EuropaCorp

Earnings Release • May 14, 2009

REVENUE 2008/2009: €128.6 million

As previously announced, consolidated revenue is down on the previous financial year with 10 films released in French cinemas, as compared with 12 in 2007/2008. This has been partly compensated by a good performance in cinema, international sales and TV sales

• International sales and French box-office results are increasing thanks to a lineup with a higher potential
• Television and catalogue-related revenue is increasing
• Video sales is seeing the effect of the previous financial year's line-up
• There are no one-off projects for this financial year (2007/2008 included line production of Hitman for an international studio)

Paris, 14 May 2009 – EUROPACORP (FR0010490920), a producer and distributor of feature films and one of Europe's very first independent film studios, today announces its consolidated annual revenue for the financial year as well as its unaudited revenue figures for the last quarter of its financial year, which closed on 31 March 2009.

Revenue*	Q4	Q4	12 months	12 months	Δ 12 months
(€ Millions )	2008/09	2007/08	2008/09	2007/08	%
International sales	10.1	26.3	41.0	37.0	10.8%
% of Revenue			31.9%	25.2%
Cinemas, France	4.7	5.1	12.8	9.0	42.2%
% of Revenue			10.0%	6.1%
Video, France	2.9	3.7	15.2	28.2	-46.1%
% of Revenue			11.8%	19.2%
Television, France	7.9	14.5	42.5	34.2	24.3%
% of Revenue			33.1%	23.3%
Subsidies	1.4	1.6	4.0	5.5	-27;3%
% of Revenue			3.1%	3.7%
Other activities	3.6	5.9	13.0	33.0	-60.6%
% of Revenue			10.1%	22.4%
EuropaCorp Group	30.6	57.0	128.5	147.0	-12.6%

Unaudited – consolidated revenue

*Clôture de l'exercice au 31 mars

The Group's revenue for the last quarter is 30.7 million euros. It includes amongst other categories:

• International Sales revenues of 10.1 million euros mainly made up of the remaining international sales of Transporter 3, Go Fast and those from District 13 – Ultimatum, which was released in France during the quarter. No revenue figures associated with the American success of Taken have been included in this quarter. For the last quarter of 2007/2008, Taken accounted for the majority of the 26.3 million euros revenue.

• French television sales at 7.9 million euros include, amongst others, three major first run broadcasts on Canal + and three secondary run broadcasts on TF1.
• Sales from Cinema in France are at 4.7 million euros, with releases of District 13 Ultimatum (1,106,000 admissions) and Special Correspondents (555,000 admissions).
• Video-generated revenue of 2.9 million euros is mainly made up of from the commercial sales from the EuropaCorp and Roissy Films catalogues.
• "Other activities" revenue, which half of it is due to the partnership strategy.

	2008/09				2007/08
Revenue (€ Millions)	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
International sales	2.0	2.8	26.2	10.1	1.8	5.4	3.5	26.3
Cinemas, France	1.5	1.1	5.5	4.7	0.6	1.0	2.3	5.1
Video, France	1.7	4.9	5.6	2.9	5.0	18.4	1.1	3.7
Television, France	18.2	8.8	7.6	7.9	7.5	7.3	5.0	14.5
Subsidies	0.3	0.6	1.7	1.4	0.9	2.7	0.4	1.6
Other activities	3.3	3.7	2.3	3.6	18.7	4.3	4.2	5.9
EuropaCorp Group	27.0	22.0	49.0	30.6	34.5	39.1	16.4	57.0

Evolution in revenue by quarter

2008/2009: Consolidated revenue has decreased in comparison with the previous financial year with 10 films released in French cinemas as against 12 in 2007/2008, but the majority of strategic activities are increasing: Cinema, international sales and TV sales

• The distribution activity in French cinemas is increasing by more than 40% compared with the previous financial year reflecting the Group's successful films during the financial year;
• DVD and VoD sales are down, considering the previous financial year's exceptional line-up;
• International sales have increased by 11% which confirms EuropaCorp's know-how in relation to the conception and production of films which meet the expectations of worldwide audiences;
• Television sales have, for their part, increased by 24%, which is a sign of the dynamism of the EuropaCorp productions in this market and the strength of its business relationships with the major television groups.
• The "other activities" heading does not include any one-off projects for this financial year, in particular related to the line production by EuropaCorp. Indeed, the line production of the film Hitman was included under the heading of "other activities" for the previous financial year.

2008/2009 annual income

EuropaCorp will publish its annual income on 18 June 2009 after the close of markets.

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 co-produced over 60 feature-length films. For further information: www.europacorp-corporate.com