Devine Entertainment Completes First Limited Partnership Financing for $846,350.

TORONTO -- Devine Entertainment Corporation (CUB:DVNN, NASD OTC PK:DVNNF) today announced that the Company has completed a successful financing with The Devine Entertainment Limited Partnership. Under the terms of this financing the Company has received cash of $351,800 and a note receivable from Family Entertainment Financial Inc. of $494,550 due in 2014 with interest of 6.5% paid annually.

Under the terms of a previously announced services agreement, the Partnership will provide management services in connection with the conduct of business of the Company, including labour, employment and direct expenses, marketing services and expenses, certain project development expenses, administrative services and certain operating expenses until December 31, 2004. In return, the Partnership is entitled to a royalty of 0.8% of the Company's gross revenues, during each year for the calendar years 2004 to 2014. The Partnership was also granted the right and option to exchange its royalty interest into 380,450 common shares and 494,550 preferred shares, Series 1 of the Company at any time before the end of 2004.

President and CEO David Devine noted, "This financing is very positive for the Company because it contributes significantly to our cash flow while also being accretive to the Company's shareholder equity if the Partnership exercises its option to exchange its interest into equity." Management is contemplating another similar financing that could total $5 million over the next three to five years.

The Company also announced board approval for a new one-year agreement with Shareholder Development Group, LLC of Atlanta, Georgia for investor relations services, in return for US$4,000 and 40,000 restricted common shares of the Company.

Five-time Emmy Award-winning Devine Entertainment Corporation develops, produces and distributes children's and family entertainment for the theatrical motion picture, television and Video/DVD marketplace world-wide. Their film series on landmark Composers', Inventors' and Artists' are critically acclaimed and broadcast in over 50 countries. The Company's first feature film for theatrical release, Bailey's Billion$, is slated for release in 2005. Headquartered in Toronto, the Company's common shares trade under symbol DVNN on the Canadian Unlisted Board (CUB), and the NASD OTC PK market in the U.S.under the symbol DVNNF. The Company's corporate website is www.devine-ent.com.

This press release may contain forward-looking statements relating to the future performance of Devine Entertainment Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the Company's limited operating history and fluctuations in revenues; market acceptance of the Company's products and services; competition within the film and entertainment industry and the introduction of new entrants and/or products in the Company's markets; adverse changes in governmental regulations and policies affecting the film and entertainment industry; product development risks and risks of technological change; the risk of unanticipated expenses; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities in accordance with applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on information available to it on the date such forward-looking statements are made, no assurances can be given as to future results, levels of activity and achievements. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.