CenterStaging Corp. Announces $3,000,000 Securities Purchase Transaction.

BURBANK, Calif. -- CenterStaging Corp. (CNSC.ob) - CenterStaging Corp. announced today that on January 16, 2007, the Company closed on a $3,000,000 private placement of its securities with two institutional investors. The transaction consists of a 10% Convertible Debenture due December 31, 2008 in the principal amount of $3,000,000 along with warrants to purchase 3,000,000 shares of the Company's common stock for $1.10 per share. The specifics of the transaction are available in the Company's 8-K filed on January 22, 2007. HPC Capital Management acted as the exclusive placement agent on this transaction.

Howard Livingston, Chief Financial Officer of CenterStaging, commented, "This infusion of capital will allow the Company to continue to aggressively implement its business plan, including the expansion and multi-platform distribution of our content library, which includes such notables as our `Lessons from the Legends' series." Livingston continued, "We are extremely appreciative of the efforts of HPC Capital in facilitating this transaction."

About CenterStaging Corp.

CenterStaging Corp. (OTCBB:CNSC) is a public company based in Burbank, CA with an office in Bensalem, PA and is the parent company of CenterStaging Musical Productions, Inc. and its division rehearsals.com. The Company provides rehearsal and production services for all facets of the entertainment industry. The 150,000 square foot facility features 11 rehearsal studios, one sound stage, a high-definition broadcast center, thousands of musical instruments and backline equipment in Burbank, CA. The facility houses rehearsals.com which is envisioned as a gateway into the professional artist's workshop, and provides streaming video as well as digital audio programming, exclusive performances, candid artist interviews and intimate lessons from the masters. The teaming of CenterStaging and rehearsals.com mounts a powerful vertically integrated entertainment model that not only develops and produces content, but will deliver compelling programming to an online audience.

Forward-Looking Statements 

All statements made in this press release other than statements of historical fact, including statements that address operating performance, events or developments that management expects or anticipates will or may occur in the future, including statements related to distributor channels, volume growth, revenues, profitability, new products, adequacy of funds from operations, statements expressing general optimism about future operating results and non-historical information, are forward-looking statements. In particular, the words "believe," "expect," "intend," "anticipate," "estimate," "may," "will," variations of such words, and similar expressions, identify forward-looking statements, but are not the exclusive means of identifying such statements, and their absence does not mean that the statement is not forward-looking. These forward-looking statements are subject to certain risks and uncertainties, including those discussed below. The Company's actual results, performance or achievements could differ materially from historical results as well as those expressed in, anticipated or implied by these forward-looking statements.