UTVM Utv Motion

RNS Number:1970E
UTV Motion Pictures PLC
20 September 2007


FOR IMMEDIATE RELEASE                                          20 September 2007


                              UTV Motion Pictures Plc

                    Finalisation of financing for The Happening

UTV Motion Pictures Plc (AIM: UTVM) ('UTVM' or the 'Company') is pleased to
announce that, further to disclosures made in its admission document dated 26
June 2007, the Company has finalised arrangements for the production of the live
action movie The Happening.


Further to the memorandum of understanding signed with Blinding Edge Pictures
Inc. (a movie production company established by the director, M. Night
Shyamalan) an agreement has now been signed with Twentieth Century Fox Film
Corporation ("Fox") for the financing of 50 per cent. of the cost of production.


The cost of production of The Happening is estimated at $67 million, split
equally between the Company and Fox. The Company's commitment, under the
agreement for $33.5million, has been met with the issue of letter of credits by
two financial institutions which matures in 24 months.


The movie is expected to be completed within the next 24 months and world wide
distribution of the movie is being arranged by Fox. Revenues from The Happening
will be split equally between the Company and Fox.


ENDS


CONTACTS


UTV Motion Pictures Plc                                     +91 22 2495 2513
Siddharth Kapur - Chief Operating Officer

Grant Thornton (Nomad)                                      +44 (20) 7383 5100
Fiona Owen


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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