Press release by Intertainment AG
Court allows Franchise's attorneys to withdraw as counsel
New date for jury trial is August 5, 2003
Intertainment pushes ahead its legal case against Comerica Bank, Film Finances and Worldwide Film Completion
Ismaning near Munich, December 18, 2002 - The Judge of the US District Court of California granted the motion of the attorneys of Franchise Pictures to withdraw as counsel. At the end of November, the attorneys filed a motion with the US District Court to withdraw as counsel on basis of an alleged
conflict with Franchise and its CEO, Elie Samaha, as well as for failure to pay legal fees. The court ordered that Franchise shall file an appearance of new counsel no later than January 31, 2003.
In addition, the Court set the jury trial for August 5, 2003 in the law suit of In-tertainment Licensing GmbH vs. Franchise Pictures. "We regret this
postponement of the trial," commented Rüdiger Baeres, Chief Executive Officer of Intertainment AG. "Intertainment will now use the timeframe provided by the Court ruling to push ahead vigorously its legal case against Comerica Bank, film bond companies Film Finances and Worldwide Film Completion, as well as individual members of these companies, on grounds of their
involvement in the fraudulently inflated film budgets."
Contact:
Intertainment AG, Marietta Birner, Investor Relations, Osterfeldstraße 84, 85737 Ismaning
Telephone: +49/ 89 / 216 99 - 0, Telefax: +49 / 89 / 216 99 - 11,
Internet: www.intertainment.de , E-Mail: investor@intertainment.de