EuropaCorp

Earnings Release • Nov 12, 2009

Revenue for the first half of financial year 2009/2010: 47.1 million euros

• As announced, a first half-year of reduced activity with no major film releases during the period
• Increase in Video and International Sales, but few openings of significant TV broadcast windows
• Taking into account the films due to be released during second half-year, revenue is expected to be up for the financial year 2009/10

Paris, 12 November 2009 – EUROPACORP (FR0010490920), a producer and distributor of feature films and one of Europe's leading independent film studios, today announces its consolidated revenue for the first half of its financial year up to 30 September 2009.

Revenue (€ millions)	Q1 2009/10	Q1 2008/09	Q2 2009/10	Q2 2008/09	HY1 2009/10	HY1 2008/09	∆
International sales	3.1	18.2	13.2	2.8	16.3	4.7	244%
% of Revenue					34,6%	9,7%
Cinemas, France	1.5	2.0	1.0	1.1	2.5	2.6	-3%
% of Revenue					5,3%	5,3%
Video, France	6.2	1.5	5.1	4.9	11.3	6.6	71%
% of Revenue					24,0%	13,5%
Television, France	6.0	1.7	3.3	8.8	9.2	27.0	-66%
% of Revenue					19,6%	55,3%
Subsidies	1.1	0.3	1.2	0.6	2.3	0.9	156%
% of Revenue					4,9%	1,8%
Others	2.4	3.3	3.0	3.7	5.4	7.0	-23%
% of Revenue					11,5%	14,4%
EuropaCorp Group	20.4	27.0	26.7	22.0	47.1	48.9	-4%

• Consolidated revenue – unaudited

EuropaCorp has a revenue of €26.7m for the second quarter 2009/10, a +21.4% increase compared with the second quarter 2008/09.

In particular, the heading of International Sales includes a first payment of royalties related to the success of Taken in the United States. French video sales figures are due to the good performance of District 13-Ultimatum and of Transporter 3.

The Group's revenue for the first half-year thus comes to €47.1m, a slight decrease from the revenue of €48.9m generated during the same period of the last financial year, which benefited from a particularly favourable television sales schedule.

• Future perspectives

Considering the reduction in TV revenue in comparison with the 1st half-year 2008/2009, and the less favourable film release schedule (a concentration of films with a low profit margin), the operating margin for the half-year will see a significant reduction. The half-year results are nonetheless not an indication of the revenue and profitability level for the financial year 2009/10 as a whole.

For the second half-year, with the planned release of several films with high potential on the international market, EuropaCorp expects increased activity for the period, and, as a result, anticipates annual revenue figures to be significantly higher than the previous year.

• Financial calendar

• 30 November 2009: Half-year results 2009/10

ABOUT EUROPACORP

EuropaCorp is one of the largest film studios in Europe. Founded in 1999, its original integrated financial model generates revenues from diversified sources. EuropaCorp varied activities include production, theater distribution, home entertainment, VOD, sales of TV rights for France as well as sales of international rights, partnerships and licenses, music production and publishing, books publishing and advertising production. With films from a wide range of genres and a strong presence in the international market, the Group has produced some of French latest worldwide record-breaking successes. EuropaCorp's catalogue is comprised of 500 films and the company employs 120 permanent staff members. More information on 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 93

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