Peace Arch(R) Entertainment Restructures Operations

• Press Release
• Source: Peace Arch Entertainment Group Inc.
• On 5:30 pm EST, Tuesday December 9, 2008

TORONTO--(MARKET WIRE)--Dec 9, 2008 -- Peace Arch® Entertainment Group Inc. (AMEX:PAE - News) (Toronto:PAE.TO - News) today announced a restructuring of its entertainment operations to reduce overall operating costs and strengthen its financial position. The first step in the cost reduction program will be the elimination of 23 positions over the course of the next two months that will result in an annual saving of approximately $2.4 million.

Related Quotes

Symbol	Price	Change
PAE	0.11	0.00

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About Peace Arch Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 2,000 classic and contemporary titles. For additional information, please visit www.peacearch.com.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, that the corresponding restatement of the Company's financial statements may change based upon the Audit or Special Committee's ongoing analysis, that the Company's ability to file required reports timely with the Securities and Exchange Commission and Canadian securities regulators will be impaired, that potential claims or proceedings may arise relating to such matters, that the Audit or Special Committee in consultation with the Company's independent auditors will determine that the proper accounting differs from the accounting treatment upon which the assumptions and forward looking statements in this release are based and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission and with the Canadian securities regulators. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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     Contact:
     Gerry Noble
     Chief Executive Officer
     Peace Arch Entertainment Group Inc.
     416.783.8383
     Email: Email Contact