Item 5.02. Departure of Directors or Certain Officers.

On February 23, 2009, the Board of Directors of Helios & Matheson North America Inc. (the "Company") and Mr. Michael Prude, the Company's Chief Operating Officer, agreed that Mr. Prude would be terminating his employment with the Company and that his responsibilities would be redistributed to the remaining members of the Company's senior management team. Under the terms of Mr. Prude's employment agreement, with which the Company intends to comply, his final day with the Company will be April 30, 2009.

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