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News Release

YALETOWN ENTERTAINMENT CORP.
407 - 535 Howe Street,
Vancouver, B. C. V6C 2Z4
Tel: (604) 688-0118
Fax: (604) 688-3348
CUSIP# 984909101
Rule 12g3-2(b)# 82-4336
 
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Tuesday, Aug. 1, 2000
CDNX Trading Symbol: YAL

 
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
 
CRYSTAL GLOBE NOMINATION
 
The Company is pleased to announce that it has been nominated for a year 2000 Indy Crystal Globe Award. The Global Association of Independent Television ("GAIT") nominated the promotional pilot for Yaletown's new series, Weird Wheels, currently being shot in High Definition format, in the News and Documentary Category. The awards ceremony is in Hollywood, California on September 7th and 8th .
 
GREAT MARKETS OF THE WORLD
 
The Company also announces that it has reached an agreement, subject to final documentation, to acquire the pilot episode and all future rights to the 26 episode series Great Markets of the World.
 
As part of the Great Markets acquisition Craig Watson, executive producer of Great Markets, has joined Yaletown as Head of Sponsorship and Branding and food and wine critic Jurgen Gothe has agreed to consult to the Company on all of its food, wine and lifestyle series and to develop new wine and food series in conjunction with the Company.
 
INVESTOR RELATIONS
 
Mr. Doug Philp, of Toronto, Ontario has agreed to provide investor relations services to the Company at the rate of $2,000 per month subject to final regulatory approval.
 
Yaletown Entertainment Corp. is an award winning television and movie producer listed on the Canadian Venture Exchange under trading symbol YAL.
 
For further information, please contact Mr. John Cumming, Chief Executive Officer, or Roger Kelly, Manager of Corporate Communications, at telephone 604.688.0118 or check out our web site at www.yaletownentertainment.com.
 
John C. R. Cumming
 
John C. R. Cumming, Director, Chairman & C.E.O.

 
THE CANADIAN VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
 
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Yaletown Entertainment Corporation, Vancouver B.C. Canada
tel: (604) 669-3543 - Executive/Production Offices
Canadian Venture Exchange: ECY