• Signing marks a new Saskatchewan/German Co-Production for Minds Eye Entertainment
• Science-Fiction series to be filmed in Canada, special effects in Germany

February 21, 2002 (Regina, SK/ Munich, Germany) - Saskatchewan-based Minds Eye Entertainment and German production company H5B5 Media AG today signed a $35 million Memorandum of Understanding as a part of the Team Canada 2002 Trade Mission to Russia and Germany. Canadian Prime Minister Jean Chretien, Saskatchewan Premier Lorne Calvert, and the Bavarian Secretary of State for Trade and Industry, Mr. Wiesheu were in attendance at the Munich Arena for the signing of the agreement.

Minds Eye Entertainment and H5B5 Media AG signed the Memorandum of Understanding in anticipation of their co-production of Ice Planet, a 22 episode one-hour science-fiction series that takes place on a planet a million light years away. After a devastating attack on Earth, a small group of survivors manage to escape to a desolate, frozen planet. In order to survive, they soon learn that their new home holds the key to an extraordinary secret that could help save mankind. Once financing is confirmed, Ice Planet will be filmed in Canada in the fall of 2002 while the special effects will be rendered by Munich-based H5B5.

"We are very enthusiastic about working with our German co-production partners on this promising new series," says Minds Eye Entertainment' CEO and President, Kevin DeWalt. "Science fiction has tremendous appeal to broadcasters and buyers worldwide and we look forward to bringing yet another production to Saskatchewan."

"We are extraordinarily glad to have found such a forward-thinking company as Minds Eye, both on the creative and business side, to partner with. We think Ice Planet has the potential to become a very potent franchise worldwide and we look forward to going forward together as a very significant Canadian-German co-production," said Hendrik Hey, CEO of H5B5.

"Germany is a key trade and investment partner for Canada, with over $10 billion invested between the two countries. Building on our mutually beneficial and highly successful relationship to date, there is considerable potential for joint venture partnerships between German corporations and Canadian companies to market products and services to other EU countries and Eastern Europe," says Prime Minister Jean Chretien on the Team Canada 2002 web site located at www.tcm-mec.gc.ca

"I am very pleased to see even more success for an industry that has grown over one thousand per cent in Saskatchewan since 1990 - from $5million in annual production to over $80 million," Premier Lorne Calvert said. "The Film and Tax Credit our government established in 1998 has helped to contribute to the growth of this very important industry and to the Saskatchewan economy."

Established in 1986, Minds Eye Entertainment is a fully integrated production, post-production and distribution entity with offices across Canada. As Western Canada's largest privately held film and television production company, Minds Eye Entertainment has been instrumental in contributing to the country's thriving motion picture industry. Its award-winning feature films, television series, shorts and documentaries have been sold in more than 100 countries. The Company website is www.mindseyepictures.com.

H5B5 Media AG, domiciled in Munich, produces high-quality movie and television formats for distribution throughout the international market place. The company was founded in April 1997 by Hendrik Hey and Jan Herrmann. H5B5 Media AG was incorporated in 1999 and went public in February 2000. The company specializes in the development of television production for both the fiction and non-fiction segment. The Company website is www.h5b5.com.

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