Ckrush Entertainment, Inc. Closes on Joint Venture with Identity Films.

NEW YORK -- Ckrush Entertainment, Inc. ("Ckrush Entertainment"), a wholly owned subsidiary of Cedric Kushner Promotions, Inc. ("CKP" or the "Company") (PK: CKPI - news), announced today that it has entered into a joint venture with Identity Films, LLC ("Identity"). Pursuant to the joint venture, the Company and Identity formed "Identity Films & Company, LLC" for the purpose of, among other things, developing, financing, and producing feature films. Ckrush Entertainment is obligated to contribute overhead financing to the joint venture and it is anticipated that Identity will contribute approximately twelve film properties in various stages of development. The joint venture arrangement between the parties was subject to certain conditions which have been met, including, but not limited to, (i) Ckrush Entertainment's completion of due diligence, (ii) the preparation and execution of a long form definitive agreement, and (iii) Ckrush Entertainment providing initial overhead financing to the joint venture. The production and development of the film, television and ancillary properties will require additional financing, which the parties will seek prior to producing and developing such properties. Identity Films & Company will be based in Los Angeles. Lisa Fielding and Anthony Mastromauro, of Identity Films, will be responsible for the day-to-day management of the joint venture. Jeremy Dallow and Jim DiLorenzo of Ckrush Entertainment will serve as officers of the joint venture along with Fielding and Mastromauro.

"We believe that the joint venture and the formation of Identity Films & Company is a real milestone for Ckrush Entertainment, Inc. We feel that this joint venture gives Ckrush Entertainment the opportunity to participate in a number of quality film projects alongside Lisa Fielding and Anthony Mastromauro. It is our position that the slate of properties currently in development and production are outstanding. We further feel that the joint venture is positioned to execute on these properties and can result in the growth of Identity Films & Company in the film business." said Jim DiLorenzo, President of Ckrush Entertainment.

"We are thrilled beyond our expectations to be in business with Ckrush. We have the opportunity to not only work with people we respect but to truly grow our company into a presence in the film business. We're coming into this joint venture knowing that producing award -winning films will be the first item on our agenda. Fortune has smiled on Identity Films." Said Lisa Fielding of Identity Films, LLC.

About Ckrush Entertainment, Inc.

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

About Cedric Kushner Promotions, Inc.

Cedric Kushner Promotions, Inc. ("CKPI") promotes world-class professional boxers. In addition to its promotional activities, CKPI 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.

Forward Looking Statements

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