Independent Film Development Corporation Acquires Majority Interest of Imperia Entertainment

Independent Film Development Corporation Acquires Majority Interest of Imperia Entertainment

BEVERLY HILLS, Calif., Nov. 29 /PRNewswire-FirstCall/ -- Imperia Entertainment, Inc. (Pink Sheets: IPEI) announced today that its majority voting securities have been acquired by Independent Film Development Corporation, a company with a plan of operations to acquire interests in film production and distribution entities. The acquisition is the first for Independent Film Development Corporation, which has slated its next acquisition as a film distribution company. In conjunction with the acquisition, Chairman Kenneth Eade transferred 220,000 preferred convertible shares, and agreed to cancel the remaining preferred shares he holds. "We are delighted to be involved with a company who intends to combine production with distribution, which is the most profitable segment of the film business," said Eade. "This is great news for our newly completed film, "Say it in Russian," and our current film in pre-production, "Never Submit," he added.

ABOUT IMPERIA ENTERTAINMENT

Imperia Entertainment, Inc. (http://www.imperiaentertainment.com/) is a company that has emerged as a player in the area of independent film production and distribution. The company engages in investing in and producing full-length feature films. Imperia's film properties include its feature film, "Say It In Russian" (http://www.imperiaentertainment.com/Say%20It%20In%20Russian.html#), starring Faye Dunaway, and "Never Submit," starring Corey Sevier, Ernie Hudson and star MMA fighters Ken Shamrock, Josh Koscheck, Michael McDonald, Mauricio Shogun Rua, and Nate Quarry, the award-winning "Autograph" television series, and "The New Three Stooges" cartoon series, a series of 156 cartoons and 41 live wraparound skits featuring The Three Stooges.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Imperia Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

First Call Analyst:
FCMN Contact:

Source: Imperia Entertainment, Inc.

CONTACT: Kenneth Eade of Imperia Entertainment, Inc., +1-310-275-0089,
info@imperiaentertainmentinc.com

Web site: http://www.imperiaentertainment.com/

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Profile: International Entertainment