Carving Dreams Entertainment signs strategic co-production deal with Los Angeles' Hollywood Studios International

June 2007, Mumbai... Carving Dreams Entertainment, the country's leading talent agency and entertainment company today announced a mega co-production deal for USD 100mn with Los Angeles' premier entertainment company, Hollywood Studios International. As per the deal, both companies will co-produce 5 films featuring both Indian and international talent. The deal will span across the next 24-36 months.

This strategic partnership will see many firsts in the Indian film industry. A key aspect of the deal is that each of the films will be simultaneously shot in English and in Hindi and will mark the Hollywood debut for many stars from Indian cinema. The projects, which are currently being developed, will be shot in India, the Middle East, and Europe.

Announcing the deal, Mr. Neeraj Bahl, Director, Carving Dreams Entertainment said, "We are very pleased to be partnering with Hollywood Studios International for this exciting initiative. This association gives us the opportunity to not only create movies for global audiences but also provide a platform to showcase Indian talent internationally through these film projects. The deal will also offer us the opportunity to enhance our relationships with leading Hollywood talent agencies. We are looking forward to a wonderful partnership that will add a new dimension to our film industry."

Mr. Steven Saxton, CEO, Hollywood Studios International further added, "The Indian film industry is going through an explosive growth phase. This venture extends an amazing opportunity to produce great movies with a venerable partner and then to have those movies reach an extensive audience. With both our artistic sensibilities and commercial instinct combined with marketing and distribution expertise, the prospects of this collaboration are extremely exciting.

About Carving Dreams

Carving Dreams Entertainment (CDE) is a leading talent agency and entertainment company with its headquarters in Mumbai, India and offices in London and Dubai. Celebrity, film and entertainment properties are at the very core of Carving Dreams. Their key strength lies in creating the right associations between these properties and corporate brands so as to derive maximum value.

Carving Dreams Entertainment was formed in 2005. Their lines of business include artist representation, entertainment consulting & marketing, live shows and film & motion picture production. Carving Dreams Entertainment's client list includes a roster of established talent as well as the future stars of tomorrow.

About Hollywood Studios International

Hollywood Studios International (www.hsifilms.com), an entertainment holding company, exists to create award-winning entertainment which succeeds both artistically and commercially through the inherent synergies of combining elements of a traditional studio system with the structure of artist management. The Company has recently completed a financial audit and is filing the appropriate paperwork to begin trading in the US (OTC: HYWS). Current subsidiaries and divisions include Artist International Management, Doc Hollywood Kidz, Doc Hollywood Records, and Bop City Records. The Company is currently structuring the financing for the acquisition of a feature film production/international distribution company.