EuropaCorp

Earnings Release • Feb 15, 2010

Accumulated revenue at 9 months: €94.1 million

• Business during the 3rd quarter is equivalent to that in the 1st half year of the financial year, due to the film release schedule
• An increase in annual revenue is expected, despite performances which are lower than anticipated

Paris, 15 February 2010 – EuropaCorp (FR0010490920), film producer and distributor and one of the leading European independent film studios, announces today its unaudited consolidated revenue for the third quarter and the first 9 months of its financial year.

Revenue*	Q3	Q3	9 months	9 months
(€ millions)	2009/10	2008/09	2009/10	2008/09	Δ
International sales	6.7	26.2	23.0	30.9	-25.5%
% of Revenue	14.3%	53.6%	24.5%	31.6%
Cinema, France	13.8	5.5	16.3	8.1	100.9%
% of Revenue	29.3%	11.2%	17.3%	8.3%
Video, France	6.1	5.6	17.4	12.2	43.0%
% of Revenue	13.0%	11.5%	18.5%	12.5%
Television, France	10.0	7.6	19.2	34.6	-44.5%
% of Revenue	21.2%	15.5%	20.4%	35.3%
Subsidies	3.1	1.7	5.4	2.6	107.3%
% of Revenue	6.6%	3.5%	5.7%	2.7%
Others	7.4	2.3	12.8	9.4	36.1%
% of Revenue	15.6%	4.7%	13.6%	9.6%
EuropaCorp Group	47.0	48.9	94.1	97.9	-3.8%

Consolidated unaudited figures

*The financial year ends on 31 March each year

Third quarter activity has generated a consolidated revenue of €47 million, which is at a level equivalent to the revenue produced during the first half year of the current financial year, due to the films releases during the quarter. Revenue under the heading of "Cinema, France" totals €13.8 million for the period (releases of Fashion Victim, The Concert, In the Beginning, and Arthur and the Revenge of Maltazard), although box office figures are lower than expected.

The France Television sales, totalling €10 million, are based on the opening of 4 major broadcast windows including Taxi 4 and Go Fast, as well as the sales from the Roissy Films catalogue.

International sales (€6.7 million), corresponding in particular to the first deliveries of Arthur and the Revenge of Maltazard, continue to be affected by the liquidity crisis impacting foreign distributors. Nevertheless, international sales will be particularly high for the fourth quarter taking into account all the new films due for release.

"Other activities" (€7.4 million) is mainly based on licenses and partnerships.

The French video sales figures amount to €6.1 million due to the good performance of Ong Bak 2 and of the catalogue.

Detailed evolution in the quarterly revenue figures

	2009/10			2008/09
Revenue (€ millions)	Q1	Q2	Q3	Q1	Q2	Q3
International sales	3.1	13.2	6.7	2.0	2.8	26.2
Cinema, France	1.5	1.0	13.8	1.5	1.1	5.5
Video, France	6.2	5.1	6.1	1.7	4.9	5.6
Television, France	6.0	3.3	10.0	18.2	8.8	7.6
Subsidies	1.1	1.2	3.1	0.3	0.6	1.7
Others	2.4	3.0	7.4	3.3	3.7	2.3
EuropaCorp Group	20.4	26.7	47.0	27.0	21.9	48.9

Line-up for the 4th quarter

The last quarter of the financial year 2009/2010, which will be the most significant in revenue, will feature the release of films with high potential in France and abroad, including From Paris with Love, directed by Pierre Morel starring John Travolta and Jonathan Rhys-Meyers, I Love You Phillip Morris, directed by John Requa and Glenn Ficcara starring Jim Carrey and Ewan McGregor, Paris Express directed by Hervé Renoh starring Michaël Youn and Géraldine Nakache and 22 Bullets directed by Richard Berry starring Jean Reno and Kad Merad.

Financial calendar *

• 27 May 2010: Revenue for the second half year 2009/2010
• 23 June 2010: Consolidated annual results 2009/2010

* Press releases are published at the close of markets, subject to change

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