News Release

Monday, December 23, 2002
T.S.X. Venture Exchange Trading Symbol: ECY

Holiday Greetings from Yaletown Entertainment Corp.

VANCOUVER, Dec. 23 /CNW/ - David Dadon, Chairman of Yaletown Entertainment Corp., (the "Company") is pleased to make the following announcement:

David Dadon, Mike Collier, John Cumming, Geoff & Jean Turner, Brian Hammond, Lloyd Simandl and Jim Woolsey wish to all of our employees a happy holidays and all of the best to everyone for this coming year 2003.

As a token of our appreciation we are issuing to each one of our staff at Yaletown Entertainment 1000 shares of Yaletown Entertainment stock (ECY) in recognition of their hard work and dedication to the company. We'd like to thank each one individually: From Yaletown www.yaletownentertainment.com; Lupe Danyluk, Shannon Mildon, Casey Forward, Miranda Wong, Sandra Kazandjian, Brian Reilly, Coleen Smith, Jamal Koussa. From Post-Digital Works www.post-digitalworks.com; James Ruttan, Sean Travers, Seve Schelenz, Chris Boettcher, Kevin Church, J-P Grimard, Brendan Smith. From Pinewood Sound www.pinewoodsound.com; Alan Perkins, Randy Kiss, Wendy Czajkowsky, Scott Schmidt, Curtis Nickerson, Shannon Marshall, Colin Critchley, Karla Harris. And an extra special thanks to our wives Lydia Dadon, Jacquie Collier, Dorothy Cumming and Mrs. Simandl who let us work so many long hours. The total shares given will be 36,000 shares from Yaletown Entertainment (ECY).

The management and staff at Yaletown wish all of our shareholders a safe and merry holiday season and urge all of our shareholders and any other interested investors to contact us at [email protected] to be added to our e-mail list to receive all of our important future announcements.

Best of the season!!

David Dadon

Chairman

Yaletown Entertainment Inc.

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

For further information: Yaletown Entertainment Corp., Tel: (604) 669-3543, Fax: (604) 669-5149; www.yaletownentertainment.com