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Magic Lantern Group Launches Online Digital Video Library Enterprise -- Offers Partners, Distributors and Producers Equity Position in New Division -- NEW YORK, Sept. 28 /PRNewswire-FirstCall/ -- Magic Lantern Group, Inc. (AMEX:GML), (http://www.magiclanterngroup.com/), a leading international distributor of educational content and third-generation digital content and e- delivery solutions, announced today that the Company has launched a new division called Parasol Video, Inc. for the unified creation of catalog information, DVD masters and online digital streaming files for educational markets. In an industry-first move, Parasol Video will also offer Magic Lantern Group partners, educational video distributors and e-learning producers collaborative use of its innovative VideoBase(TM) and InSite online video technologies with options to acquire equity positions of up to 49% in the new division. A goal of the new division is to aggregate, promote and package the largest collected library of online video offerings as an independent or non- specific distributor-affiliated company. Partnering companies will enjoy multiple benefits, including an immediate new sales channel without the upfront costs; option for branded online storefronts; ability to integrate e- commerce hard copy ordering of online titles; increased, global marketing resources and option for an equity stake in a high-growth division. Magic Lantern Group President and CEO Bob Goddard stated, "Parasol Video follows a scalable business model similar to commercial giants such as Amazon.com. Utilizing our proprietary digital indexing technologies, we are creating a portal that allows for centralized searching and the aggregation of millions of titles from multiple suppliers and producers. The cooperative arrangement set forth by Parasol Video is revolutionary in that it allows for revenue sharing on a partnership basis to take place among our suppliers, distributors, and our competitors. Parasol Video will seek contributing video rights on a non-exclusive basis in order to build critical mass, beginning in Canada, followed by the United States and internationally. We expect the division to have a strong impact to Magic Lantern Group's future revenues beginning in 2005." About Magic Lantern Group, Inc. Magic Lantern Group, Inc. is a leading, global distributor of learning videos serving more than 10,000 schools, libraries and social agencies in North American and international markets. With 40,000 programs from 300 world- renowned producers including Disney Educational Media, Schlessinger, Annenberg/CPB and Cerebellum Corporation, monterey media and CTV Television, the Company's educational products include: Magic Lantern InSite(TM), a digital streaming video product for schools, libraries and universities and TutorBuddy(TM), an at-home e-learning product for students and teachers. Leveraging its position as one of the most highly respected brands in video educational delivery, the Company is pursuing multiple sales verticals to maximize total revenues. Magic Lantern Group operates complementary subsidiaries, including Magic Lantern Communications, a global distributor of video content to schools, universities and libraries; Magic Vision Digital Media, Inc., an emerging provider of on-demand sports entertainment, health and business digitized content; and Sonoptic Technologies, a leading provider of online, next-generation digital technology solutions. Contact Information: For Investor Relations, contact Gary Geraci, National Financial Network, 781-444-6100 ext. 629, email: and visit: http://www.nfnonline.com/gml/. At the Company, contact George Wright, , 800-263-1717 ext.2336. 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: For Investor Relations, Gary Geraci of National Financial Network, +1-781-444-6100 ext. 629, email: ; or George Wright, of Magic Lantern, +1-800-263-1717 ext.2336, Web site: http://www.magiclantern.ca/

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