Devine Entertainment Reports Year End Financial Statements: 2004 a Dramatic Turnaround Year.

TORONTO -- All figures throughout this release should have been specified as being in Canadian dollars (sted U.S. dollars)

The corrected release reads:

DEVINE ENTERTAINMENT REPORTS YEAR END FINANCIAL STATEMENTS: 2004 A DRAMATIC TURNAROUND YEAR

NOTE: All figures in this release are stated in Canadian dollars.

Devine Entertainment Corporation (CUB:DVNN, NASD OTC PK:DVNNF) today reported results for the year ended December 31, 2004. 2004 was marked by dramatic and positive change for the Company. The Company's turnaround efforts met with success in a number of business areas. The Company completed the production of its first feature film, Bailey's Billion$, which is scheduled for theatrical release in the U.S. and Canada on August 5, 2005. The Company's proprietary film library continued to perform well with renewed broadcast sales in France and healthy DVD and video revenues in the United States. The Company also concluded various settlements of its debt that resulted in significant improvement of the Company's balance sheet and renewed positive shareholders' equity. In addition, the Company completed three successful financings in April, June and December of 2004, the net cash proceeds of which totalled $1,087,800.

Overall, 2004 saw Devine Entertainment Corporation return to profitability and positive shareholders' equity. Net income totalled $4,298,917 or $0.22 per share as compared to a loss of $851,146 or ($0.06) per share in 2003. Net income from operations, excluding write-down of investment in film, television programs and recordings and gain on settlement of debt, totalled $953,448 or $0.05 per share as compared with a loss of $501,534 or ($0.03) per share in 2003. Shareholders' equity increased by $6,700,061 in 2004 from a deficiency of $2,236,222 as at December 31, 2003 to positive shareholders' equity of $4,463,739 as at December 31, 2004.

The Company's revenues increased more than fivefold to $3,809,235 in 2004, from $721,241 in 2003. Of the Company's total revenues, $3,160,280 were derived from sales of distribution rights and equity in the Company's feature film Bailey's Billion$ when the film was delivered and available for commercial exploitation. These sales in 2004 include sales of distribution rights in Canada, Greece, Hungary, Indonesia, Latin America, Mexico, the Middle East, Poland, Romania, Russia and Turkey and sales of equity in the film to Telefilm Canada, Corus Entertainment (The Corus Entertainment Production Initiative) and Astral Media (Astral Media The Harold Greenberg Fund). Revenues from the sales from the Company's film library totalled $648,955 in 2004 as compared to $697,251 in 2003, reflecting a year over year decrease of 7%. Revenues from the film library included a new sale of broadcast rights in France to specialty broadcaster TPS Jeunesse for $287,000, which the Company hopes will play a part in renewing the film library's international sales and prospective co-production financing for a new series of complementary films based on the lives and work of landmark authors, entitled, The Writers' Specials. North American DVD and video sales provided the balance of revenue from the Film Library.

President and CEO David Devine noted "the Company is now moving forward with a significantly improved balance sheet and the opportunity to attract new capital resources for our ongoing business objectives. We will continue to focus on new production and the marketing and distribution of our proprietary film library to drive revenue growth."

The Company has made significant progress in turning around its business in 2004 and the Company expects this trend to continue. While many business risks remain and the success of these strategies cannot be guaranteed, management expects that the successful completion of all or some of these strategic objectives will assist with the continued renewal of the Company's growth and profitability in 2005 and into the future.

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 worldwide. Their film series on landmark Composers', Inventors' and Artists' are critically acclaimed and broadcast in over 50 countries. The Company recently completed its first feature film for theatrical release, Bailey's Billion$, which is slated for worldwide distribution in 2005. Headquartered in Toronto, the Company's common shares trade under the symbol DVNN on the Canadian Unlisted Board (CUB) and on 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 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.