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Intandem Films PLC
15 June 2005

Intandem Films Plc (the 'Company')

Directorate change





The Board is pleased to announce that Alastair John Kennedy has been appointed
as Finance Director with immediate effect. Mr Kennedy is a Chartered Accountant
having trained at Ernst and Young. Mr Kennedy was previously employed by
Electronic Arts UK Studio where he was finance director for four years.



Save as disclosed below, there are no further details required to be disclosed
pursuant to schedule 2(f) of the AIM rules.





Andrew McWhirter, the previous Finance Director, resigned as a director of the
Company and the Board accepted his resignation 14 June 2005. Mr McWhirter's
part time consultancy contract with the Company has been terminated.



Alastair John Kennedy, age 41

Current Directorships Past Directorships

Vacationer Ltd None




End


IFM is a film finance company which joined AIM this quarter. It creates a revenue stream and turns a profit by taking a % cut of feature films - helping with both production & promotion/marketing activities. Several films on the books this year including films previewed at Cannes in May 2005.
New Finance Director announced today previously with Electronic Arts (ERTS on NASDAQ) - over 5 years seeing a share price climb from ~$28 to the $60 mark today. One to watch - literally! DYOR

Further info: www.intandemfilms.com

SD, I respect your views as you clearly have experience of the film world and the stockmarket. My whole reason for looking at this share is that the gearing potential is huge. I am working on the basis that if the company can get a flow of projects, one of them will generate at least the market cap in revenue and provided they keep control of overhead, most of that revenue will flow through to profits. I have looked into the film world a great deal over the last few months and I believe that the main driver at the moment is DVD but in the future the internet will help to drive revenues higher by bringing in more customers, albeit at a lower price. You've made it clear that for whatever reason you don't like the company but you're obviously fascinated otherwise preumably you wouldn't waste your time posting on the board.
By the way, presumably you're an investor in Circle Oil

Distribution Agreement

Intandem Films Plc ( "Intandem" or the "Company")

Distribution Agreement

The board announces that the Company has secured the UK distribution for the
feature film Stoned (the "Film") in a co-distribution agreement between
Intandem and Vertigo Films.

It is anticipated that the Film will be launched in cinemas in the United
Kingdom and Ireland in November 2005 followed by a DVD release in the Spring of
2006.

Under the terms of the agreement with the Film's financier, Audley Films,
Intandem will be entitled to revenue from the direct distribution of the Film
in the United Kingdom and Ireland from cinemas, DVD, all forms of television
and airlines.

Intandem is the worldwide sales company for the Film and the UK distribution
agreement follows sales to Japan, Benelux, Brazil and several other
territories. Intandem is also in negotiations for distribution agreements in
the United States, Germany and France.

Following the Films premiere at the Edinburgh Film Festival, Stoned has also
been invited to several prestigious, international film festivals that take
place during September and October of 2005 including Toronto, San Sebastian,
Dinard, Chicago and Rio de Janeiro.

Intandem is also pleased to announce that it has secured a worldwide
distribution agreement for a soundtrack of the music from the Film with Milan
Music, a specialist soundtrack company whose offices are in Paris and Los
Angeles. The soundtrack album for Stoned is planned for release in the UK
through Warner Records to coincide with the cinema release in November.
Internationally, the soundtrack will be distributed through Universal Music.

Stoned is a feature film based on the last three months of the life of Brian
Jones, the founder of The Rolling Stones, who died in his swimming pool in
1969. It has generated controversy in the media as it challenges the official
verdict of "Death by Misadventure."

Gary Smith, Chairman of Intandem, commented:

"We are delighted to be linking up with Vertigo Films for the UK release of
Stoned. They share our marketing vision for the film and we are looking forward
to the release in November. The soundtrack deal will ensure that we have a
comprehensive campaign for the release of Stoned featuring the internet,
targeted publicity, advertising and a soundtrack album available in the record
stores. As Brian Jones was an original rock'n' roll rebel who died at the age
of 27, the film should appeal to young people as well as the audience who were
around in the 1960s"

Notes

Intandem was established in November 2003 and was floated on AIM in April 2005.
It is a feature film company which arranges finance for the producers of films
and acts as an international sales company. It does not invest in the
production of films.

Vertigo Films is a UK producer and distributor of films. It has previously been
responsible for The Football Factory which to date has sold over 500,000 units
on DVD and is the producer of The Business which is currently on general
release and this week entered the U.K box office charts at number 5.

Audley Films is a film production and finance company that financed the
production of Stoned.

Stoned was directed by Stephen Woolley and stars Leo Gregory, David Morrissey,
Paddy Considine, Monet Mazur Amelia Warner, Tuva Novotny, David Walliams, and
Ben Whishaw.

Contact

Gary Smith Intandem 020 7851 3800

07834 965 323

Liam Murray City Financial Associated 020 7 090 7800
Limited

Sadly, films that premiere at Edinburgh are not usually highly rated on the commercial circuits. What is crucial is the November American Film Market where any critical success of the festival circuit can be used to help sell the remaining territories w/wide. Don't know what the budget was - about 4million is my memory/guess - so maybe there are another $2-3 million primary sales left to make - yielding probably 20% to IFM = 250k ish in turnover. A US deal is critical - anything over $250,000 minimum guarantee should probably be accepted now - $.5m would be high end - my guess.

sd

What do you think of this distribution deal sd. Presumably it should yield some decent revenue particularly on dvd. The tie up with Vertigo who have had success with Football Factory and The Business is interesting. Also they say they are in negotiations with three other countries. Still not dealt but am getting more tempted with this sort of news

"Under the terms of the agreement with the Film's financier, Audley Films,
Intandem will be entitled to revenue from the direct distribution of the Film
in the United Kingdom and Ireland from cinemas, DVD, all forms of television
and airlines."

This tells you everything and nothing - what %age of revenue. I've not heard of Vertigo who are definitely a niche operator, maybe stronger on DVD releasing than theatrical. Can't see that many prints going out - 20-30, or 100 prints plus the marketing spend to support it. However, theatrical release should be geared to get maximum public interest for the DVD release without losing money on it. The DVD revenues could be much more interesting bottom line.

"Intandem is the worldwide sales company for the Film and the UK distribution
agreement follows sales to Japan, Benelux, Brazil and several other
territories. Intandem is also in negotiations for distribution agreements in
the United States, Germany and France."

It is indicative that no major European territories have yet been sold (other than UK). Japan is an imprtant sale, but does not much influence the rest of world appetite or prices. Benelux, Brazil - so who are the "others"? If you can't make major territory sales as the film is being finished or first shown, the danger is buyers sit on their hands and wait for the price to drop. Don't forget, there is no absolute value to any film, it's competing against whatever else is on offer from other sales agents.

LOL Are you positive on anything ?

Intandem is also in negotiations for distribution agreements in
the United States, Germany and France.

So it is happening and a good time to buy in.

We also have other revenue generating deals;

Intandem is also pleased to announce that it has secured a worldwide
distribution agreement for a soundtrack of the music from the Film with Milan
Music, a specialist soundtrack company whose offices are in Paris and Los
Angeles. The soundtrack album for Stoned is planned for release in the UK
through Warner Records to coincide with the cinema release in November.
Internationally, the soundtrack will be distributed through Universal Music.


So that again is positive !

Following the Films premiere at the Edinburgh Film Festival, Stoned has also
been invited to several prestigious, international film festivals that take
place during September and October of 2005 including Toronto, San Sebastian,
Dinard, Chicago and Rio de Janeiro.

More publicity...more potential.

I see that it is also not only IFM that you talk down so I have a bloody good idea who you are.

Oh and btw the 150K sale the other day was the Owls.

moneyman - you have no idea who I am, since you refuse to believe the evidence before you. So let me explain. I work in the film business - right at it's heart. I spend the majority of my day advising on film-financing and/or closing actual deals on films ranging from $5 to 25 million budgets, mainly across Europe, Canada and South Africa. I know an enormous amount about the subject and am moderately well-respected by the industry. I make my entire living from it - and a good one too.

I am saying what I believe to be true - it's not a reliable business for PI's to be in. The other thread I am currently debating from a bearish standpoint (not against the stock, just think it too risky an investment today at this price in these circumstances) is CHP. There are many other threads (by far the majority) where I am highly enthusiastic - look at SEO, DGT, FAO, PSG, KMR, EEN, ASC.

The record deal is worth diddly squat in $ terms - but helpful to the marketing effort with a co-ordinated release. The festivals you list frame the film within a certain well-established and commercially limited perspective as regards its profitability. There are two world events that are important for sales - Cannes in May and AFM in November. Oh, and Toronto is a good third place to be - how many sales did they conclude there last week? But Dinard, San Sebastian, Rio de Janeiro - they're local government tourist events - very flattering to be asked to attend, but not in the least sales generative - in fact there is probably a stgrong correlation between films invited to art festivals and poor commercial performance - no causality explained. This is my best advice. Maybe this one will break the pattern, just don't pin you hopes on it. It's still just one movie.

I'm happy to be argued against - even happier for you to prove me wrong and make some money, since I do not hold any position in IFM either way myself.

BUT, please do not take the argument outside the issue into the realm of personal and incipiently abusive mud-slinging - it's beneath you.

good luck

sd

BUT, please do not take the argument outside the issue into the realm of personal and incipiently abusive mud-slinging - it's beneath you.


Seems that you are the one dragging the dirt ! You seem to relish on making trouble and yes that is above me.

If you are in the film business then I suspect that it may not be going well for you by the amount of posting you do on this BB.

Enjoy your day !

moneyman - your suspicions are the last refuge of a troubled mind. Relax, stay friendly, I wish you well. Since you don't like my information or informed views I'm more than happy to bow out from this thread. Bye bye.

btw - I've got so much work on currently, I'm working 12-14 hour days and even round the clock to get all my business closed. Don't presume what you are ignorant of.

sd

sd, your views are indeed informed and provide a useful balance. However, i believe you spoil the views by some clear bias against this company by turning what are at worst neutral news into negatives. For example, saying that san sebastian is a tourist film festival smacks of a lottle jealousy. I would have thought that Spanish distributors attend the festival which is a perfect opportunity to achieve a sale. However, I have bowed to your superior knowledge up to now and value your input. My view is that IFM has the POTENTIAL to be a ten bagger during the next 12 months but they need more films and distribution for Stoned.

Altoid
Of course I have a clear bias against this company - I've looked at what I know about it and come to a negative conclusion about it. Why would I stay neutral? Totally respect Moneyman and your right to disagree, happy to have the error of my analysis pointed out. I've made some enormous howlers on other thread - quite capable of it here.

I'm happy to admit I don't know everything (or indeed even enough), let alone interpret it correctly, but I say what I see.

Don't understand your comment re being jealous of San Sebastian - fabulous place, lovely festival. If a sales agent is waiting to sell a film to Spanish distributors there, it probably means they have not found one already via another means. That's all. Sales agents cannot afford to go to morethan a couple of festivals - it's simply too expensive. Only last year Milan's MIFED was cynically squeezed out of existance by US's AFM deliberately moving from February to November. This was largely at the request and support of sales agents wanting to reduce three major markets to two to save overheads.

It is such a tough world out there in independent film financing and distribution, I admire anyone who tries. But it's not a place for my pension investments.

Sorry, broke my word to Moneyman not to post here again. I guess I am as thin-skinned as the next when my sincere motives are questioned.

sd

Thanks SD. As I said, your input is helpful to my understanding. Interesting what you ay about the expense of markets. I read in Screen a couple of weeks ago that two or three sales companies have closed down including Renaisance and Portman. Any insight there?

Hadn't heard Renaissance had stopped. Heard that Portman had gone into strictly television sales and dropped feature work.

Renaissance has gone into administration. Do you know anything about either of them. How do they compare with IFM? Do you work in film sales?

Renaissance had a fairly good reputation, although its original partners split a couple of years ago with production heading off to pastures new and sales staying behind. Ironically it was the production division that was eating money and sales that should have made money. I'm sorry for Angus Finney who always seemed like nice chap. Their administration probably accounts for why I don't seem to encounter them any more.

They were latterly not really like IFM - more pure sales with no development and exec producing (and no capital!), although I am sure they found themselves in the latter role on occasions faute de mieux given the general level of producer expertise in closing finance.

Two other AIM listed co's in similar vein are CCN and CFL. I would rate CCN as best chances of all three with a more rounded slate for release coming up, with CFL now available at rock bottom prices since its business model failed completely when UK government changed the tax break rules last year, now trying to reinvent itself. IFM is somewhere in between currently with only three films completed and two in development - what's it going to do for the next two years whilst these com into production? - probably pick up some more ready-to-go productions. I hope it gets there.

Thanks for the insight SD. I agree that CCN is probably the one to watch along with IFM. IFM has more than two films in development. They've got their own and the Film Council slate films so hopefully they should be announcing more productions soon. Frankly it is that and the US distribution for Stoned that I'm waiting for.

Good discussion. I still rate this a buy but I would seeing as I am a holder ;-)

New film just added to their portfolio.

Some interesting posts on ADVFN