Peak Entertainment Forms Strategic Alliance With Maverick Entertainment plc

Peak Entertainment Forms Strategic Alliance With Maverick Entertainment plc

The Company Continues Its Focus on Positive Children's Programming

NEW YORK, March 22 /PRNewswire-FirstCall/ -- Peak Entertainment Holdings Inc., (BULLETIN BOARD: PKEH) , a fully integrated multimedia company dedicated to quality children's television entertainment, character licensing and consumer products, announced today that it has obtained the exclusive worldwide licensing rights to Maverick Entertainments Plc's intellectual property portfolio, which includes the BBC-commissioned classic retro-brand 'Muffin the Mule', which is expected to air in the fall of 2005, and the highly-rated 'Snailsbury's Tails', which aired last year.

Peak Entertainment and Maverick Entertainment have entered into a mutually advantageous agreement that is expected to enhance their respective commercial marketability. The new relationship will deliver multi-continental fully-integrated entertainment, production, distribution (television and home video), publishing, merchandising and licensing capabilities.

Each company's respective business activities in the entertainment arena have many common areas of synergy. Current animation projects include Peak's action adventure series 'Monster Quest', and its pre-school show 'The Wumblers', as well as, Maverick's revival of the BBC 's classic retro-brand 'Muffin the Mule' and 'Snailsbury's Tails'. The merged intellectual property portfolio will deliver a truly international broadcast proposition from which to fully exploit the highly lucrative licensing and merchandising rights that have been created.

"By harnessing Peak's credentials in the worldwide exploitation of IP, brand marketing, licensing and toy manufacturing with Maverick's production, publishing, DVD and video expertise we will take our 'concept to consumer' vision to a new level," commented Wilf Shorrocks, Chief Executive Officer and co-founder of Peak.

The new relationship will further provide an increased depth of management and experience. This comprehensive pool of talent will dovetail to deliver improved execution and extensive complimentary opportunities.

Mike Diprose, Chief Executive of Maverick Entertainment Plc, added, "Both boards feel that this agreement will provide the business with a real competitive advantage and, as such, the rationale is obvious. The commercial opportunities are endless and with a potential to improve the trading position of both companies exponentially. It is with great anticipation that both companies have come to this decision to work together in partnership."

Phil Ogden, Managing Director of Peak concluded; "Considered industry thinking suggests that commercial successes in the TV-derived children's entertainment business are a fusion of quality production to an international broadcast platform. Companies who have the ability to control and execute all these key factors from within a fully integrated business model have the opportunity to succeed".

About Peak Entertainment

Peak Entertainment Holdings Inc. is a fully integrated multimedia company dedicated to quality children's television entertainment, character licensing and consumer products. The Company's unique, fully integrated business model, which includes concept creation and branding, production of entertainment programs, character licensing, and manufacturing and distribution of toys and related consumer products, gives it maximum quality control and speed-to-market while developing total brand equity. Peak's properties include Monster Quest, The Wumblers, Little Big Feet, Countin' Sheep and Mini Flora. For more information please visit the Company's website at http://www.peakentertainment.co.uk/.

About Maverick Entertainment

Maverick Entertainment Group plc ("Maverick"), the AIM listed company specialising in the creation, acquisition and development of IPR in children's films, television programmes, characters and related entertainment products. Mavericks' Intellectual Property Rights portfolio includes children's icon Muffin the Mule and Snailsbury Tails. Its publishing division represents characters such as Bananas in Pyjamas, Hairy Maclary, Fairly Odd Parents, 64 Zoo Lane and the Nelvana Home Video Catalogue. Muffin the Mule was the UK's first children's TV character, making his BBC premiere on 20 October 1946. Hugely successful in the 50s and 60s and now very much part of English heritage, he is due to return to the screens in 2005, just in time for his 60th birthday. Maverick will initially produce forty, 10 minute episodes to transmit on the BBC in 2005 and 2006. The animation team for Muffin was also behind the successful Snailsbury's Tales, shown on Cbeebies and CBBC last year and due to air again this year. For more information log onto (http://www.maverickentertainment.com/)

Company Contact: Phil Ogden Managing Director +44 1629 814555 p.ogden@peakentertainment.co.uk

Safe Harbor Statement

The foregoing, as well as other statements made by Peak, may contain forward-looking statements regarding Peak. The words and phrases "expect", "estimate", "anticipate", "believe" and similar expressions identify forward- looking statements. Such statements reflect, when made, the Company's current views, beliefs and expectations with respect to current events and financial performance, and are and will be, as the case may be, subject to significant risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of its financing arrangements; the Company's ability to obtain additional financing; the ability of the Company to obtain trade credit, and shipments and terms with vendors and service providers for current orders; the Company's ability to maintain contracts that are critical to its operations; potential adverse developments with respect to the Company's liquidity or results of operations; the ability to fund and execute its business plan; the ability to attract, retain and compensate key executives and associates; and the ability of the Company to attract and retain customers, as well as those discussed or identified from time to time in the Company's public filings with the Securities and Exchange Commission. Peak assumes no obligation to update or revise any forward-looking statements set forth in this news release, which speaks as of the date specified.

Source: Peak Entertainment Holdings Inc.

CONTACT: Phil Ogden, Managing Director of Peak Entertainment Holdings Inc., +44-1629-814555, or p.ogden@peakentertainment.co.uk

Web site: http://www.peakentertainment.co.uk/ http://www.maverickentertainment.com/

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