News Release

Wednesday, December 19, 2002 
T.S.X. Venture Exchange Trading Symbol: ECY

VANCOUVER, B. C., CANADA ------ David Dadon, Chairman of Yaletown Entertainment Corp. (the �Company�) is pleased to make the following announcement:

DAVID DADON THANKS SHAREHOLDERS;
ANNUAL GENERAL MEETING AND CORPORATE INFORMATION

David Dadon, Chairman of the Company, expresses his thanks to the shareholders of the company. "As we enter the festive season and prepare for a brief break from the pressures of business in these times, I want to take this opportunity to thank all of the company's shareholders, both those who are already long term investors and those who have newly joined the Yaletown family. The directors, executive officers, staff and our crews have all worked very hard to bring the Company to the stage we are now at. Our plan is to enter the New Year working even harder and with more determination to further strengthen our financial underpinnings and to begin an active program of feature film development and production. I want to invite all of our shareholders and other interested parties to please contact us with your name and e-mail address or fax number so that you may be kept informed of our continuing progress and to receive the Notice of Meeting and Information Circular for the forthcoming Annual General Meeting. Please contact me directly at [email protected] with the necessary information. Thank you all and please enjoy a safe and happy holiday season!"

Yaletown Entertainment Corp. is a diversified entertainment company combining an award winning production company with a complete High Definition video postproduction services division (see www.post-digitalworks.com) and a state-of-the-art digital audio postproduction services arm (see www.pinewoodsound.com) providing specialty services to the film and television industry in the pacific northwest.

For more information contact John Cumming, C.E.O., at 604-669-3543 or check out our web site at www.yaletownentertainment.com.

David Dadon, Chairman

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.