EuropaCorp

Earnings Release • Aug 13, 2009

REVENUE 1st QUARTER 2009/2010: €20.4 million

• Down by 24% partly due to the schedule of TV broadcast windows, less favourable as compared with 1st quarter 2008/2009
• Significant discrepancy expected between income for the 1st and 2nd half-year due to the film release schedule concentrated on the 2nd financial half-year

Paris, 13 August 2009 – EUROPACORP (FR0010490920), producer and distributor of feature films and one of Europe's leading independent film studios, today announces its unaudited consolidated revenue to 30 June 2009, i.e. for the first quarter of its 2009/2010 financial year.

Revenue (€ Millions )	Q1 2009/2010	Q1 2008/2009	Δ
International sales	3.1	2.0
% of Revenue	15.2%	7.4%	55.0%
Cinemas, France	1.5	1.5
% of Revenue	7.4%	5.6%	0.0%
Video, France	6.2	1.7
% of Revenue	30.4%	6.3%	264.7%
Television, France	6.0	18.2
% of Revenue	29.4%	67.4%	-67.0%
Subsidies	1.1	0.3
% of Revenue	5.4%	1.1%	266.7%
Others	2.4	3.3
% of Revenue	11.8%	12.2%	-27.3%
EuropaCorp Group	20.4	26.9	-24.3%

Consolidated revenue – unaudited

The Group's revenue for the first quarter totalled 20.4 million Euros, compared with 26.9 million Euros in the first quarter of the previous financial year, which, amongst others included €18.2 million of revenue from French television sales associated with the opening of seven major broadcast windows.

The first quarter revenue figures for 2009/2010 are essentially made up of:

• French Video sales of €6.2 million helped by the good performance of Transporter 3 and Go Fast;
• French Television revenue of €6.0 million with amongst other things, the broadcast window opening for Taken on Canal +;
• International sales of €3.1 million, as there are no films with high potential in the international market for the quarter;
• The 'Others' heading of €2.4 million mainly consists of income from partnership agreements.

The Group would like to remind one that its revenue is tied to the release schedule of its films in their various forms, a schedule that can result in significant variations in revenue per segment of activity from one quarter or one half to the next. Revenue recorded over a quarter or half therefore has little bearing on annual revenue.

Regarding the film release schedule for the second quarter which closes on 30 September 2009, the Group expects that the revenue for the half-year will be reduced, notably due to the small number of films released during this period.

Despite this 1st half-year, the Group's revenue outlook for the whole financial year 2009/2010 is up, mainly due to several films with high potential due to be released in France and abroad during the second half-year.

Financial calendar

11 September 2009:	Annual General Meeting
12 November 2009:	Revenue for the 1st half 2009/2010
30 November 2009:	Income for the 1st half 2009/2010

About EuropaCorp

The EuropaCorp group produces and distributes films for the French and international markets. Structured around the "vertically integrated studio" concept, its strategy aims to control each stage of the production-distribution cycle of its ambitious and varied films. Since the start of its activity in 1999, EuropaCorp has produced or coproduced over 60 feature-length films.

For further information: www.europacorp-corporate.com

Contacts

EuropaCorp NewCap Séverine Madinier - Investor relations Axelle Vuillermet investors@europacorp.com avuillermet@newcap.fr Tel: +33 1 53 83 03 03 Tel: +33 1 44 71 94 94

EuropaCorp is listed on Euronext Paris - Compartment C by NYSE Euronext ISIN: FR0010490920 - Mnemonic: ECP