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MITSUBISHI PURCHASES EQUITY INTEREST IN IMAGE ENTERTAINMENT

 MITSUBISHI PURCHASES EQUITY INTEREST IN IMAGE ENTERTAINMENT
 TOKYO, Feb. 27 /PRNewswire/ -- Lee H. Kasper, Image's Executive Vice President announced today that Mitsubishi Corporation and Mitsubishi Plastics Industries Limited have agreed to purchase 380,952 shares of Image Entertainment (NASDAQ-NMS: DISK) common stock at $10.50 per share, in a transaction valued at $4 million.
 In connection with the stock purchase, Image has entered into a nonexclusive laserdisc manufacturing agreement with Mitsubishi Corporation whereby Mitsubishi will become a significant manufacturing source for Image. The terms of the manufacturing agreement were not disclosed.
 Commenting on the agreement, Kasper said, "We are pleased to solidify and expand our relationship with Mitsubishi which began last year. We have been impressed with their high quality laserdiscs, exceptional service, and on-time delivery. As continued growth in the laserdisc industry leads to increased manufacturing demands, we are now allied with one of the largest industrial companies in the world."
 Martin Greenwald, Image's chairman and chief executive officer, said, "We are delighted with our association with Mitsubishi. Through their purchase of Image common stock, they have expressed their confidence in Image's long-term potential in the laserdisc industry. Mitsubishi's $4 million investment will help Image further expand its presence as one of the largest laserdisc licensees and distributors in the United States."
 Mitsubishi Corporation is a multinational trading company engaged in a wide range of trade and investment in various fields such as consumer electronics, communication and information business.
 Mitsubishi Plastics is a leading manufacturer of plastic products, recently focusing on information media and electronics material.
 Image Entertainment has an estimated 35 percent-40 percent share of the domestic laserdisc market. The company has the most extensive library of titles and exclusive licensing and distribution agreements with some of the most important suppliers of movies, music videos and specialty programming, including Disney's Buena Vista Home Video, FoxVideo, Hanna-Barbera Home Video, Orion Home Video, Turner Home Video and SONY Music Video. The company's common stock trades on the NASDAQ National Market System (Symbol: DISK).
 -0- 2/27/92
 /CONTACT: David DelGrosso (media), 818-407-9100, ext. 275, or Cheryl Lee (investors), 818-407-9100, ext. 256, both of Image Entertainment; or William F. Coffin of Financial Relations Board, 818-783-2400, for Image Entertainment/
 (DISK) CO: Image Entertainment; Mitsubishi Corp.; Mitsubishi Plastics
 Industries Ltd. ST: California IN: ENT SU: TNM


KJ-JL -- LA021 -- 3055 02/27/92 05:51 EST
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Publication:PR Newswire
Date:Feb 27, 1992
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