``BUBBLE'' Grosses Estimated $5 Million in Opening Weekend with Day-and-Date Strategy

Business Wire, Jan 30, 2006

NEW YORK -- HDNet Films and Magnolia Pictures announced today that their day-and-date release strategy for BUBBLE has grossed approximately $5 million in total revenues in its opening weekend, including box office, DVD pre-orders and other revenues. The Steven Soderbergh film, called a "masterpiece" by Roger Ebert and bold in both its distribution strategy and its artistic approach, exceeded the companies' total revenue expectations.

DVD orders for BUBBLE so far have been four times normal expectations. The film also experienced an increase in box office sales from Friday through the rest of the weekend, suggesting that word of mouth is positive for the film and could possibly result in an extended run.

"We are very happy with the results so far of this first day-and-date release, and while theatrical performance was not as high as we would have liked, it compared favorably to other similar films released this weekend," said Mark Cuban, co-owner of HDNet Films, Magnolia Pictures and Landmark Theatres. "More importantly, when combined with DVD pre-orders and other revenues from our composite strategy, our opening weekend performance firmly registers BUBBLE's day-and-date release as a profitable venture."

First Weekend Estimated Revenues for BUBBLE:
Box Office: $72,000 on 32 screens, a $2,250 per screen average
Combined Revenues from DVD cumulative pre-orders and other revenues:
$5 million

"With a production budget of $1.6 million and a modest marketing budget that covered both theatrical and DVD releases in one spend - one of the cornerstones of the day-and-date program - this proves the strategy can work," said Todd Wagner. "We are very pleased with the overall results of this first step, and we plan to refine the marketing strategy and continue to release more films in this manner."

The following HDNet Films productions are being considered for day-and-date release in the near future:

--ONE LAST THING..., a bittersweet comedy written by Barry Stringfellow and directed by Alex Steyermark, starring Michael Angarano and Cynthia Nixon;

--DIGGERS, a 70s-era period piece written by Ken Marino and directed by Katherine Dieckmann and starring Paul Rudd, Maura Tierney, Josh Hamilton and Lauren Ambrose

--ALL FALL DOWN, a sophisticated urban drama directed by Matt Tauber and starring Anthony LaPaglia, Isabella Rossellini and Viola Davis;

--QUID PRO QUO, a dark comedy written and directed by Carlos Brooks and produced by Midge Sanford and Sarah Pillsbury;

--HUNTER, the story of the life and death of infamous gonzo journalist Hunter S. Thompson, from Alex Gibney, director of ENRON: THE SMARTEST GUYS IN THE ROOM, and producer Graydon Carter;

--HERBIE HANCOCK: POSSIBILITIES, a performance-driven, behind-the-scenes look at the making of the acclaimed musician's just-released album "Possibilities," featuring Hancock's collaboration with such musicians as Sting, Santana and John Mayer;

--S&MAN, a film directed by J.T. Petty that explores the relation between voyeurism and horror films;

--FAY GRIM, from maverick director Hal Hartley and Parker Posey and starring Jeff Goldblum, a funny and provocative take on the world of international espionage;

--SURFWISE, produced by Graydon Carter and delves into the life of legendary Malibu surfer Dorian "Doc" Paskowitz, who introduced the sport to Israel in the 1960s; and

--A Soderbergh-directed documentary about the never-performed monologue Spalding Gray left behind before he committed suicide last year.

About HDNet Films

HDNet Films' mandate is to develop, finance and produce a slate of feature films shot in High Definition and intended for simultaneous release through various media holdings owned by Todd Wagner and Mark Cuban, with distribution through Magnolia Pictures, theatrical exhibition through Landmark Theatres among others, day-and-date television premieres on the HDNet Movies network, and home video distribution through Magnolia Home Entertainment. The first HDNet Films production to hit the market in April 2005, Alex Gibney's "Enron: The Smartest Guys in the Room," has landed among the top 15 highest-grossing nonfiction films of all time. For more information: www.hdnetfilms.com. HDNet Films is headed by Jason Kliot and Joana Vicente.

About Magnolia Pictures and Magnolia Home Entertainment

Magnolia Pictures is an independent distribution company that has distributed the Academy-award nominated "Capturing the Friedmans," as well as "Control Room," "Woman, Thou Art Loosed," "Ong Bak," "Enron: The Smartest Guys in the Room" and "Bubble." Upcoming releases include "The World's Fastest Indian," starring Anthony Hopkins. Magnolia Home Entertainment, launched in November 2005, is the home video division of Magnolia Pictures, and both companies are part of a vertically-integrated group of media properties co-owned by Todd Wagner and Mark Cuban that also includes the Landmark Theatres chain, production companies HDNet Films and 2929 Productions, high-definition cable networks HDNet and HDNet Movies, and film and television library Rysher Entertainment. For more information: www.magpictures.com.