Belltower Signs Finance Agreement and Sets Production Start Date for China

Belltower Entertainment (OTCBB: BTOW) announced today that it has formally entered into multiple agreements to secure financing for the feature film titled Little Treasure, to be filmed on location in Shanghai, China. The film will be jointly financed by Belltower, Indie Film Exchange Holdings Inc. (IFE) and Rouge Entertainment based in Taiwan.

Academy Award winner Forest Whitaker (Last King of Scotland) will executive produce and star in the film which is currently in pre-production and is set to commence principal photography at the beginning of April in Shanghai.

The film is an inspiring story about a bi-racial American couple who return to the wife's homeland of China to rekindle their love and reignite their marriage, only to encounter prejudices, humor, cultural differences, and ultimately self-discovery...and along the way meeting a Shanghai street kid who changes their lives. The screenplay was penned by writer Josh Goldstein (Disney’s Jungle Cruise, “Fresh Prince of Bel Air,” “Jamie Foxx Show”). Michael D. Olmos (Splinter) is attached to direct alongside legendary Hollywood cinematographer Reynaldo Villalobos (Risky Business, A Bronx Tale, Urban Cowboy). Belltower is currently negotiating distribution and will release details as soon as a definitive agreement is reached. Forest Whitaker is repped by WME.

Belltower has two more feature films that are currently in various stages of development and pre-production, and are on the company's production slate for 2010:

Dance the Green is written by Academy Award winner Barry Morrow (Rainman) and starring Giovanni Ribisi (Avatar, Gone in 60 Seconds, Boiler Room) with a budget of US$10 million. It’s set to start production by early summer on location in Pittsburgh and Florida. Belltower's CEO Nina Yang will produce alongside Claire Kupchak and Barry Morrow. Ericson Core (Invincible) is attached to direct. The company is currently in the final stages of negotiations with a major Hollywood actor to co-star. Giovanni Ribisi is repped by CAA and Management 360.

The Times’ bestselling novel, "Smokescreen," about the true life adventure of Allen Long, a documentary film maker who began smuggling pot out of Colombia in the 70's to finance his movie, has been adapted by Paul Cuschieri and will commence pre-production later this year.

Belltower maintains copyright ownership in all three films slated for production this year with majority control over production, financing and distribution.

Nina Yang now tops Belltower as CEO/President while Donald K. Bell has moved over to Chairman of the Board of Directors. Lawrence P. Lichter of Lichter Yu & Associates was recently appointed as company CFO. Lichter brings with him extensive background in both entertainment and SEC/GAP accounting standards and principals, and will be instrumental in all aspects of budgeting, financing and capitalization as Belltower continues to grow and expand.

Belltower Entertainment Corp. is a fully integrated film entertainment company based in Los Angeles with a satellite office in Shanghai, China complimented by strategic production and finance partners throughout the world. Our goal and focus is in securing ownership of film projects to be developed and packaged in-house, which attract premier talent from both behind the camera and in front of it, while keeping costs down through tax friendly production territories and other soft money avenues. Belltower creates favorable studio participation for distribution and P&A funding with critically acclaimed screenwriters and top talent attachments.

With a focus on Asia and Latin America, Belltower is strategically positioned to produce high quality content at cost-effective budgets while maximizing profit margins and upside potential for both the company and its shareholders by retaining control and ownership of its feature film projects.

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