Imperia Entertainment Heads Into Final Week of Post Production of 'Say it in Russian;' Announces Results of May 7th Meeting and Updates Bond Funding

Imperia Entertainment Heads Into Final Week of Post Production of 'Say it in Russian;' Announces Results of May 7th Meeting and Updates Bond Funding

BEVERLY HILLS, Calif., May 9 /PRNewswire-FirstCall/ -- Imperia Entertainment, Inc. (Pink Sheets: IPEI) announced today the results of its May 7th shareholder meeting, as the company goes into the final week of post production of its feature film, "Say it in Russian." "A two for one forward stock split was proposed by the board at a May 7th special meeting of shareholders, in order to enhance trading liquidity and broaden share ownership. Since the meeting was announced the stock price has fallen to the extent that a forward split is not believed to be in the best interests of the company and its shareholders at this time, and the majority shareholders declined to approve it," said Kenneth Eade, company Chairman.

The company has finished the final mix of three of its four reels of the feature film, "Say it in Russian" with a Dolby print master set for May 14th, and a final print by May 16th or 17th at the latest. "With the final print, all post production on the film will come to a close and the film will be shipped to Cannes for its premiere screening for distributors and buyers on May 20th," said Eade. "The company will then be free to focus more of its efforts on 'Never Submit,'" he added.

The company's $10 million bond funding with Nexxus One Capital Trust of Switzerland is scheduled to finally close by the end of this week. "It will take us up to several weeks to monetize the bond after closing, so we intend to continue with production of the feature film, 'Never Submit' in the interim period," said Eade.

ABOUT "SAY IT IN RUSSIAN"

"Say it in Russian," ( www.sayitinrussianmovie.com ) starring Faye Dunaway, Rade Sherbedgia (Snatch), Steven Brand (The Scorpion King), Agata Gotova, and Steven Berkoff (Beverly Hills Cop), is directed by Jeff Celentano (Gunshy) and edited by award winning editor William Anderson (The Truman Show). The film follows the story of an American man who falls in love with a young Russian girl and follows her to Russia, where he gets involved in a hurricane of events surrounding her father, a rich Russian oligarch. The film will be presented for screening for the first time on May 20th and 25th at the Cannes Film Market by the world renowned public relations firm, Rogers and Cowan.

ABOUT "NEVER SUBMIT"

"Never Submit" ( www.neversubmit.com ) is a movie set in the world of MMA, or mixed martial arts. The performances will be a mix of nationally recognized actors and fighters.

"Never Submit" is an inspirational tale similar to "Rocky," but the lead character is an intelligent young man (as are most fighters competing in this sport) rather than a beaten-down punch-drunk fighter. An amazing cast of characters will round out this film; each from different walks of life; each with his own set of circumstances and motivating factors driving him to his or her personal best. "Never Submit" is a metaphor describing the way these athletes live their lives.

Imperia Entertainment recently announced a partnership with TapouT Magazine ( http://www.tapoutmagazine.com/ ) as part of a cross-country tour to promote the publication as well as the movie.

ABOUT IMPERIA ENTERTAINMENT

Imperia Entertainment, Inc. ( www.imperiaentertainment.com ) is a company that has emerged as a player in the area of independent film production and distribution, once monopolized by the major film studios. In conjunction with its distribution subsidiary, Imperia International Distribution, the company engages in investing in and producing and distributing full-length feature films. Along with its equity interest in "All That I Need" ( www.allthatineed.net ), released in theaters last year, and now being marketed for DVD distribution, Imperia's film properties include its feature film, "Say It In Russian" ( www.sayitinrussianmovie.com ), starring Faye Dunaway, and "Never Submit," starring star MMA fighters Ken Shamrock, Josh Koscheck, Michael McDonald, Mauricio Shogun Rua, and Nate Quarry , and the award-winning "Autograph" television series ( www.autograph.tv ), which airs on the OlympuSAT system.

This press release contains statements, which may constitute "forward- looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Imperia Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Imperia Entertainment, Inc.

Kenneth Eade: 310-275-0089 or
imperiaentertainmentinc@yahoo.com

Source: Imperia Entertainment, Inc.

CONTACT: Kenneth Eade of Imperia Entertainment, Inc., +1-310-275-0089,
imperiaentertainmentinc@yahoo.com

Web site:

http://www.imperiaentertainment.com/
http://www.sayitinrussianmovie.com/
http://www.neversubmit.com/

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