Ckrush Entertainment, Inc. Signs Letter of Intent with Identity Films.

NEW YORK -- Ckrush Entertainment, Inc. ("CKP" or the "Company") (PK: CKPI - news) announced today that it has entered into a letter of intent with Identity Films, LLC ("Identity"). The letter of intent calls for the Company to form a joint venture with Identity to, among other things, develop, finance, and produce feature films. The Company anticipates contributing overhead financing to the joint venture and Identity anticipates contributing approximately twelve film properties in various stages of development. Completion of the joint venture arrangement between the parties is subject to certain conditions, including, but not limited to, (i) the Company's completion of due diligence within seventy-five days after the date of the letter of intent, (ii) the preparation and execution of a long form definitive agreement, and (iii) the Company providing financing over the first two years of the joint venture. In addition, 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, based in Los Angeles, is lead by Lisa Fielding and Anthony Mastromauro. Identity and the Company have previously announced their intention to produce the film "Beer League" together.

"This is a major step forward for the Company in the film business. Lisa and Anthony have built up an amazing slate of quality projects and we look forward to building a great company with them. They are working with some of Hollywood's most talented and accomplished writers, directors, and actors on their projects, which is a credit to both their choice of material and their consummate professionalism. We feel Identity, lead by Anthony and Lisa, can become a premier label in the film business," said Jim DiLorenzo, the Executive Vice President of the Company.

"We are excited about our partnership with the Company on many levels. This joint venture is about two companies supporting each other's goals from a creative and financial point of view, while exploring new opportunities that can help us grow individually as well as collectively. As producers, we have identified, acquired, and developed a slate of creative and commercially driven films, and we believe this partnership will allow us the flexibility and resources to support our properties while always looking forward into the future," said Anthony Mastromauro, a Principal of Identity.

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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