Shareholders´ letter

Dear shareholders,

The terrorist attacks on 11th September in the U.S.A. have deeply shocked all of us. The staff as well as the Board of Intertainment AG, who have numerous close contacts with American friends and business part-ners, truly sympathize with the relatives of the victims.

These attacks have also had an impact on the capital market. Many shareholders are now uncertain about the future development of business operations that have close business ties with the U.S.A. In particular, the film industry has reacted to these event by interrupting productions and closing cinemas during the days following the terrorist attacks because of a heart-felt respect for the victims. Due to the feelings of reverence and respect for the relatives of victims, corresponding changes were added to individual films in some cases.

However, the production projects of Intertainment AG are not involved in the above measures. Intertainment intensively co-operates e.g. with Ko-pelson Entertainment and without any delay as regards two large film pro-jects: "Window to Atlantis", a film of the supernatural genre, and the thriller "Decoy" are the two first films of our common production that will pre-sumably be released and be showing in the cinemas at the end of next year.

The latest film that was produced by the Oscar award winner Arnold Ko-pelson "Don't Say a Word", still made by order of Twentieth Century Fox, and with Michael Douglas starring in it, will start in due time on 28th Sep-tember in the US movie theaters. This thriller is about a psychiatrist, who is blackmailed by the kidnappers of his daughters demanding an unusual "ransom".

For further information about the current situation of the company, please see our half-yearly balance report 2001 at the Internet address www.intertainment.de. You may also request the printed hardcopy version of this report from us.

With kind regards

Rüdiger Baeres
Chief Executive Officer

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