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capital pictures Liquidated

18 November 2005

Media release

capital pictures Liquidated

Statement made by Mark Hotchin, Chairman Hanover Group

Interests associated with Eric Watson and Mark Hotchin have placed Capital Pictures Limited into solvent liquidation.

Capital Pictures is an investor in the film River Queen. River Queen is currently being marketed to the international film market and is expected to be released in New Zealand in early 2006.

Capital Pictures has also recently been amalgamated with a number of non-active entities from Hanover Group which has allowed the Group to rationalise and simplify its structure in an effort to minimise future administration costs.

ENDS

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