Lionsgate Reports Record Revenue of $1.584 Billion and Net Loss Attributable to Shareholders of $19.5 Million For Fiscal 2010, Compared to Revenue of $1.466 Billion and Net Loss Attributable to Shareholders of $178.5 Million in Prior Year

Lionsgate Reports Record Revenue of $1.584 Billion and Net Loss Attributable to Shareholders of $19.5 Million For Fiscal 2010, Compared to Revenue of $1.466 Billion and Net Loss Attributable to Shareholders of $178.5 Million in Prior Year

Adjusted EBITDA is Record $128.5 Million Compared to Negative $122.9 Million In Prior Year Basic Net Loss Per Common Share Is $0.17 For Fiscal 2010 Compared To Basic Net Loss Per Common Share of $1.53 In Prior Year Company Also Achieves Record EBITDA of $80.1 Million In Fiscal 2010 Compared To EBITDA of Negative $133.6 Million In Prior Year

SANTA MONICA, Calif., and VANCOUVER, June 1 /PRNewswire-FirstCall/ -- Fueled by strong gains in its television division, a record library performance, new revenue from TV Guide Network and TV Guide.com and a decline in theatrical and home entertainment marketing and distribution costs, Lionsgate (NYSE:LGF), the leading next generation studio, today reported record revenue, adjusted EBITDA and EBITDA for the fiscal year ended March 31, 2010.

The Company reported revenue of $1.584 billion and net loss attributable to Lionsgate shareholders of $19.5 million for the fiscal year ended March 31, 2010. Revenue increased 8% from the prior year due primarily to increases in television production revenue and new revenue of $113.6 million from TV Guide Network and TVGuide.com which offset declines in the motion picture business driven by fewer theatrical releases.

The Company's net loss attributable to shareholders of $19.5 million for fiscal year 2010 compared to a net loss attributable to shareholders of $178.5 million in the prior year. The net loss included a $28.1 million loss for equity interests, primarily relating to Epix's $26.6 million loss, including approximately $7.9 million of intercompany profit elimination.

Basic net loss per common share for the fiscal year was $0.17 on 117.5 million weighted average common shares outstanding, compared to basic net loss of $1.53 on 116.8 million weighted average common shares outstanding in the prior year.

The Company reported record adjusted EBITDA of $128.5 million for fiscal year 2010 compared to adjusted EBITDA of negative $122.9 million for the prior year, a positive swing of more than $250 million. The Company also reported EBITDA of $80.1 million for fiscal year 2010 compared to EBITDA of negative $133.6 million in the prior year.

The gains were primarily attributable to strong performances in its television business, positive EBITDA contribution from TV Guide Network and a significant decline in marketing and distribution costs due to fewer theatrical releases. In addition, the prior year's results included the writedown in HIT Entertainment. Marketing and distribution costs of $515.8 million in fiscal year 2010 declined 23% from $669.6 million in the prior year.

EBITDA is defined as earnings before interest, income tax provision, depreciation and amortization, equity interests and gains or loss on extinguishment of debt and the sale of equity securities.

"We had a very strong year with contributions from all of our businesses. We are particularly pleased by the continued rapid growth of our television business, the ongoing progress of our channel investments and a record library performance despite a challenging industry environment," said Lionsgate Co-Chairman and Chief Executive Officer Jon Feltheimer. "We are well positioned to continue the positive trend toward topline revenue growth, strong EBITDA and a return to positive free cash flow as we continue to build the longterm value of our business."

Overall motion picture revenue for fiscal year 2010 of $1.12 billion decreased 9% from $1.23 billion in the prior year. Within the motion picture segment, theatrical revenue was $139.4 million, a decrease of 38% compared to the prior year, because the Company's smaller slate of 10 releases (nine wide releases), including PRECIOUS, winner of two Academy Awards(R), DAYBREAKERS, I CAN DO BAD ALL BY MYSELF, SAW VI and FROM PARIS WITH LOVE, among others, compared to 16 releases (14 wide releases), including MADEA GOES TO JAIL, MY BLOODY VALENTINE 3-D, THE HAUNTING IN CONNECTICUT and SAW V, among others, in the prior year.

Lionsgate's home entertainment revenue from both motion pictures and television was $608.2 million in fiscal 2010, a 10% decline from the prior year as theatrical titles such as PRECIOUS, SAW VI, I CAN DO BAD ALL BY MYSELF and THE HAUNTING IN CONNECTICUT, among others, had lower underlying box office than the prior year's slate, which included titles such as SAW V, THE FAMILY THAT PREYS and THE FORBIDDEN KINGDOM, among others.

Television included in motion pictures revenue (primarily pay television) rose to $186.7 million in fiscal year 2010, an increase of 10% from the prior year with a slate of MADEA GOES TO JAIL, THE HAUNTING IN CONNECTICUT and MY BLOODY VALENTINE 3-D, among others, comparing favorably to a slate of 3:10 TO YUMA, THE FORBIDDEN KINGDOM and MEET THE BROWNS, among others, in the prior year.

International motion picture revenue of $73.4 million (excluding Lionsgate U.K.) in fiscal year 2010 declined 10% from the prior year. The slate of BROTHERS, MY BLOODY VALENTINE 3-D, SAW V and SAW VI compared to SAW V, SAW IV, THE EYE, MY BEST FRIEND'S GIRL and PUNISHER: WAR ZONE in the prior year.

Lionsgate U.K. revenue of $74.3 million in fiscal year 2010 increased 22% from the prior year as the slate of the third party film THE HURT LOCKER, winner of the Best Picture and Best Director Academy Awards(R) and distributed by Lionsgate in the U.K. and Maple Pictures in Canada, DRAG ME TO HELL, MY BLOODY VALENTINE 3-D, SAW VI and HARRY BROWN compared favorably to the prior year's slate of SAW IV, SAW V, THE BANK JOB and RIGHTEOUS KILL.

Mandate Pictures' revenue of $99.1 million for fiscal year 2010 increased 118% from the prior year on the films JUNO, DRAG ME TO HELL, HORSEMEN, PASSENGERS and WHIP IT compared to the films 30 DAYS OF NIGHT, HAROLD & KUMAR 2, JUNO, NICK AND NORAH'S INFINITE PLAYLIST and PASSENGERS in the prior year.

Lionsgate's television business reported record revenue of $350.9 million in fiscal year 2010, up 58% from the prior year, and recorded strong gains in all segments. Revenue from television domestic series licensing was $240.0 million in the fiscal year, a gain of 48% from the prior year.

This reflected a 63% increase in revenues for Lionsgate Television deliveries of programming such as 13 episodes of the Emmy Award-winning drama "Mad Men Season 3" (AMC), 13 episodes of the comedy "Weeds Season 5" (Showtime), 13 episodes of the drama "Crash Season 2" (Starz) and 24 episodes of the dark comedy "Nurse Jackie Seasons 1 and 2" (Showtime), among others, along with a 56% increase in revenue from Debmar-Mercury licensing of such shows as "Tyler Perry's House of Payne," its spinoff "Meet The Browns," "The Wendy Williams Show" and "Family Feud."

International television segment revenue of $42.3 million in fiscal year 2010 increased 70% from the prior year reflecting sales of "Mad Men Season 3," "Crash Season 1," the drama "Dead Zone Season 1" and the horror anthology "Fear Itself."

Home entertainment revenue from television production was $67.8 million in the fiscal year, a 94% increase from the prior year driven primarily by sales of "Weeds Seasons 4 & 5" and "Mad Men Seasons 2 & 3."

The strong performance of Lionsgate's television business also helped catalyze a record performance by the Company's 12,000-title filmed entertainment library, which generated $323 million in revenue in fiscal year 2010, a 16% increase from the prior year.

Lionsgate's general and administrative (G&A) expenses in fiscal year 2010 were $117.6 million in the Company's core business (excluding stock-based compensation expense and TV Guide Network), a decline of 4% from the prior year. G&A as a percentage of revenue in the Company's core business declined from 8.4% to 8.0% in fiscal year 2010 (excluding stock-based compensation expense and TV Guide Network).

Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal year 2010 full year and fourth quarter financial results at 9:00 A.M. ET/6:00 A.M. PT on Wednesday, June 2, 2010. Interested parties may participate live in the conference call by calling 1-800-230-1074 (612-288-0329 outside the U.S. and Canada). A full digital replay will be available from Wednesday morning, June 2, through Wednesday, June 9, by dialing 1-800-475-6701 (320-365-3844 outside the U.S. and Canada) and using access code 158614.

About Lionsgate

Lionsgate (NYSE:LGF) is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel assets. Lionsgate currently has 15 shows on more than 10 networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men", "Weeds" and "Nurse Jackie" along with new series such as "Blue Mountain State" and "Running Wilde" and the syndication successes "Tyler Perry's House Of Payne", its spinoff "Meet The Browns" and "The Wendy Williams Show".

Its feature film business has generated such recent hits as TYLER PERRY'S WHY DID I GET MARRIED TOO, KICK ASS, which opened at #1 at the North American box office and the critically-acclaimed PRECIOUS, which garnered nearly $50 million at the North American box office and won two Academy Awards(R). The Company's home entertainment business has grown to more than 7% market share and is an industry leader in box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.

www.lionsgate.com

For further information, please contact:

Peter D. Wilkes
310-255-3726
pwilkes@lionsgate.com

The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including the substantial investment of capital required to produce and market films and television series, increased costs for producing and marketing feature films, budget overruns, limitations imposed by our credit facilities, unpredictability of the commercial success of our motion pictures and television programming, the cost of defending our intellectual property, difficulties in integrating acquired businesses, technological changes and other trends affecting the entertainment industry, and the risk factors as set forth in Lionsgate's Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on June 1, 2010, which risk factors are incorporated herein by reference. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.

LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED BALANCE SHEETS

March 31, March 31,
2010 2009
---- ----

(Amounts in
thousands,
except share amounts)
ASSETS
Cash and cash equivalents $91,421 $138,475
Restricted cash 4,123 10,056
Restricted investments 6,995 6,987
Accounts receivable, net of reserve for
returns and allowances of 312,123 227,010
$87,978 (March 31, 2009 -$98,947) and provision for doubtful
accounts of $8,712 (March 31, 2009 - $9,847)
Investment in films and television
programs, net 680,647 702,767
Property and equipment, net 33,577 42,415
Finite-lived intangible assets, net 71,530 78,904
Goodwill 391,853 379,402
Other assets 112,188 81,234
------- ------
Total assets $1,704,457 $1,667,250
========== ==========

LIABILITIES
Senior revolving credit facility $17,000 $255,000
Senior secured second-priority notes 225,155 -
Accounts payable and accrued liabilities 270,120 270,561
Participations and residuals 302,677 371,857
Film obligations and production loans 369,545 304,525
Subordinated notes and other financing
obligations 203,208 281,521
Mandatorily redeemable preferred stock
units held by noncontrolling interest 94,580 -
Deferred revenue 138,272 142,093
------- -------
Total liabilities 1,620,557 1,625,557
--------- ---------

Commitments and contingencies

Lions Gate Entertainment Corp. shareholders' equity:
Common shares, no par value, 500,000,000
shares authorized, 521,164 494,724
117,951,754 and 116,950,512 shares issued at March
31, 2010
and 2009, respectively
Accumulated deficit (460,631) (441,153)
Accumulated other comprehensive loss (6,611) (11,878)
------ -------
Total Lions Gate Entertainment Corp.
shareholders' equity 53,922 41,693
Noncontrolling interest 29,978 -
------ ---
Total equity 83,900 41,693
------ ------
Total liabilities and equity $1,704,457 $1,667,250
========== ==========

LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Year Year
Ended Ended Ended
March 31, March 31, March 31,
2010 2009 2008
---- ---- ----

(Amounts in thousands, except per
share amounts)

Revenues $1,583,718 $1,466,374 $1,361,039
Expenses:
Direct
operating 807,311 793,816 660,924
Distribution
and marketing 515,755 669,557 635,666
General and
administration 180,543 136,563 119,080
Depreciation
and
amortization 28,064 7,657 5,500
------ ----- -----
Total expenses 1,531,673 1,607,593 1,421,170
--------- --------- ---------
Operating
income (loss) 52,045 (141,219) (60,131)
------ -------- -------
Other expenses
(income):
Interest
expense
Contractual
cash based
interest 28,271 15,131 12,851
Amortization of
debt discount,
deferred
financing
costs
and accretion
of redeemable
preferred
stock units 29,789 19,144 17,048
Total interest
expense 58,060 34,275 29,899
Interest and
other income (1,573) (5,785) (11,276)
Gain on sale of
equity
securities - - (2,909)
Gain on
extinguishment
of debt (5,675) (3,023) -
------ ------ ---
Total other
expenses, net 50,812 25,467 15,714
------ ------ ------
Income (loss)
before equity
interests and
income taxes 1,233 (166,686) (75,845)
Equity
interests loss (28,149) (9,044) (7,559)
------- ------ ------
Loss before
income taxes (26,916) (175,730) (83,404)
Income tax
provision 1,230 2,724 4,031
----- ----- -----
Net loss (28,146) (178,454) (87,435)
Add: Net loss
attributable
to
noncontrolling
interest 8,668 - -
----- --- ---
Net loss
attributable
to
Lions Gate
Entertainment
Corp.
Shareholders $(19,478) $(178,454) $(87,435)
======== ========= ========

Basic Net Loss
Per Common
Share $(0.17) $(1.53) $(0.74)
====== ====== ======
Diluted Net
Loss Per
Common Share $(0.17) $(1.53) $(0.74)
====== ====== ======
Weighted average number of
common shares outstanding:
Basic 117,510 116,795 118,427
Diluted 117,510 116,795 118,427

LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year Year Year
Ended Ended Ended
March 31, March 31, March 31,
2010 2009 2008
---- ---- ----
(Amounts in thousands)
Operating Activities:
Net loss attributable to
Lions Gate
Entertainment Corp.
shareholders $(19,478) $(178,454) $(87,435)
Net loss attributable to
noncontrolling interest (8,668) - -
------ --- ---
Net loss (28,146) (178,454) (87,435)
Adjustments to reconcile
net loss to
net cash provided by
(used in) operating
activities:
Depreciation of property
and equipment 15,295 5,925 3,974
Amortization of
intangible assets 12,769 1,732 1,526
Amortization of films
and television programs 540,963 458,757 403,319
Amortization of debt
discount, deferred
financing costs
and accretion of
redeemable preferred
stock units 29,789 19,144 17,048
Non-cash stock-based
compensation 18,299 13,438 13,934
Gain on sale of equity
securities - - (2,909)
Gain on extinguishment
of debt (5,675) (3,023) -
Equity interests loss 28,149 9,044 7,559
Changes in operating
assets and liabilities:
Restricted cash (187) 244 (228)
Accounts receivable, net (80,565) 37,304 (128,876)
Investment in films and
television programs (519,625) (558,277) (445,714)
Other assets (9,691) (7,363) (2,985)
Accounts payable and
accrued liabilities (18,620) 30,323 66,704
Participations and
residuals (69,574) (12,781) 209,806
Film obligations (31,010) 59,376 1,387
Deferred revenue (3,946) 22,705 32,040
------ ------ ------
Net Cash Flows Provided
By (Used In) Operating
Activities (121,775) (101,906) 89,150
-------- -------- ------
Investing Activities:
Purchases of restricted
investments (13,994) (13,989) (229,262)
Proceeds from the sale
of restricted
investments 13,985 14,000 466,641
Purchases of investments
-equity securities - - (4,836)
Proceeds from the sale
of investments -equity
securities - - 24,155
Acquisition of TV Guide,
net of unrestricted
cash acquired - (243,158) -
Acquisition of Mandate
Pictures, net of
unrestricted cash
acquired - - (41,205)
Acquisition of Maple
Pictures, net of
unrestricted cash
acquired - - 1,753
Investment in equity
method investees (47,129) (18,031) (6,460)
Increase in loans
receivable (1,418) (28,767) (5,895)
Repayment of loans
receivable 8,333 - -
Purchases of property
and equipment (6,577) (8,674) (3,608)
Net Cash Flows Provided
By (Used In) Investing
Activities (46,800) (298,619) 201,283
------- -------- -------
Financing Activities:
Exercise of stock
options - 2,894 1,251
Tax withholding
requirements on equity
awards (2,030) (3,734) (5,319)
Repurchase and
cancellation of common
shares - (44,968) (22,260)
Proceeds from the
issuance of mandatorily
redeemable preferred
stock 122,355 - -
units and common stock
units related to the
sale of 49% interest in
TV
Guide Network
Borrowings under senior
revolving credit
facility 302,000 255,000 -
Repayments of borrowings
under senior revolving
credit facility (540,000) - -
Borrowings under
individual production
loans 144,741 189,858 162,400
Repayment of individual
production loans (136,261) (222,034) (111,357)
Production loan
borrowings under
Pennsylvania Regional
Center credit facility 63,133 - -
Production loan
borrowings under film
credit facility, net of
deferred financing
costs 30,469 - -
Production loan
repayments under film
credit facility (2,718) - -
Proceeds from sale of
senior secured second-
priority notes, net of
deferred financing
costs 214,727 - -
Repurchase of
subordinated notes (75,185) -
Borrowings under other
financing obligations - - 3,718
Repayment of other
financing obligations (826) (5,377) -
Net Cash Flows Provided
By Financing Activities 120,405 171,639 28,433
------- ------- ------
Net Change In Cash And
Cash Equivalents (48,170) (228,886) 318,866
Foreign Exchange Effects
on Cash 1,116 (4,228) 1,226
Cash and Cash
Equivalents -Beginning
Of Period 138,475 371,589 51,497
------- ------- ------
Cash and Cash
Equivalents -End Of
Period $91,421 $138,475 $371,589
======= ======== ========

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF NET LOSS TO EBITDA, AS DEFINED AND EBITDA, AS
ADJUSTED

Year Year Year
Ended Ended Ended
March March
31, March 31, 31,
2010 2009 2008
---- ---- ----
(Amounts in thousands)

Net loss $(28,146) $(178,454) $(87,435)
Depreciation and amortization 28,064 7,657 5,500
Contractual cash paid Interest
expense 28,271 15,131 12,851
Noncash interest expense 29,789 19,144 17,048
Interest and other income (1,573) (5,785) (11,276)
Income tax provision 1,230 2,724 4,031
Equity interests loss 28,149 9,044 7,559
Gain on sale of equity
securities - - (2,909)
Gain on extinguishment of debt (5,675) (3,023) -
------ ------ ---
EBITDA $80,109 $(133,562) $(54,631)
======= ========= ========
Stock-based compensation 19,247 9,720 12,081
EBITDA attributable to
noncontrolling interest (8,682) - -
Corporate defense charges 5,668 950 -
Non-risk prints and
advertising expense 32,126 - -
------ --- ---
EBITDA, as adjusted $128,468 $(122,892) $(42,550)
======== ========= ========

EBITDA is defined as earnings before interest, income tax provision, depreciation and amortization, equity interests, and gains or losses on extinguishment of debt and the sale of equity securities. EBITDA as defined, is a non-GAAP financial measure.

EBITDA as adjusted represents EBITDA as defined above adjusted for stock-based compensation, EBITDA attributable to noncontrolling interest, certain corporate defense charges, and non-risk prints and advertising expense. Stock-based compensation represents compensation expenses associated with stock options, restricted share units and stock appreciation rights. Corporate defense charges represent legal and other professional fees associated with a shareholder activist matter. Non-risk prints and advertising expense represents the amount of theatrical marketing expense for third party titles that the Company funded and expensed for which a third party provides a guarantee that such expense will be recouped from the performance of the film (i.e. there is no risk of loss to the company) net of an amount of the estimated amortization of participation expense that would have been recorded if such amount had not been expensed.

Management believes EBITDA as defined, and EBITDA as adjusted to be a meaningful indicator of our performance that provides useful information to investors regarding our financial condition and results of operations. Presentation of EBITDA as defined, and EBITDA as adjusted, is a non-GAAP financial measure commonly used in the entertainment industry and by financial analysts and others who follow the industry to measure operating performance. While management considers EBITDA as defined, and EBITDA as adjusted, to be an important measure of comparative operating performance, it should be considered in addition to, but not as a substitute for, net income and other measures of financial performance reported in accordance with Generally Accepted Accounting Principles. EBITDA as defined, and EBITDA as adjusted, do not reflect cash available to fund cash requirements. Not all companies calculate EBITDA as defined or EBITDA as adjusted, in the same manner and the measure as presented may not be comparable to similarly-titled measures presented by other companies.

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF FREE CASH FLOW, AS DEFINED
TO NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES

Year Year Year
Ended Ended Ended
March
March 31, March 31, 31,
2010 2009 2008
---- ---- ----

(Amounts in thousands)

Net Cash Flows Provided
By (Used In) Operating
Activities $(121,775) $(101,906) $89,150
Purchases of
property and
equipment (6,577) (8,674) (3,608)
Net borrowings under
and (repayment) of
production loans 36,231 (32,176) 51,043
------ ------- ------
Free Cash Flow, as
defined $(92,121) $(142,756) $136,585
======== ========= ========

Free cash flow is defined as net cash flows provided by (used in) operating activities, less purchases of property and equipment and plus or minus the net increase or decrease in production loans. The adjustment for the production loans is made because the GAAP based cash flows from operations reflects a non-cash reduction of cash flows for the cost of films associated with production loans prior to the time the Company actually pays for the film. The Company believes that it is more meaningful to reflect the impact of the payment for these films in its free cash flow when the payments are actually made.

Free cash flow is a non-GAAP financial measure as defined in Regulation G promulgated by the Securities and Exchange Commission. This non-GAAP financial measure is in addition to, not a substitute for, or superior to, measures of financial performance prepared in accordance with Generally Accepted Accounting Principles.

Management believes this non-GAAP measure provides useful information to investors regarding cash that our operating businesses generate whether classified as operating or financing activity (related to the production of our films) within our GAAP based statement of cash flows, before taking into account cash movements that are non-operational. Free cash flow is a non-GAAP financial measure commonly used in the entertainment industry and by financial analysts and others who follow the industry. Not all companies calculate free cash flow in the same manner and the measure as presented may not be comparable to similarly titled measures presented by other companies.

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF EBITDA, AS DEFINED
TO FREE CASH FLOW, AS DEFINED

Year
Ended
March 31,
2010
----
(Amounts in
thousands)

EBITDA $80,109

Plus: Amortization of film and television
programs 540,963
Less: Cash paid for film and television programs
(1) (514,404)
--------
Amortization in excess of cash paid for film and
television programs 26,559

Plus: Non-cash stock-based compensation 18,299
------

EBITDA adjusted for net investment in film and television
programs
and non-cash stock-based compensation 124,967

Changes in other operating assets and
liabilities:
Restricted cash (187)
Accounts receivable, net (80,565)
Other assets (9,691)
Accounts payable and accrued liabilities (18,620)
Participations and residuals (69,574)
Deferred revenue (3,946)
------
(182,583)

Purchases of property and equipment (6,577)
Interest, taxes and other (2) (27,928)

Free Cash Flow, as defined $(92,121)
========

(1) Cash paid for film and television programs is calculated
using the following amounts
as presented in our consolidated statement of
cash flows:

Change in investment in film and television
programs (519,625)
Change in film obligations (31,010)
Borrowings under individual production loans 144,741
Repayment of individual production loans (136,261)
Production loan borrowings under film credit
facility, net of deferred financing costs 30,469
Production loan repayments under film credit
facility (2,718)
------
Total cash paid for film and television programs (514,404)
========

(2) Interest, taxes and other consists of the
following:

Contractual cash based interest (28,271)
Interest and other income 1,573
Income tax provision (1,230)
------
Total interest, taxes and other (27,928)
=======

This reconciliation is provided to illustrate the difference between our EBITDA, as defined and free cash flow, as defined, which are both separately reconciled to their corresponding GAAP metrics.

Source: Lionsgate

CONTACT: Peter D. Wilkes, +1-310-255-3726, pwilkes@lionsgate.com

Web Site: http://www.lionsgate.com/

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