TinselVision(TM) Closes Series A Financing

TinselVision(TM) Closes Series A Financing

GENEVA and WASHINGTON, June 25 /PRNewswire/ -- TinselVision(TM) (TV), a Tinsel Cinema broadband Internet, video-on-demand (VoD) service targeting South Asian communities in the US, UK and Canada, today announced it has secured $3.0 million in Series A financing led by Innovative Entertainment Limited (IEL). TinselVision also reveals this week it has signed a three-year deal with a major Indian television network to offer their premium content via Tinsel's online platform. These funding and licensing agreements provide strong capital market and industry validation of Tinsel's on-demand platform and will accelerate the company's launch, slated for this Summer, 2007.

"We are very excited to lead the Series A investment in TinselVision (TV)," says Shahid Kahn, President of IEL. "TV is an early and differentiated mover in this segment. With a battle-tested management team and seasoned financial talents, this investment is poised to be one of the big winners in the shifting contests for South Asian viewing audiences globally. We plan to be there with the growth capital required to make it happen."

In conjunction with Series A funding, Tinsel has assembled world-class boards of directors and advisors which include a who's who in television, film, distribution, finance and production. The company will announce final appointments to these boards in June.

"When you combine deep pockets with broad experience and relationships in the right place at the right time, you have good reason to be excited," offers Chase Weir, Chairman and CEO of Tinsel Cinema. "We have a $1 billion plus, un-served and underserved, addressable market. Now, we have premium content licenses in place. And, we have and continue to attract the talent who's been here and done this before. This confluence of resources and timing offers our stakeholders a growing confidence which underpins our excitement, and good reasons for positive expectations in the marketplace."

Tinsel Cinema will launch services as TinselVision(TM) -- delivering premium Bollywood and South Asian television, film, sports and lifestyle content -- Everywhere, All the Time(TM). As South Asian immigrant and expatriate consumers demand more and more entertainment choice, quality, affordability and control, TinselVision(TM) will be there providing superior alternatives to home video rentals and cable and satellite programming. Customers will watch what they want to watch, when they want to watch it, wherever they are. Unlike linear, 24/7 programming, TinselVision(TM) provides its viewers with more bang for their entertainment dollar - and, for the same premium content delivered to all of the screens of life.

ABOUT TINSELVISION

TinselVision(TM), a trademarked service of Tinsel Cinema, LLC, is a Washington, DC and Mumbai, India, based VoD provider scheduled to launch its niche service in the Summer 2007 delivering Bollywood and South Asian movies, TV series and sporting events via the Internet to PCs, laptops, TVs and mobile devices to the South Asian community in the US, UK and Canada. The service seeks to provide over 8 million customers with choice, affordability, control and convenience through on-demand access to one of the largest libraries of South Asian content while offering new sources of revenue to content copyright owners.

ABOUT INNOVATIVE ENTERTAINMENT LIMITED

Innovative Entertainment Limited (IEL) is a wholly-owned subsidiary of Innovate Energy Group (IEG), with combined annual revenues of approximately US$3 billion. The principals and co-founders of IEL, Muhammad Rafique and Shahid Khan, also the Chairman and CEO of IEG respectively and members of the board of directors of Tinsel Cinema, are ambitiously expanding their global markets vision and proven financial skills in distribution, electronics, infrastructure and alternative energy to broadcast media and entertainment. IEL has been established initially to provide the early-stage financing and later-stage growth capital TinselVision(TM) requires to become the market leader in broadband entertainment services to South Asian communities around the world. These initial investments in Tinsel Cinema's global on-demand and social networking service models will build the TinselVision(TM), Veodi(TM), and ChannelMine(TM) brands. Stay tuned for subsequent announcements on IEL's expanding focus in global entertainment.

First Call Analyst:
FCMN Contact:

Source: TinselVision

CONTACT: Chase Weir, +1-202-544-8845, chase@tinselcinema.com, or Qin Li
+1-703-732-1369, qin@tinselcinema.com, both of Tinsel Cinema; or Shahid Khan,
+ 971 4 368 9449, shahid@innovative-energy.com of Innovative Entertainment
Limited

Web site:

http://www.tinselcinema.com/

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