News Release

Saturday, January 11, 2003
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:

YALETOWN ACQUIRES 15,000,000 SHARES OF MARINE BIOPRODUCTS INTERNATIONAL CORPORATION

David Dadon, Chairman of the Company, is pleased to announce that the Company has signed a share exchange agreement with Marine BioProducts International Corporation (MBP) pursuant to which the Company will exchange 3,000,000 shares of the Company at an agreed price of $0.50 per share for 15,000,000 shares of Marine BioProducts International Corporation at $0.10 per share.

Marine BioProducts International Limited is a manufacturer of high quality dehydrated culture media and agar with applications in life sciences, medicine and industry including pharmaceuticals, medical products, cosmetics and personal care products, and food products.

This transaction is part of a major managerial, financial and organizational restructuring of Marine BioProducts International Corporation. In particular this transaction will facilitate each of the companies in securing required bank operating lines of credit.

The Company and Marine BioProducts International Corporation are related by way of two common directors. Both of the companies have independent directors. The share exchange agreement is subject to the approval of TSX Venture Exchange and the shareholders in general meeting.

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

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