Imaginasian Entertainment and Fujisankei Communications International Enter into Strategic Investment and Content Deal

Feb 11th 2008
Fujisankei to Join ImaginAsian and Sidus to Strengthen US Pan-Asian Media and Entertainment Business

NEW YORK, February 11, 2008 — ImaginAsian Entertainment, Inc. (IA) announced today that it has entered into an investment and content deal with Fujisankei Communications International (FCI), a subsidiary of Japan-based Fuji Television Network, Inc. (TYO:4676). The announcement was jointly made today by Augustine Hong, Chairman and CEO of IA and Akifumi Takuma, Executive Director of International Business Development at FCI.

Fujisankei joining the ownership ranks of ImaginAsian Entertainment marks the second such investment from an Asian media or entertainment partner for IA. Seeking to continue the strategic expansion that was initiated with Korea's Sidus Corp. last year, the financial and content elements resulting from this deal are expected to further enhance IA's overall programming quality. “Fujisankei's decision to invest and marry their US media goals with IA's vision is a reflection on the emphasis Asian media companies are placing on leveraging their strategic importance in the market place – the companies that have the most to gain are getting smarter and organizing. For the first time, there is a collaborative effort to create a cohesive and efficient market place for advertisers in Asian American media. I am very proud that IA, along with Fujisankei, Sidus, and other significant partners that will soon be announced are leading this charge,” said Augustine Hong.

Through this agreement, Fujisankei will be making a financial investment in IA while also providing multiple hours of programming in the form of news and entertainment content, including popular Japanese dramas and variety shows for iaTV in the US. “We are very pleased to have joined forces with a partner that has a solid understanding of this industry and the foresight to take the necessary steps to grow the market,” said Akifumi Takuma of FCI. “We have been in this market for a substantial number of years and see this as a natural next step.”

“This partnership will allow Fujisankei to leverage its content to help create the clear leader in the Asian American media space by utilizing IA's various vehicles such as the linear cable network, VOD, theaters, and home entertainment,” said J. Edward Lee, President and COO of ImaginAsian Entertainment. “The goal for IA is a clear one – we will continue to aggregate top content from Asia and strategic scale through the active participation of key strategic partners and execute a unified business strategy that will serve the best interests of our cable partners, advertisers, and most importantly, our consumers.”

About Fujisankei Communications International

Established in 1986, Fujisankei Communications International, Inc. (FCI) is the overseas branch of the Fuji Television Network, Japan's highest-rated commercial broadcast network (www.fujitv.co.jp). With seven offices in the U.S., Europe and the Middle East, FCI delivers information to Japan through the Fuji Television Network and The Sankei Shimbun newspaper. In addition to broadcasting, distributing and acquiring television programming for Japan, FCI has also built an impressive track record of bringing original television content to US audiences. Programs produced by FCI that have aired on US channels include the young-adult smash hit “MANswers” for Spike TV, and the successful pilot “VIKING: THE ULTIMATE OBSTACLE COURSE CHALLENGE” for ESPN2. FCI is now in production with Buena Vista International Television on an American version of a reality/gameshow format for the Sci Fi Channel. FCI also explores media investment opportunities for Fuji Television and its affiliated companies in the Fujisankei Communications Group, and helps overseas companies penetrate the Japanese market.

About ImaginAsian TV & ImaginAsian Entertainment, Inc.
ImaginAsian Television® (iaTV®) is the television destination For All Things Asian®, offering audiences a diverse selection of top-notch movies, anime, dramas, documentaries, music and original programming from Asia and the U.S. Fully advertiser-supported, ImaginAsian TV is currently carried on cable systems in New York, Los Angeles, San Francisco, Houston, Dallas, Hawaii and parts of New Jersey, as well as via broadcast in Edison, NJ. ImaginAsian TV (www.iaTV.tv) is an integral division of ImaginAsian Entertainment, Inc.
ImaginAsianTM Entertainment, Inc. (www.iaei.tv) is a multimedia company that promotes Asian Pacific American culture to mainstream America. Headquartered in New York City, ImaginAsian Entertainment uses a fully integrated marketing strategy through multiple platforms: ImaginAsian TV® (America's First 24/7 Asian American Network), The ImaginAsian Theater® (New York's Premier Asian American Theater), The ImaginAsian CenterTM (L.A.'s premier Asian American film and cultural center), ImaginAsian PicturesTM (distribution of cutting-edge and critically acclaimed Asian films), ImaginAsian Home EntertainmentTM (video/DVD unit dedicated to quality Asian home entertainment), ImaginAsian Radio® (the sound of Asian America), and iaLink® (ImaginAsian's community-based e-zine).

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