Lightworks Producing Group Announces Growth Strategy

Lightworks Producing Group Announces Growth Strategy

Signs Agreements with KPI Executives and Bank Leumi

NEW YORK, June 24 /PRNewswire/ -- Lightworks Producing Group (LPG) announces the renewal of employment agreements with the three top executives of its KPI unit, Vincent Kralyevich, Bill Hunt and Kristy Sabat. Kralyevich, the founder of KPI, is EVP/ Chief Creative Officer; Hunt is SVP, Development; and Sabat is SVP, Production. KPI's Emmy(R) award winning team of writers, producers and editors has created more than 80 hours of programming for History, Discovery Channel, National Geographic Channel, Animal Planet, Smithsonian Networks, HGTV and others since joining LPG just over two years ago.

LPG has also entered into a production funding agreement with Bank Leumi USA. This financing will supplement existing production funding for LPG as it continues to expand its slate of projects. This transaction was led on behalf of LPG by Jeffrey C. Weber, President and CEO of LPG, Waverly Damato, VP Finance, LPG and Harry Vasavada, SVP, Finance of Lightworks Enterprises, Inc., LPG's parent company. Bank Leumi USA was represented by Melanie Krinsky, First Vice President and Manager, Entertainment Banking Group who stated, "We are extremely pleased to be entering into this relationship with Lightworks Producing Group. We look forward to working with LPG/ KPI as they grow and become more prosperous in the years ahead."

David Dreilinger, President & CEO of Lightworks Enterprises, Inc., stated, "These two extremely important actions -- renewing deals with our talented production executives and securing funding from one of the leaders in entertainment and production finance, guarantees that LPG is securely poised for growth and expansion during these complex economic times."

Jeffrey C. Weber, President and CEO of LPG, added, "We are fortunate to have the best in the industry with Vinnie, Bill and Kristy and they lead an outstanding team. We are also pleased to be working with Bank Leumi and appreciate that they recognize the solid financial oversight that characterizes LPG and the potential for continued growth at our company."

About Lightworks Enterprises:

Lightworks Enterprises, Inc. is an integrated television, film and new media production company. Its operating companies include Lightworks Producing Group which, with its Emmy(R) award winning unit KPI, produces programs for such broadcasters as History, the BBC, Discovery Channel, Hallmark Channel and many others; and Lightworks Pictures, which develops and produces motion pictures for television and theatrical distribution. For more information, please visit www.lightworksenterprises.com and www.lightworksgroup.com.

About Bank Leumi, USA:

Bank Leumi USA, operating in the U.S. for more than fifty years, is an FDIC-insured, full-service commercial bank that provides financial services to middle- to upper-middle market firms, and international businesses through offices in New York, Illinois, California, Florida, and an offshore office in the Cayman Islands. The Entertainment Banking Group is strategically located in Beverly Hills, offering creative solutions for financing businesses involved in servicing the entertainment community including agencies, commercial and post production, television and film production and distribution.

Source: Lightworks Producing Group

CONTACT: Jeffrey C. Weber, +1-212-485-8526, jweber@lightworksgroup.com

Web Site: http://www.lightworksgroup.com/
http://www.lightworksenterprises.com/

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