Movie Gallery US, LLC / Hollywood Entertainment Corp. Retains Keen Consultants to Auction Five Hundred Twenty One Retail Leases and Sixteen Fee-Owned Properties

Business Wire,  Oct 18, 2007  

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Bid Deadline: November 12, 2007

Auction Date: November 15, 2007

GREAT NECK, N.Y. -- Movie Gallery US, LLC/ Hollywood Entertainment Corp. has retained, subject to Bankruptcy Court approval, Keen Consultants, the real estate division of KPMG Corporate Finance LLC and its wholly owned subsidiary KPMG CF Realty LLC, to market and assist with the disposition of 16 fee-owned retail properties and 521 of the company's retail leasehold interests located nationally. Movie Gallery is the second largest North American video rental company, operating under the Movie Gallery and Hollywood Video brands.

"We are very excited to offer these leases and fee-owned properties for sale. The leases include favorable rental rates, and many of these stores are located in prime shopping centers throughout the country. The fee-properties are located in Alabama, Mississippi, North Carolina and Texas, and consist of retail buildings and excess land," said Matthew Bordwin, a Managing Director with KPMG Corporate Finance LLC. "A bid deadline of November 12, 2007 and an auction date of November 15, 2007 have been established, and all interested parties are required to submit bids in accordance with the bid procedures set forth by the Court. All bids are subject to Bankruptcy Court approval," Bordwin added. The locations range in approximate size from 840 sq. ft. to 21,000 sq. ft.

On October 1, 2007 KPMG Corporate Finance LLC, a full service, independent, middle-market investment bank, announced it has acquired substantially all of the assets of Keen Consultants, LLC and Keen Realty, LLC. Keen Consultants will operate as the Real Estate Division of KPMG Corporate Finance LLC. Established in 1982, Keen specializes in selling excess assets and restructuring real estate and lease portfolios for companies in bankruptcy. Keen has had extensive experience solving complex problems and evaluating and selling real estate, leases and businesses. Keen, a leader in identifying strategic investors and partners for businesses, has consulted with hundreds of clients nationwide, and evaluated and disposed of more than 20,000 properties containing nearly 2,000,000,000 sq. ft. across the country. Recent clients include: Cable & Wireless, Meadowcraft, American Candy, Spiegel/Eddie Bauer, Arthur Andersen, Service Merchandise, Tommy Hilfiger, Warnaco, and JP Morgan Chase.

For more information regarding the disposition of these leaseholds for Movie Gallery US, LLC / Hollywood Entertainment Corp., please contact Keen Consultants, 60 Cutter Mill Road, Suite 214, Great Neck, NY 11021, Telephone: 516-482-2700, Fax: 516-482-5764, e-mail: mbordwin@keenconsultants.com Attn: Matthew Bordwin.

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