Image Entertainment Announces Short-Term Extension Of The Outside Merger Closing Date Allowing Parties To Continue Discussions Related To The Transaction

[The following is a release from Image Entertainment]

February 4, 2008

Image Entertainment, Inc., a leading independent licensee, producer and distributor of home entertainment programming in North America, announced today that its pending acquisition by BTP Acquisition Company, LLC did not close today; however, representatives of the parties met today to discuss the status of the transaction and determined it was in the parties’ best interests to extend the outside closing date under the Merger Agreement for a limited time to allow for further discussions. Today’s discussions were reviewed at a meeting of the Board of Directors of Image held in the afternoon of February 1, 2008. The Image Board meeting was recessed until Tuesday, February 5, 2008, at which meeting the Board hopes to determine the final status of the merger transaction. BTP and Image entered into an extension agreement to extend the outside closing date under the Merger Agreement to 2:00 p.m. PST on Tuesday, February 5, 2008.

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