HARVEY COMICS ENTERTAINMENT INC.
SANTA BARBARA, Calif., Sept. 13 /PRNewswire/ -- The following is a summary of a presentation made by Santa Monica-based Harvey Comics Entertainment Inc. today at the Cruttenden Santa Barbara Growth Stock Conference. Harvey Comics Entertainment Inc. (NASDAQ: HRVY) completed its initial public offering through Cruttenden & Co. on June 18, 1993, and was priced at $7.50. Harvey's key assets are the trademarks and copyrights to well known characters including "Casper, The Friendly Ghost(R)," "Richie Rich(R)," "Baby Huey(R)," "Wendy, The Good Little Witch(R)," "Hot Stuff(R)" and other classic characters which have been created over the last 50 years. In addition to owning a library of comic book film, from which 1,875 comic books can be produced, Harvey also owns and licenses for television syndication, 248 fully animated color cartoon shorts produced by Paramount Pictures. The Harvey characters are widely recognized; in a recent study "Casper, The Friendly Ghost(R)" had a familiarity level of 91 percent among the general population and 98.7 percent among mothers of children two to 11 years old. Harvey operates three divisions; filmed entertainment, merchandising and publishing. In filmed entertainment, the company licensed to Warner Bros. the right to use "Richie Rich(R)," in a live-action movie to be produced by Joel Silver ("Die Hard" and "Lethal Weapon") which is expected to be released in Summer 1994. Universal Pictures, in association with Amblin Entertainment, is expected to begin production of a motion picture featuring "Casper, The Friendly Ghost(R)" to be produced by Steven Spielberg and directed by Spielberg's protege, Alex Proyas, an award- winning commercial director (Nike, Coca-Cola, American Express), and is expected to be released during the 1994 holiday season. The impending movie releases have prompted Harvey to resume merchandising of its characters. In addition to the strategic alliance between MCA/Universal and Harvey whereby MCA made a $3 million equity investment in the company, now amounting to an 11.5 percent ownership interest, MCA Inc. also acts as the exclusive merchandising agent to third parties for consumer products and promotions. Harvey's future filmed entertainment plans include producing new cartoon episodes for network television, which will further enhance the character's visibility and merchandising potential and increase comic book sales. The publishing division is being expanded by creating new comic books and improving distribution. In addition to the newly created action-adventure comics line under the Nemesis Comics imprint, Harvey recently entered into an agreement with Turner Publishing Inc. though which Harvey will publish 120 new comic books over the next three years. The comic books will be based on the Flintstones, Scooby Doo, the Jetsons, Yogi Bear and many more. Harvey's young, aggressive management team possesses entrepreneurial drive, strong financial and management skills and years of industry experience. Harvey, with its roster of family oriented entertainment, is positioned to benefit as the expansion of media outlets and proliferation of new technologies increases the values being afforded to proprietary characters. -0- 9/13/93 /CONTACT: Wendy Webb, director, investor relations, Harvey Comics Entertainment, 310-451-3377/ (HRVY)
CO: Harvey Comics Entertainment Inc.; Universal Pictures;
Amblin Entertainment; Nemesis Comics ST: California IN: ENT PUB SU:
LM-EH -- LA004 -- 1210 09/13/93 10:31 EDT