News Release

Tuesday, January 14, 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:

DISCOVERY CHANNEL LICENSES WEIRD HOMES, WEIRD WHEELS

The Company has entered into a broadcast license agreement with American broadcast giant Discovery Communications Incorporated for the licensing of a total of 52 episodes of the Company�s award winning series Weird Homes and Weird Wheels. These shows are licensed specifically and exclusively to Discovery�s specialty High Definition channel Discovery HD Theatre.

This is the second major license agreement between the Company and Discovery Channel for U.S. broadcast of the Company�s High Definition television shows. Discovery Channel previously licensed 39 episodes of Weird Wheels and Weird Homes and the ratings success of the Company�s shows in the highly competitive U.S. market has resulted in this further license.

All of the Company�s signature �weird� franchise shows�Weird Homes, Weird Wheels and our new Weird Weddings series are broadcast in Canada on Alliance Atlantis� Life Network. Weird Homes is a Gemini Award winner�the highest award in Canadian television.

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