ORLANDO, Fla., Aug. 10, 2004 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM) is pleased to announce that subject to the approval of the Board of Directors of a one-year extension beginning July 27, 2004, a minimum payment of $300,000 to be paid during the extension year and an increase from 10% to 25% of all worldwide gross revenues received by Clubhouse on the licensed properties from "Gina D's Kids Club" videos, DVDs, and music CDs, Clubhouse shall receive a one year extension.
The original deal ended as of July 27, 2004 resulted in a $1.8 million reduction of Raven Moon's debt and a stock dividend for all of Raven Moon's shareholders. Club House Videos received the rights to many of "Gina D's Kids Club's" videos, DVDs, and CD products including the Christmas Special. The "Gina D's Kids Club" Television Show has inspired fourteen products of which Club House Videos has the exclusive rights; "Gina D's Kids Club" Volume 1, ("Join The Club"), "Gina D's Kids Club" Volume 2, ("Good News"), "Gina D's Kids Club" Volume 3, ("Smile-A-bility"), the "Gina D's Kids Club" Three Episode DVD, "Gina D's Cuddle Bug Christmas" VHS and DVD, the "Gina D's Kids Club" Music CD Volume 1 & 2, the "Young America" Limited Edition CD single, "Gina D's Dance Party" Music CD, the "Sing A Long With Gina" VHS and DVD, "Cuddle Bug" plush toy, and the "Christmas Cuddle Bug".
As part of the new agreement that must be approved by Raven Moon's Board of Directors, Club House has the right to acquire all new "Gina D's Kids Club" videos, DVDs, and CDs for $300,000 per Video/DVD and $100,000 for each "Gina D's Kids Club" Music CD provided they make a minimum payment of $300,000 during the extension year plus 25% of any and all worldwide gross revenues from licensed properties.
"The new agreement gives Raven Moon a bigger piece of the pie (from the original 10% share to a 25% share) of any and all gross revenues," stated Joey DiFrancesco, Raven Moon, CEO.
Raven Moon Entertainment has recently completed 13 episodes of "Gina D's Kids Club" and has begun syndicating the program nationwide to ABC, FOX, UPN, NBC and PBS stations. "Gina D's Kids Club" will be airing in New York, Los Angeles, Philadelphia, Las Vegas, Maryland, Pittsburgh, and many other states and cities across the country.
Raven Moon will continue to update shareholders as they add new stations to their line up. Please visit www.ravenmoon.net for details.
About "Gina D's Kids Club":
"Gina D's Kids Club" has been hailed by educational leaders such as Mary Beth Leidman, Ed.D, as a viable vehicle in the development of the self-image, social, math, and reading skills in young children. The main character, Gina D, is a fun loving and positive role model who connects with her 2 to 5 year-old aged audience in the same familiarity that children associate with their mothers. Children are not only educated but are entertained by a cast of whimsical characters which include Simon Wannabe, Mister Pockets, Miss Muffin, Pierre D'Artist, TV Ted, and Doggy Brown. Gina D's Kids Club is fun, educational, and contains all original music. The program teaches kids positive messages, and has lovable characters. It is the perfect place for children to make new friends, as they are learning and having fun. Gina D's Kids Club is a place where every kid belongs.
"Gina D's Kids Club" is the best new children's educational program since Sesame Street which satisfies stations FCC requirements," stated Dr. Janice K. Battenberg, Educational Child Psychologist.
For Syndication call Len Koch at Role Entertainment (201) 568-4800 or visit www.bksent.com.
For information on Raven Moon Entertainment and "Gina D's Kids Club" visit www.ravenmoon.net. "Gina D's Kids Club" DVD/Video products are only available through Club House Videos Inc. Visit www.clubhousevideos.com for details.
For Club House Videos Inc. investor information call 1-866-THE-APPLE or 1-866-843-2775 or Marc Jablon at (407) 877-5952 for Raven Moon Entertainment, Inc.
Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third- party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.