Imagi Announces USD $40 Million Equity Placement with Oxley Spring Media

Hong Kong (July 9, 2008) – Imagi International Holdings, Limited (HKSE Stock Code: 585) today announced agreement on terms for the placement of USD $40 million in ordinary shares to Singapore-based Oxley Spring Media Limited.

Under the terms of the transaction, Oxley Spring Media will acquire approximately 362,791,000 shares priced at HKD $0.86 per share. On a fully diluted basis, the shares will represent an approximate 18.1% ownership stake in Imagi International Holdings Limited as enlarged by the placing shares. An initial $20 million tranche is expected to close soon. The second $20 million tranche is expected to close within the next month, following Imagi shareholder ratification of the transaction.

This investment is representative of a strategy by Oxley Spring Media to target Asia- based leisure, entertainment and media investment opportunities. “Imagi is one of only a handful of global animation film studios, said Mark Pawley, a Director of Oxley Spring Media. “Moreover, it is the only one which is headquartered in Asia, with all the attendant cost and other benefits. We look forward to further increasing our stake as the company requires additional growth capital. We view Astro Boy as one of the most exciting mass market movies in production today.” “Investors like Oxley Spring Media are enabling Imagi to build a library of mass market superhero brands, anchored by top quality computer graphics (“CG”) animated feature films,” said Douglas Glen, Imagi CEO.

The proceeds of the transaction will be used in the production of computer graphics animated feature films, including Imagi's 2009 release Astro Boy.

Imagi last month announced that it had entered into a global alliance with Summit Entertainment whereby Summit will distribute Astro Boy worldwide except for Imagi's reserved territories of Japan, Hong Kong and China.

Originally created by the “god of manga” Osamu Tezuka, Astro Boy has been one of the world's most beloved superhero characters for over 50 years. The original animated television series aired in the 1960s and was followed by subsequent versions in the 1980s and again in 2003.

Imagi's feature film version of Astro Boy tells the story of a young robot with incredible powers created by a brilliant scientist to replace the son he has lost. Unable to fulfill the grieving father's expectations, our hero embarks on a journey in search of acceptance, experiencing betrayal and a netherworld of robot gladiators, before he returns to save Metro City and reconcile with the man who had rejected him.

Astro Boy is directed by David Bowers (Flushed Away, Shark Tale, Wallace & Gromit Curse of the Were-Rabbit), written by Timothy Harris (Space Jam, Twins, Trading Places, Kindergarten Cop), and produced by Maryann Garger (Flushed Away, Prince of Egypt, Spirit). Voice talent includes Freddie Highmore, Nicolas Cage, Bill Nighy, Nathan Lane, and Eugene Levy.

About Imagi

Imagi International Holdings Limited (“Imagi”) is listed on the main board of the Hong Kong Stock Exchange. Imagi's principal business is the development and production of computer graphics animated theatrical feature films. Imagi's first theatrical movie TMNT was released in March 2007, opening number one in U.S. box office revenue, only the third time in history that an Asian-made film has achieved that honour. Imagi has development operations in Los Angeles, California, and CG production studios at its Chai Wan (Hong Kong) headquarters.

About Oxley

Oxley Group is a private investment house with a focus on real estate, leisure, and entertainment investments. Oxley typically acts as principal to secure transactions and co-invest in partnership with our shareholders and select institutional clients. Oxley is overseen by a highly experienced Board and management team who have worked in Asia over many years. Oxley's Real Estate and Private Equity teams have completed investments in Singapore, Malaysia, Vietnam, China, India and Australia.

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