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Activity Update - Lucid Entertainment Inc. and Lucid Subsidiary Companies; Lucid Entertainment Inc. LUC : TSX-V.

TORONTO, April 5 /PRNewswire-FirstCall/ -- Lucid Entertainment Inc. announces that its subsidiary, Lucid Manchester Ltd. is closed due to a non- renewal of its liquor serving license and it is currently in default with lenders, creditors, and loan guarantors. Certain Virgin Group companies are guarantors of obligations under the lease for the Manchester Property and other financing arrangements and as security have a pledge against all of the stock of the Company's subsidiary, Lucid Manchester Limited. The Company is currently in discussions with representatives of Virgin regarding these defaults. Due to the conflicts arising from these events, Simon Wright, Chief Executive, Virgin Entertainment Group International has resigned as a director of the Company. The Company is in negotiations with certain creditors and guarantors to determine the future of the subsidiary.

Lucid Entertainment Inc. and some of its other subsidiaries are in default under other material contracts. The Company is currently in negotiations with certain landlords, lenders, creditors and investors to obtain waivers and additional financing. In general these discussions have been favourable, but no agreements have been finalized at this time.

Wayne Fraser, Group Chief Accountant, resigned from the Company as of March 17, 2005. Alan Moore, President and Interim Chief Executive Officer and Sander Shalinsky, Director and Acting Board Chairman, are presently leading the Company on a day-to-day basis.

For further information, please contact Lisa Ruscica, VP Corporate Finance or Alan Moore, CEO and President.
 Per: Alan Moore,
 CEO and President

Lucid Entertainment Inc. is a leading operator and developer of branded entertainment and hospitality venues internationally.

This news release may contain forward-looking statements, which are not historical facts, but are based on certain assumptions and reflect LEI's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. LEI disclaims any intention or obligation to update or revise and forward-looking statements, whether as a result of new information, future events or otherwise. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

TSX Venture Exchange has not reviewed and does not accept responsibility

for the adequacy or accuracy of this release.

CONTACT: Corporate information is available by request to Ms. Tita Gonzalez at Tel. (905) 470-7117, Fax (905) 470-0900, or on the Internet at or by mail to: Lucid Entertainment Inc., 100 Allstate Parkway, Suite 600, Markham, Ontario, L3R 6H3, Canada
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Publication:PR Newswire
Date:Apr 5, 2005
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