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WINDSOR COURT HOLDINGS ANNOUNCES PRIVATE PLACEMENT OF 750,000 SHARES

 VANCOUVER, British Columbia, Aug. 18 /PRNewswire/ -- Windsor Court Holdings Inc. (Vancouver: WCG) announced it has arranged, subject to regulatory approval, a private placement of 750,000 shares to one placee at a price of $0.75 per share for total proceeds of $562,500. The placee will also be granted a non-transferable share purchase warrant to purchase up to an additional 750,000 shares for a period of two years at a price of $0.75 per share if exercised in the first year and $0.86 per share if exercised in the second year. The company proposes to pay the maximum finder's fee allowable by the Vancouver Stock Exchange on closing of the private placement to International Portfolio Management Inc. ("IPM") in consideration of its efforts in arranging the private placement. The shares to be issued to the finder will be issued at a price equal to $0.45 per share, being the average closing price of the company's shares for the preceding two weeks. Based on a cash equivalent of $49,687, the company will issue 110,415 shares in respect of this finder's fee to IPM.
 The proceeds of the private placement will be used toward funding the company's obligations to Rocket Pictures Canada, Ltd. ("Rocket Pictures") pursuant to the company's Amended Project Agreement with Rocket Pictures dated Nov. 25, 1992, and amended by Amending Agreement dated June 14, 1993.
 Windsor/Rocket is a distributor of motion pictures in North America through a "label" arrangement which it has distributed through MCA Home Video Inc. and is also developing an important role in the booming video/interactive/motion picture market. Over the past year, Windsor/Rocket has released six videos -- "Journey of Honor," starring Sho Kosugi; "Wildfire," a Zalman King production starring Linda Florentino and Stephen Bauer; "Kill Cruise," starring Patsy Kensit; the Cynthia Rothrock martial arts picture "Honor & Glory"; "Deadly Rivals," starring Andrew Stephens, Margaux Hemmingway, Joe Bologna and Richard Roundtree; and "Hidden Obsession," starring Jan Michael Vincent and Heather Thomas. Upcoming will be "Bilitis, My Love," a $10 million sequel from director David Hamilton of his hit, "Bilitis," and "Tennessee Nights," starring Julian Sands.
 The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 -0- 8/18/93
 /CONTACT: Sandra E. Buschau, director, Windsor Court Holdings, 604-684-4691/
 (WCG.)


CO: Windsor Court Holdings Inc. ST: British Columbia IN: ENT SU:

SB -- DE023 -- 4021 08/18/93 15:41 EDT
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Publication:PR Newswire
Date:Aug 18, 1993
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