Summary of EDCI HOLDINGS, INC.

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 2, 2009, EDCI Holdings, Inc. ("EDCI"), the holding company for Entertainment Distribution Company, Inc., the majority shareholder of Entertainment Distribution Company, LLC ("EDC"), issued a press release announcing that Robert L. Chapman, Jr. has resigned as the Chief Executive Officer of EDCI and EDC effective July 2, 2009. Mr. Chapman also resigned from the Board of Directors (the "Board") of EDCI.

As a result of the foregoing, the Board of EDCI has appointed Clarke H. Bailey, EDCI's non-Executive Chairman of the Board, as Chief Executive Officer of EDCI and Interim Chief Executive Officer of EDC, effective July 2, 2009. Mr. Bailey's compensation arrangement is currently under review by the Compensation Committee of the Board and is expected to be finalized in the upcoming weeks. There have been no other changes to the terms of Mr. Bailey's employment or to Mr. Bailey's biography included in the proxy statement filed with the Securities and Exchange Commission on April 3, 2009. There are no transactions in which Mr. Bailey has an interest requiring disclosure under Item 404(a) of Regulation S-K.

This EDCI press release is attached as Exhibit 99.1 and is incorporated herein in its entirety.