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Magic Lantern Group Streamlines Operations With Sale Of Media Dubbing Subsidiary NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- Magic Lantern Group, Inc. , a leading North American distributor of educational content and e-learning delivery with operations in Canada and the U.S., announced today that it has completed the sale of its media dubbing subsidiary, Image Media, Inc., to BKR Media, Inc. Magic Lantern Group's President and CEO Robert Goddard stated, "Our restructuring plan is well underway. The sale of our media dubbing subsidiary is part of our restructuring plan to de-emphasize non-strategic business units and focus on our core business of educational video distribution and digital streaming technology." Goddard continued, "As a result of this sale, we have streamlined our operations by strengthening our balance sheet, reducing our expenses and creating greater operating efficiencies, better preparing us to increase our market penetration across key areas of growth. These areas include capturing additional market share in the U.S. and abroad for our e-learning products, TutorBuddy(TM) and Magic Lantern InSite(TM), in addition to digitizing content for some of the world's leading educational producers. We plan to support our restructuring plan through the recruitment of top-talent to the management team over the next several months. By taking these measures, we look forward to continue to strengthen our expertise and position in the global video distribution marketplace." Additional details of the sale can be found in the Company's Form 8-K available at http://www.freeedgar.com/. About Magic Lantern Group, Inc. Magic Lantern Group, Inc. is a leading North American learning video distributor with licensing operations in North American and world markets. Through its video streaming technology business and its specialized "video indexing" subsidiary, Sonoptic Technologies Inc., the Company currently serves more than 9,500 schools and libraries throughout Canada, in addition to U.S. and international markets. In addition to distributing more than 40,000 school curriculum-relevant video titles from over 300 world-renowned producers including Disney, Schlessinger Media, Annenberg/CPB & Dorling Kindersley, Magic Lantern is penetrating the institutional market with Magic Lantern InSite(TM). Magic Lantern InSite provides teachers and students on-demand, interactive access to an expanding video collection of over 1,300 program titles and nearly 14,000 video objects. The Company is concurrently reaching the consumer market with TutorBuddy(TM), its proprietary e-learning system that provides children with online access to learning video programs used in schools across North America. For more information on the Company, visit http://www.magiclantern.ca/. For more information: For investor relations, contact Gary Geraci, National Financial Network, 781-444-6100 ext. 629, email: . Also visit http://www.nfnonline.com/gml. At the Company, contact Bob Goddard, Magic Lantern Group, Inc., 905-827-2755 ext. 454, . Also visit http://magiclantern.ca/. This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements. DATASOURCE: Magic Lantern Group, Inc. CONTACT: Investor relations, Gary Geraci of National Financial Network, +1-781-444-6100 ext. 629, ; or Bob Goddard of Magic Lantern Group, Inc., +1-905-827-2755 ext. 454, Web site: http://www.magiclantern.ca/

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