network, Inc., InVision Records, Inc. and Ecity Records, Inc. are all wholly owned subsidiaries of Falcon Entertainment Corp. Falcon is headquartered in New York, NY.

This news release contains statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release that are not strictly historical are "forward looking" statements which are subject to the many risks and uncertainties that exist in Falcon's operations and business environment. These risks and uncertainties may cause actual results to differ materially from expected results and include, but are not limited to, the risk that Falcon may not be able to obtain additional capital and may have to curtail or cease operations, Falcon's limited operating history, unproven business model, history of losses and anticipation of continued losses, the potential volatility of Falcon's quarterly operating results, intense competition faced by Falcon, the risk that Falcon may not be able to attract advertisers or strategic alliances, and other risks which are set forth in Falcon's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-KSB for the fiscal year ended May 31, 2000 and its Quarterly Report on Form 10-QSB for the period ended August 31, 2000. This is neither an offer to buy or sell a security and is for informational purposes only.