CANNES, FRANCE--(MARKET WIRE)--May 22, 2008 -- Peace Arch® Entertainment Group Inc. (AMEX:PAE - News) (Toronto:PAE.TO - News), an integrated global entertainment company, today announced that it has completed licensing agreements in key international territories for 31 motion pictures and television series at the 2008 Cannes Film Festival and Market in Cannes, France (May 14-25).

New licensing agreements closed by Peace Arch at Cannes include the romantic comedy "The Deal" (William H. Macy, Meg Ryan) to Scanbox for Scandinavia, to Videovision Entertainment for South Africa, to Wooriful Venture Capital for South Korea, and to Myndform for Iceland; drama "Winged Creatures" (Forest Whitaker, Kate Beckinsale, Dakota Fanning, Jennifer Hudson) to VR Films & Studios for India and to Myndform for Iceland; drama "Chapter 27" to Tandem for Bulgaria; sports drama "Goal 3" (Kuno Becker) to Videovision Entertainment for South Africa, to Film Media S.A. for Poland and to Alliance for Singapore; and dark comedy "The Babysitters" (John Leguizamo) also to Alliance for Singapore, to Videovision Entertainment for South Africa and to Tandem for Bulgaria.

Additional deals include the snowboard comedy "Shred" (Tom Green), horror-thriller "Devil's Mercy" (Stephen Rea), war drama "Time Bomb" (Jake Busey), and thrillers "Final Draft" (James Van Der Beek) and "Passion's Web" (Julie Warner) to Lusomondo for Portugal; DVD rights to the crime drama mini-series "Guns" (Elisha Cuthbert, Colm Feore) closed with Klockworx for Japan; dramas "All The Good Ones Are Married" (Darryl Hannah) and "Our Fathers" (Christopher Plummer, Brian Dennehy and Ted Danson) sold to Red Ant for Australia; the drama "Guantanamero" (Rupert Evans, Sir Derek Jacobi) to EIC-Lime-Light for Benelux; "All The Good Ones Are Married," horror "Ultimate Killing Machine" (Michael Madsen), thriller "Never Forget" (Lou Diamond Phillips) and "Passion's Web" to Videoconcept for CIS; family drama "Ace of Hearts" and war drama "The Four Horsemen" to Film Media for Poland: horror-thriller "Never Cry Werewolf" (Kevin Sorbo) to BS Filmcilik for Turkey; "Shred 2" (Tom Green) to ITV for Central Europe; "Guns," "Just Business" (Gina Gershon), family drama "Ace of Hearts" (Dean Cain), "Animal 2" (Ving Rhames), "Luna: Spirit of The Whale" (Jason Priestley, Graham Greene, Adam Beach) and crime drama "The Last Hit Man" (Joe Mantegna) to Tandem for Bulgaria; the romantic comedy "Watching The Detectives" (Cillian Murphy, Lucy Liu) sold to Bowline for Czech Republic and Slovakia; comedies "Shred" and "Shred 2," drama "Shadows In The Sun" (Harvey Keitel, Joshua Jackson, Giancarlo Giannini), drama "Guantanamero, and drama "All The Good Ones Are Married" sold to D Productions for Turkey; drama "Animal 2," "Bottom Feeder," "Shred" and "Shred 2," thriller "The Cradle" (Lukas Haas), "Devil's Mercy," "Final Draft" and crime drama "Just Business" to Hollywood Entertainment for Greece; and a seven title package to Horizon for Turkey consisting of four war dramas "The Four Horsemen," "The Veteran," "American Soldiers" and "Time Bomb" plus the dramas "Animal 2," "Hollywood Flies" and "Just Business."

About Peace Arch Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch is one of the leading independent theatrical and home entertainment distributors in North America, and owns one of the largest libraries of top quality independent feature films in the world, featuring more than 1,000 classic and contemporary titles. For additional information, please visit www.peacearch.com.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, that the corresponding restatement of the Company's financial statements may change based upon the Audit Committee's ongoing analysis, that the Company's ability to file required reports timely with the Securities and Exchange Commission will be impaired, that potential claims or proceedings may arise relating to such matters, that the Audit Committee in consultation with the Company's independent public accounting firm will determine that the proper accounting differs from the accounting treatment upon which the assumptions and forward looking statements in this release are based and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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