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To: RULiquid who wrote (114791)	5/15/2003 1:52:23 PM
From: Jim Bishop	Read Replies (3) \| Respond to of 150070

ROMN Film Roman Announces Net Profit Thursday May 15, 1:37 pm ET NORTH HOLLYWOOD, Calif.--(BUSINESS WIRE)--May 15, 2003--Film Roman, Inc. (OTCBB:ROMN - News), a leading independent animation company best known for its primetime hits "THE SIMPSONS" and "KING OF THE HILL," today reports net income attributable to common stock for the first quarter of 2003 was $338,450 or $0.04 per share compared to a net loss attributable to common stock of ($816,267) or ($0.10) per share for the first quarter of 2002. Total revenue decreased by 26% or $4.1 million, to $11.7 million for the quarter ended March 31, 2003 from $15.8 million for the quarter ended March 31, 2002. Total revenue decreased because the Company delivered fewer fee-for-services episodes. "We are extremely pleased that Film Roman has generated its first net profit since 1995. In both overhead and production a combination of economy and efficiency has made the company profitable," stated John Hyde, President and Chief Executive Officer. "Further helping our financial position, as outlined in an 8K filed today, a Memo Of Understanding was signed this week with IDT Corporation. When completed, the deal gives Film Roman far more financial security and IDT's Digital Production Solutions subsidiary a major equity position in the company. By combining Film Roman's creative skills with the incredible technological abilities of DPS we are positioning both companies to be major forces in both 2D and CGI animation." About Film Roman For almost two decades, Film Roman has been a leading animation production company working on such primetime hits as "THE SIMPSONS" and "KING OF THE HILL," as well as the current top-rated Saturday morning series "X-MEN: EVOLUTION." The Company's proprietary 3D animated series, "TRIPPING THE RIFT," will be making its debut on the SCI-FI Channel in mid 2003. Since its founding eighteen years ago by acclaimed animator Phil Roman, the Company has delivered successful animated children's series to broadcasters worldwide, picking up eighteen Emmy Awards along the way. Among those shows are such well-loved animated classics as "GARFIELD AND FRIENDS," "BOBBY'S WORLD" and "FELIX THE CAT," among many others. Film Roman Commercials continues to break new ground with its innovative concepts and rich history in advertising while the Company continues to diversify its core animation business with its enterprising CGI and visual effects division, Forum Visual Effects. Film Roman maintains its web presence, LEVEL13.NET, as an area to develop new properties for its television and film business. Many of its proprietary films have won awards at prestigious film festivals, and its numerous alliances, including strategic partnerships with DIRECTV and Image Entertainment, have increased Film Roman's global reputation as a leading provider of quality animation. "This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based largely on Film Roman's current expectations and are subject to a number of risks and uncertainties including, but not limited to, risks that programming may not be sold, and if sold, may not be successful, risks that the conditions required for closing the IDT transaction may not be met, and other risks described in Film Roman Inc.'s Annual Report on Form 10K for the year ended December 31, 2002 and other SEC reports and filings. The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events, or otherwise." -------------------------------------------------------------------------------- Contact: Film Roman, Inc. Stacey Smart/Daryl Barbieri, 818/761-2544