• DEFAULT is a financial thrillerfilm produced by the Company's indirect wholly-owned subsidiary, Zip Cinema
• Featuring Yoo Ah-in ofSpackman Media Group, Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actorVincent Cassel, the film is expected to screen in Korea on 28 November2018 

SINGAPORE- Media OutReach - 15 October 2018 - Spackman Entertainment GroupLimited ("Spackman Entertainment Group" or the "Company" andtogether with its subsidiaries, the "Group"), one of Korea's leadingentertainment production groups founded by financier Charles Spackman, wishesto announce that the Group's upcoming film, DEFAULT,produced by the Company's indirect wholly-owned subsidiary, Zip Cinema Co.,Ltd. ("Zip Cinema"), is set to releasein Korea on 28 November 2018.

DEFAULT is a financialthriller depicting the behind‐the‐scenes story of the tumultuous week leadingup to the rescue package agreed upon between the International Monetary Fund ("IMF")and the Republic of Korea to prevent bankruptcy during the 1997 Asian FinancialCrisis.

The film stars leading Korean actor Yoo Ah-in of theGroup's associated company, Spackman Media Group Limited, veteran actress KimHye-soo, Heo Jun-ho, Jo Woo-jin and French actor Vincent Cassel.

In DEFAULT,Yoo Ah-in plays a mega investor betting against the country's fortunes. KimHye-Soo acts as the leader of the monetary policy team at the Bank of Korea,and French actor Vincent Cassel takes on the role of the managing director ofIMF. The film marksthe first South Korean project of Vincent Cassell, who starred in Frenchindependent films LA HAINE and L'APPARTMENT, as well as Hollywoodmovies OCEAN'S TWELVE, OCEAN'S THIRTEEN and BLACK SWAN.

DEFAULTwas screened atthe 71^st Cannes International Film Festival. The film is directed by Choi Kook-hee anddistributed by CJ Entertainment.

About Spackman EntertainmentGroup Limited

SpackmanEntertainment Group Limited ("SEGL"or the "Company"), and together withits subsidiaries, (the "Group"), oneof Korea's leading entertainment production groups founded by investmentveteran, Mr. Charles Spackman, is primarily engaged in the independentdevelopment, production, presentation, and financing of theatrical motionpictures in Korea. In order to diversify our revenue streams, in the secondhalf of 2018, we will to expand our business portfolio to include theproduction of Korean television dramas. In addition to our content business, wealso make investments into entertainment companies and film funds that canfinancially and strategically complement our existing core operations. SEGL islisted on the Catalist of the Singapore Exchange Securities Trading Limitedunder the ticker 40E.

SEGL'sZip Cinema Co., Ltd. ("Zip Cinema")is one of the most recognised film production labels in Korea and hasoriginated and produced some of Korea's most commercially successful theatricalfilms, consecutively producing 8 profitable movies since 2009 representing anindustry leading track record. Recent theatrical releases of Zip Cinema'smotion pictures include some of Korea's highest grossing and award-winningfilms such as MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALLABOUT MY WIFE (2012). For more information on Zip Cinema, do visit https://zipcine.com  

SEGLalso owns Novus Mediacorp Co., Ltd. ("NovusMediacorp"), an investor, presenter, and/or ancillary distributor for atotal of 76 films (53 Korean and 23 foreign) including THE OUTLAWS and SECRETLY,GREATLY, which was one of the biggest box office hits of 2013 starring KimSoo-hyun of MY LOVE FROM THE STARSfame, as well as FRIEND 2: THE GREATLEGACY. In 2012, Novus Mediacorp was also the post-theatrical rightsdistributor of ALL ABOUT MY WIFE, atop-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by NovusMediacorp broke the all-time highest Video On Demand ("VOD") sales records in Korea. Novus Mediacorp is currently in theprocess of seeking a listing on the Singapore Stock Exchange. For moreinformation on Novus Mediacorp, do visit https://novusmediacorp.com 

Ourfilms are theatrically distributed and released in Korea and overseas markets,as well as for subsequent post-theatrical worldwide release in other forms ofmedia, including cable TV, broadcast TV, IPTV, video-on-demand, and homevideo/DVD, etc. We release all of our motion pictures into wide-theatricalexhibition initially in Korea, and then in overseas and ancillary markets.

Wealso operate a café-lounge called Upper West, in the Gangnam district of Seouland own a professional photography studio, noon pictures Co., Ltd..

TheCompany holds an effective shareholding interest of 43.88% in Spackman MediaGroup Limited ("SMGL"). SMGL, acompany incorporated in Hong Kong, together with its subsidiaries, iscollectively one of the largest entertainment talent agencies in Korea in termsof the number of artists under management, including some of the top names inthe Korean entertainment industry. SMGL operates its talent management businessthrough renowned agencies such as MS Team Entertainment Co., Ltd., UAA & CoInc., Fiftyone K Inc., SBD Entertainment Inc., and Kook Entertainment Co., Ltd.Through these full-service talent agencies in Korea, SMGL represents and guidesthe professional careers of a leading roster of award-winning actors/actressesin the practice areas of motion pictures, television, commercial endorsements,and branded entertainment. SMGL leverages its unparalleled portfolio of artistsas a platform to develop, produce, finance and own the highest quality ofentertainment content projects, including theatrical motion pictures, varietyshows, and TV dramas. This platform also creates and derives opportunities forSMGL to make strategic investments in development stage businesses that cancollaborate with SMGL artists. SMGL is an associated company of the Company.

The Group owns a 100% equity interest inFrame Pictures Co., Ltd. ("Frame Pictures"). Frame Pictures is aleader in the movie/drama equipment leasing business in Korea. Established in2014, Frame Pictures has worked with over 25 top directors and provided thecamera and lighting equipment for some of Korea's most notable drama and movieprojects including the upcoming Korean film GIRL COPS (2018) featuring rising starWi Ha-jun of SMGL and THE GREATESTDIVORCE (2018) starring Bae Doona of SMGL. In 2018, Frame Pictures has also won contracts to supplyequipment to THE BEAUTY INSIDE (2018), HUNDRED MILLION STARS FROM THE SKY (2018), LOVELY HORRIBLY (2018), THEGUEST (2018), historical Korean movie MALMOI, SUITS (2018)featuring Park Hyung-sik of SMGL, MISTRESS (2018), LIFE (2018), LIVE (2018) starring Lee Kwang-soo of RUNNING MAN, MY MISTER (2018) and Netflix's first Korean original production LOVE ALARM (2018). Frame Pictures andNovus Mediacorp are currently seeking to list on the Singapore Stock Exchange.

The Company owns a 100% equity interest inTake Pictures Pte. Ltd.("Take Pictures") which owns astrong lineup of 10 film projects including the co-production with Zip Cinemafor THE PRIESTS 2.

The Company owns a 100% equity interest inConstellation Agency Pte. Ltd. ("Constellation Agency").Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in thebusiness of overseas agency for Korean artists venturing into the overseasmarket. The P Factory is an innovative marketing solutions provider specializingin event and branded content production. PMG is a talent management agencywhich represents and manages the careers of major artists in film, television,commercial endorsements, and branded entertainment.

On 7 May 2018, the Company announced that itwould spin-off Novus Mediacorp and Frame Pictures into a combined entity toseek listing on the Catalist Board of the Singapore Exchange Securities TradingLimited to exploit the growing post-theatrical and camera equipment leasingmarkets.

For more details, do visit https://www.spackmanentertainmentgroup.com/