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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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Friday, January 23, 2001
CDNX Trading Symbol: ECY

 
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
 
Yaletown's Weird Homes Racks Up Another Award
With Finalist Status at New York Festivals!

 
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
 
WEIRD HOMES FINALIST AT NEW YORK FESTIVALS!
 
The Company is pleased to announce that its award winning television series Weird Homes was awarded a Finalists Certificate in the category Documentary Series, Biography/Profiles at the prestigious New York Festivals Television Competition.
 
"We are pleased to be recognized for a second time by the New York Festivals," said Yaletown president Mike Collier. "While we just missed the medals this year, the judges clearly recognize the continuing quality of our series."
 
Weird Homes was the Gold WorldMedal winner in the same category at last year's New York Festivals.
 
The Company also produces Weird Wheels which is broadcast in Canada by the Life Network on Thursdays at 7:30 pm Pacific Time (10:30 pm Eastern Time) and 10:30 pm Pacific Time (1:30 am Eastern Time) and Saturdays at 1:00 pm Pacific time (4:00 pm Eastern Time) and 4:00 pm Pacific Time (7:00 pm Eastern Time).
 
Yaletown Entertainment Corp. is an award winning television and movie producer listed on the Canadian Venture Exchange under trading symbol ECY.
 
For further information, please contact Mr. John Cumming, Chief Executive Officer, 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