CKX does not, as a matter of course, make public projections as to future performance or earnings and is especially wary of making projections for extended earnings periods due to the unpredictability of the underlying assumptions and estimates. However, in connection with its financing for the previously disclosed merger transaction between 19X and CKX, 19X has prepared certain financial projections for Elvis Presley Enterprises ("EPE"). Further, in connection with 19X's recently announced Option Agreement transaction with FX Real Estate and Entertainment Inc., 19X presented these projections to FXRE senior management and the FXRE board of directors for their review in connection with the approval of the transaction. The projections prepared by 19X are based on information provided by CKX and EPE in accordance with certain obligations of CKX under the merger agreement with 19X, including its obligation to provide cooperation reasonably requested by 19X in connection with its financing of the merger transaction.
In connection with its announcement of the transaction with 19X, FXRE has, with the consent of 19X, disclosed a compilation of the aforementioned projections in a Current Report on Form 8-K filed March 4, 2008. Based on this disclosure to the public, we have determined to provide this same compilation in order to ensure full and equal dissemination of the information to our investors. The inclusion of this information should not be regarded as an indication that any member of the Company's senior management or the board of directors, considers it to be a reliable prediction of future results.
The internal financial forecasts, upon which the projections were based, are subjective in many respects. The projections have not been audited or otherwise reviewed for reasonableness or accuracy by any professional advisors. The projections reflect numerous assumptions with respect to industry performance, general business, economic, market and financial conditions and other matters, all of which are difficult to predict and beyond the control, of EPE, 19X or CKX. The projections also reflect estimates and assumptions related to the business of EPE that are inherently subject to significant economic, political, and competitive uncertainties, all of which are difficult to predict and many of which are beyond EPE's control. As a result, there can be no assurance that the projected results will be realized or that actual results will not be significantly different than projected. In no event are these projections to be construed as a representation or warranty, express or implied, that the projected results will be obtained. Each stockholder or potential investor of CKX should make an independent judgment with respect to the reasonableness of the financial projections and assumptions.
Projections of this type are based on estimates and assumptions that are inherently subject to factors such as the factors described under "Forward-Looking Statements" below, which factors may cause the financial projections or the underlying assumptions to be inaccurate. Since the projections cover multiple years, such information by its nature becomes less reliable with each successive year.
For the foregoing reasons, as well as the bases and assumptions on which the financial projections were compiled, the inclusion of a compilation of these financial projections in this Form 8-K should not be regarded as an indication that such projections will be an accurate prediction of future events, and they should not be relied on as such. Except as required by applicable securities laws, the Company does not intend to update or otherwise revise the financial projections or the compilation presented to reflect circumstances existing after the date when made or to reflect the occurrence of future events, even in the event that any or all of the assumptions are shown to be in error. The financial projections do not take into account any circumstances or events occurring after the date they were prepared.

Set forth below is a compilation of the financial projections that were prepared by 19X as described above.
Elvis Presley Enterprises

5 Year Plan

                          2008         2009         2010         2011          2012          2013
 (in 000's)              Budget        Plan         Plan         Plan          Plan          Plan

 Licensing/royalties    $ 17,458     $ 18,331     $ 19,247     $  20,210     $  21,220     $  22,281
 Graceland operations     29,063       30,516       32,042        50,679        65,039        68,290
 Other                    13,345       10,790        2,929         3,118         4,820         3,528
 Cirque shows                  -            -       15,156        45,555        48,148        49,723
 FXRE                      9,000        9,000       18,000        18,000        21,600        45,376

 Total revenue          $ 68,866     $ 68,637     $ 87,375     $ 137,563     $ 160,827     $ 189,199

 Total OIBDAN (1)       $ 29,005     $ 31,743     $ 54,933     $ 101,120     $ 119,995     $ 147,642

 Maintenance Capex      $  1,248     $  1,310     $  1,376     $   1,445     $   1,517     $   1,593
 Growth Capex              9,100       19,015       52,000        12,000        10,000             -

 Total Capex            $ 10,348     $ 20,325     $ 53,376     $  13,445     $  11,517     $   1,593

(1) OIBDAN is a financial measure of operating income
(loss) before non-cash depreciation of tangible assets and non-cash amortization of intangible assets and non-cash compensation. 19X considers OIBDAN to be an important indicator of the future operational strengths and performance of Elvis Presley Enterprises and one of the critical measures it uses to evaluate its business, including the ability to provide cash flows to service debt. However, a limitation of the use of OIBDAN as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue. Accordingly,
OIBDAN should
be considered
in addition
to, not as a
substitute
for,
operating
income
(loss), net income (loss) and other measures of financial performance reported in accordance with U.S. Generally
Accepted
Accounting
Principles
(GAAP) as
OIBDAN is not
a GAAP
equivalent
measurement.

The information in this Report is being furnished pursuant to Item 7.01 of Form 8-K and General Instruction B.2 thereunder. Such information shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended.
Forward Looking Statements
Statements in this Current Report that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For further information regarding risks and uncertainties associated with CKX's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of CKX's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained at CKX's website at www.ckx.com or at the SEC's website at www.sec.gov.