American Entertainment & Animation Corp. Announces Agreement to Acquire Exclusive Rights to Produce Feature Film/Documentary of Sanders Portrait of William Shakespeare.

Business Editors, Entertainment Writers

THORNHILL, Ontario, Canada--(BUSINESS WIRE)--Dec. 3, 2002

American Entertainment & Animation Corporation (Pink Sheets:AEAN) has signed an agreement with Lloyd Sullivan and with Tempest Art Works Ltd. to develop a motion picture and television production based on the reputed life-time portrait of William Shakespeare.

The Ottawa Citizen reported Sunday, November 17, 2002, "Since news of the portrait made international headlines last year, the painting has become a favorite preoccupation for the world's top experts on Shakespeare, art history and Elizabethan culture. Many have dedicated their own time and money to study the painting."

Tempest has granted AEAN the exclusive right for the preparation, production, exhibition, distribution, advertising and exploitation of a feature length motion picture, documentary, television production or mini series and ancillary merchandise based in whole or in part on the portrait and the life of its owner Lloyd Sullivan.

The Sanders portrait of Shakespeare, which passed through generations of the Sanders family, was recently the subject of an international conference at the University of Toronto attracting some 180 scholars and interested observers from Canada, United States, Britain and Israel.

"I haven't seen such public interest and discussion around Shakespeare for a very long time," said Jane Freeman, a University of Toronto professor who teaches a Shakespeare class for seniors. Another University of Toronto Professor, Mr. Leggatt, informed the conference attendees, "Part of the seductive power of the Sanders Portrait is that this is Shakespeare as we would like him to be: young, vital, sexy and romantic," he told the audience. "It's a portrait that seems to capture Shakespeare's wit."

Lloyd Sullivan was quoted as saying "This agreement is part of my ongoing desire to reveal the true image of Shakespeare to the world, and I look forward to working with AEAN."

President and CEO of AEAN, Marc Hazout, stated, "This is an important venture for the expanding horizons of AEAN. This very exciting agreement will be of great interest to those Shakespeare admirers wanting to know what Shakespeare really looked like at the age of 39 at the peak of his writing career."

It is expected that the development of the feature film and the documentary will garner world interest as described in a recent Globe and Mail article "World meets to debate Bard portrait." AEAN will work closely with Lloyd Sullivan to bring to light that this is a very important painting and that this portrait of Shakespeare over time will be adopted by the global community making this a very important property for AEAN to be associated with and to use as a building block to develop a global franchise.

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