(PR NEWSWIRE) Royal Pictures Kicks Off Slate Of Motion Pictures Backed By
Royal Pictures Kicks Off Slate Of Motion Pictures Backed By $24 Million In
Financing As Featured In 'Variety' Magazine
NORTH MIAMI BEACH, Fla., Feb. 2 /PRNewswire/ -- Royal Pictures, Inc.
(OTC Bulletin Board: RPIX) following the overwhelming success of their
introductory cocktail party to South Florida's entertainment industry,
President David Olinsky said "the level of interest and visibility of the
Company has ignited."
In attendance were many major entertainment personalities, including
talent already working with Royal on upcoming films, such as Marty Cintron of
the pop group "No Mercy," who will star in the Royal production "Neon Dreams."
The party was the perfect catalyst to usher in 1999, a year in which the
Company is projected to move into the forefront of the independent film world,
as reported in the following article from the November 16th issue of
"Variety" Magazine, written by Andrew Paxman:
Miami: In the boldest move yet by an indie outfit based in South Florida,
Royal Pictures has unveiled a slate of four pictures backed by financing of
$24 million.
With Robert Brent and L.A.-based producer Arlyne Rothberg as executive
producers, Royal intends to shoot all four pics using local cast and crew.
In tandem with Royal CEO David Olinsky, Brent has spent the last three
years raising coin from private investors in South Florida -- who are
notoriously showbiz-shy, preferring real estate-and optioning rights to
properties.
Priciest of the pics is the $10 million "Mens Lives," set in the Hamptons
on Long Island and slated for a fall 1999 shoot. Royal is in final talks with
Alec Baldwin to star and co-produce, while Billy Joel has confirmed interest
in composing the score.
First before the cameras will be the $4.5 million "Calle Ocho," to be
simultaneously shot in English and Spanish for a dual theatrical release.
Named for the main drag in Miami's Little Havana, "Ocho" tells of a Cuban
musician torn between love and ambition.
Following a deal with No Mercy frontman Marty Cintron, the $5 million
"Neon Dreams" will also start shooting early next year from a Debra Greenspan
script, and the band will compose the soundtrack.
Fourth pic is "Stray Kids." From a Sundance Institute-honored script by
Robert Clem about an estranged elderly couple living in the South, its
budgeted at $7 million.
"South Florida is the right place. It's a right-to-work state, the unions
are flexible, there are the water views and the quality of the light. The
only thing we lack is California believing we have the crews," Brent says.
Rothberg ("Crimes of the Heart") is Royal's L.A. liaison, and may produce one
or more of its pictures.
Royal Pictures, Inc. is both a multi-dimensional and a multi-faceted
independent film production Company, that plans to develop and produce motion
pictures for the big screen. All three stages of motion picture production
will be performed or arranged by Royal Pictures, including funding,
production, and distribution of the completed film. For more information
please visit the Company's website at royalpictures.net.
Statements about the Company's future expectations, including future
revenues and earnings, and all other statements in this press release other
than historical facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such forward-looking
statements be subject to the safe harbors created thereby. Since these
statements involve risks and uncertainties and are subject to change at any
time, the Company's actual results could differ materially from expected
results.
SOURCE Royal Pictures, Inc.
-0- 02/02/99
/CONTACT: David Olinsky, President, Royal Pictures, Inc., 305-893-4440/
/Web site: royalpictures.net
(RPIX)
CO: Royal Pictures, Inc.
ST: Florida
IN: ENT
SU:
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