FXRE FX Real Est And Ent (MM)

FX Real Estate and Entertainment Inc. (NASDAQ: FXRE) announced that it has issued its consolidated financial statements for the fiscal year ended December 31, 2008 as part of its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. The financial statements include a going concern qualification from its independent registered public accounting firm, Ernst & Young LLP. This release has been prepared in compliance with Nasdaq Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of receipt of an audit opinion that contains a going concern qualification.

FXRE�s common stock is listed and traded on the NASDAQ Global Market under the symbol �FXRE.�

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