Camelot Entertainment Group Accelerates Acquisition Activity

Camelot Entertainment Group Accelerates Acquisition Activity

Negotiations Underway for First Two Acquisitions

ALISO VIEJO, Calif., Sept. 29 /PRNewswire-FirstCall/ -- Camelot Entertainment Group, Inc. (BULLETIN BOARD: CMLT) ("Camelot") announced today that it has commenced negotiations to acquire two distribution companies, one which specializes in domestic distribution and one which specializes in foreign distribution. Camelot expects to have letters of intent in place for both acquisitions early in the fourth quarter. These are the first in a series of acquisitions Camelot intends to pursue as the company continues to implement its business model.

The planned acquisitions are part of Camelot's shift in its operating focus to production and distribution activities through its Camelot Film Group division. With the operating focus now shifting to the film group, Camelot is ramping up its production and distribution operations during the fourth quarter of 2008.

About Camelot Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a US publicly traded company (symbol "CMLT") with three major divisions: Camelot Film Group, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. Creating a world where filmmaking dreams come true, Camelot integrates early studio models, education, new technologies and fiscal responsibility to acquire, develop, finance, produce, market and distribute high quality commercial motion pictures, television and digital media. For general information about Camelot Entertainment Group, Inc., please visit the Company's web site at www.camelotfilms.com.

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission Reports and Filings.

Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

CONTACT:
Camelot Entertainment Group Investor Relations:
Investors@camelotfilms.com
(949) 334-2950

Source: Camelot Entertainment Group, Inc.

CONTACT: Camelot Entertainment Group Investor Relations,
+1-949-334-2950, investors@camelotfilms.com

Web Site: http://www.camelotfilms.com/

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