Planned Acquisitions Drive Camelot Authorization Increase

Planned Acquisitions Drive Camelot Authorization Increase

Potential Deal Terms, Stock Price Dictate Action

ALISO VIEJO, Calif., Dec. 22 /PRNewswire-FirstCall/ -- Camelot Entertainment Group, Inc. (OTC Bulletin Board: CMLT; "Camelot") announced today that its decision to increase the amount of authorized shares to an eventual 3,000,000,000 was driven in part by anticipated terms and conditions of the company's planned acquisitions. In addition, the current stock price was a major factor as the company continues to negotiate the transactions. The company had originally planned to limit the increase to 850,000,000 shares.

While the company does not expect to see its common stock issuance come close to approaching the revised authorized, it wanted to make sure it had enough authorized shares to complete the acquisitions and meet current and future contractual obligations.

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.

Source: Camelot Entertainment Group, Inc.

CONTACT: Investor Relations of Camelot Entertainment Group, Inc., +1-
949-334-2950

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

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