• Underthe Proposed Partnership, the Group's Korean strategic partner, Sunwoo Produce whichshall be the single largest shareholder of ESA, an entertainment company listedon the KOSDAQ, intends to collaborate with the Group to penetrate new overseasmarket in entertainment-related content and businesses, and strategicallyinvest into the Group and/or its affiliates
• The Proposed Partnership canenable both parties to utilize their respective networks and resources toexpand their foothold in entertainment-related sectors across multiple regions

SINGAPORE - MediaOutReach - 5 November2019 - Spackman Entertainment Group Limited ("SpackmanEntertainment Group" or the "Company" and together with itssubsidiaries, the "Group"), wishes to announce that yesterday it has enteredinto a non-binding memorandum of understanding with a strategic partner, SunwooProduce Inc. ("Sunwoo Produce"), a company incorporated in the Republicof Korea, to collaborate in entertainment-related business and investment (the"Proposed Partnership").

Sunwoo Produce has signed adefinitive share purchase agreement (the "Share Purchase") on 18 October2019 to acquire 15.68% of ESA Co. Ltd. ("ESA"), an entertainment companylisted on the KOSDAQ. Following the completion of the Share Purchase, which isexpected to be in the second half of this month, Sunwoo Produce will become thesingle largest shareholder of ESA.

Under the Proposed Partnership,Sunwoo Produce and the Group shall collaborate in opportunities for overseasproduction, investment and distribution of various entertainment-relatedcontent and businesses by utilizing the Group's global networks. Sunwoo Produceand its affiliates, including but not limited to ESA, shall seek opportunitiesto strategically invest into the Group and/or its affiliates.

In addition, Sunwoo Produce andthe Group intend to partner in other entertainment-related businesses andprojects such as film/TV production, talent management, and other mediabusinesses in the markets of Korea, Southeast Asia, and U.S. The Group shallalso arrange foreign investors for Sunwoo Produce, as well as advise and assistin the management of the overseas business of ESA.

Sunwoo Produce and the Groupshall also cooperate to establish a fund focusing on investments inentertainment and technology, which is to be co-managed by the Group and SunwooProduce.

The Proposed Partnership canallow both parties to utilize their respective networks and resources in orderto venture and expand their foothold in entertainment-related sectors across multipleregions.

The memorandum of understandingof the Proposed Partnership shall be terminated if a definitive agreement isnot executed by 31 December 2019, unless extended by mutual written agreement.

The Company will update itsshareholders as and when there are any material developments and/or uponexecution of definitive agreements in relation to the Proposed Partnership.

About Spackman Entertainment Group Limited

Spackman Entertainment GroupLimited ("SEGL" or the "Company"), and together with itssubsidiaries, (the "Group"), one ofKorea's leading entertainment production groups founded by Mr. CharlesSpackman, is primarily engaged in the independent development, production,presentation, and financing of theatrical motion pictures in Korea. In order todiversify our revenue streams, we have expanded our business portfolio toinclude the production of Korean television dramas. In addition to our contentbusiness, we also make investments into entertainment companies and film fundsthat can financially and strategically complement our existing core operations.SEGL is listed on the Catalist of the Singapore Exchange Securities TradingLimited under the ticker 40E.

SEGL's Zip Cinema Co., Ltd. ("Zip Cinema") is one of the mostrecognised film production labels in Korea and has originated and produced someof Korea's most commercially successful theatrical films, consecutivelyproducing 9 profitable movies since 2009 representing an industry leading trackrecord. Recent theatrical releases of Zip Cinema's motion pictures include someof Korea's highest grossing and award-winning films such as DEFAULT (2018), MASTER (2016), THE PRIESTS(2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For moreinformation on Zip Cinema, do visit https://zipcine.com  

SEGL also owns Novus MediacorpCo., Ltd. ("Novus Mediacorp"), aninvestor, presenter, and/or post-theatrical distributor for a total of 79 films(58 Korean and 21 foreign) including ROSEOF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of thebiggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS fame, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also thepost-theatrical rights distributor of ALLABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In2018, THE OUTLAWS, co-presented byNovus Mediacorp broke the all-time highest Video On Demand ("VOD") sales records in Korea. For moreinformation on Novus Mediacorp, do visit https://novusmediacorp.com 

Our films are theatricallydistributed and released in Korea and overseas markets, as well as forsubsequent post-theatrical worldwide release in other forms of media, includingcable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Werelease all of our motion pictures into wide-theatrical exhibition initially inKorea, and then in overseas and ancillary markets.

We also operate a café-loungecalled Upper West, in the Gangnam district of Seoul and own a professionalphotography studio, noon pictures Co., Ltd..

The Company holds an effectiveshareholding interest of 43.88% in Spackman Media Group Limited ("SMGL"). SMGL, a company incorporated inHong Kong, together with its subsidiaries, is collectively one of the largestentertainment talent agencies in Korea in terms of the number of artists undermanagement, including some of the top names in the Korean entertainmentindustry. SMGL operates its talent management business through renownedagencies such as MS Team Entertainment Co., Ltd., UAA & Co Inc., Fiftyone KInc., SBD Entertainment Inc., and Kook Entertainment Co., Ltd. Through thesefull-service talent agencies in Korea, SMGL represents and guides theprofessional careers of a leading roster of award-winning actors/actresses inthe practice areas of motion pictures, television, commercial endorsements, andbranded entertainment. SMGL leverages its unparalleled portfolio of artists asa platform to develop, produce, finance and own the highest quality of entertainmentcontent projects, including theatrical motion pictures, variety shows, and TVdramas. This platform also creates and derives opportunities for SMGL to makestrategic investments in development stage businesses that can collaborate withSMGL artists. SMGL is an associated company of the Company.

The Group owns a 100% equity interest in Frame Pictures Co., Ltd. ("Frame Pictures"). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top directors and provided the camera and lighting equipment for some of Korea's most notable drama and movie projects including the upcoming Korean film GIRL COPS (2018) featuring Wi Ha-jun of SMGL and THE GREATEST DIVORCE (2018) starring Bae Doona of SMGL. In 2018, Frame Pictures has also won contracts to supply equipment to FOUR MEN (2019), ASADAL CHRONICLES (2019), THE CROWNED CLOWN (2019), THE BEAUTY INSIDE (2018), HUNDRED MILLION STARS FROM THE SKY (2018), LOVELY HORRIBLY (2018), THE GUEST (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).

The Company owns a 100% equity interest Take Pictures Pte. Ltd. ("Take Pictures") which has an upcoming film STONE SKIPPING and a line-up of other films such as the co-production with Zip Cinema for THE PRIESTS 2.

The Company owns a 100% equity interest in Constellation 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 the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements, and branded entertainment.

The Company owns a100% equity interest in Greenlight Content Limited which is mainly involved in the business ofinvesting into dramas and movies, as well as providing consulting services forthe production of Korean content.

The Company owns a 100% equityinterest in Simplex Films Limited ("Simplex Films") which is an earlystage film production firm. Simplex Films has severalfilms in the pipeline including, A BOLT FROM THE BLUE, IRREVOCABLEPROMISE and OUR SUPERSTAR K.

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