Paradise Files Form 10-KSB for 2005

Business Wire, April 19, 2007

NEW YORK -- Paradise Music & Entertainment, Inc. (Paradise) today announced that it has filed its Form 10-KSB with the U.S. Securities and Exchange Commission (SEC) for the year 2005. It includes the audited financial statements for the fiscal year ended December 31, 2005.

The Form 10-KSB provides 2005 operating and financial results, as well as disclosure of financial risks, uncertainties and other factors which could affect the market price of Paradise's common stock. The 10-KSB can be found on file with the SEC at http://www.sec.gov.

About Paradise Music & Entertainment, Inc.

Paradise Music & Entertainment, Inc. (the "Company"), a diversified holding company, is focused on adding to its latest 2005 acquisition, Environmental Testing Laboratories, Inc. ("ETL"). Now a wholly owned subsidiary, ETL operates profitably in the nationwide $1.8 billion a year, environmental testing industry. The Company is seeking to attract and subsequently acquire additional companies operating in the environmental testing industry and manufacturing industries. The Company operates offices in New York and Colorado.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Paradise's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Paradise assumes no obligation to update the statements contained in this release.