Cedric Kushner Promotions Announces Results of its 2004 Annual Meeting and Change in its Trading Symbol.

NEW YORK -- Cedric Kushner Promotions, Inc. ("CKP" or the "Company") (PK:CKPI - news), a diversified sports and entertainment firm, has announced results of its Annual Meeting of Shareholders held on December 6, 2004.

At the meeting, the Company's shareholders approved all of the proposals presented at the meeting, which included the following matters:

1. Cedric Kushner and James DiLorenzo were re-elected as members
       to the board of directors;

    2. The amendment to the certificate of incorporation to delete any
       reference to the Company's business purpose as relating to
       golfing equipment or apparel;

    3. The amendment to the certificate of incorporation to reclassify
       the Company's Class A and Class B Common Stock as a single
       class of common stock, par value $.01 per share;

    4. The amendment to the certificate of incorporation to increase
       the Company's authorized Common Stock to 100,000,000 shares;

    5. The amendment to the certificate of incorporation and by-laws
       to replace the Company's classified Board of Directors;

    6. The amendment to the certificate of incorporation and by-laws
       to permit the Company's stockholders to take action by Written
       Consent in Lieu of a Meeting;

    7. The adoption of the Company's 2002 Stock Option Plan; and

    8. The ratification of Wolinetz, Lafazan & Company P.C., as the
       Company's independent auditors for the fiscal year ending
       December 31, 2004.

In connection with the amendment to the certificate of incorporation to reclassify the Company's Class A and Class B Common Stock as a single class of common stock, CKP was issued a new trading symbol, "CKPI", effective as of December 16, 2004.

About Cedric Kushner Promotions, Inc.

CKP promotes world class professional boxers. In addition to its promotional activities, CKP produces and syndicates boxing programming for distribution worldwide. A steady program supplier to the world's leading television networks, the company promotes events televised worldwide.

About Ckrush Entertainment, Inc.

Ckrush Entertainment, Inc. was formed in 2004 by Cedric Kushner Promotions, Inc. with a focus on filmed and television entertainment. Ckrush is currently developing a number of projects in the film and television category. Ckrush is a wholly owned subsidiary of Cedric Kushner Promotions, Inc. (PK:CKPI).

Forward Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events or results may differ materially from those forward-looking statements as a result of various important factors, including those described in the Company's most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.