Mr. Thomas Chiu reports

SPACKMAN EQUITIES GROUP REPORTS YEAR END RESULTS

Spackman Equities Group Inc. has released its financial results for the year ended Dec. 31, 2012.

Revenue for the year ended Dec. 31, 2012, was $6,234,000 compared with $53,000 in 2011, not including revenue of $397,000 from discontinued operations in 2011. The increase in revenue is primarily attributable to the commercial success of the film All About My Wife which was produced by SEGI's subsidiary ZIP Cinema Co. Ltd. All About My Wife became Korea's highest grossing romantic comedy of all time.

Net loss for the year was $914,000 or 0.7 cent per share compared with a net loss of $608,000 or 1.2 cents for fiscal 2011.

Earnings (loss) before interest, taxes, depreciation and amortization (EBITDA) for 2012 was a loss of $308,000.

At Dec. 31, 2012, SEGI had $6,745,000 in cash, cash equivalents and marketable securities. There are 148,829,183 common shares outstanding.

EBITDA for 2012 was calculated by deducting from the loss for the year $606,000 for interest, income taxes, depreciation and amortization. EBITDA is not defined by international financial reporting standards (IFRS) and the company's use of such term or measurement of such item may vary from that of other companies. The EBITDA calculation is provided as additional detail so that investors may have a better understanding of the significant events and transactions which have affected the company's results.

The audited financial statements for the year ended Dec. 31, 2012, and management's discussion and analysis of the results, are posted on SEDAR.

Highlights of fiscal 2012

• In the first quarter of 2012, the company purchased 55 per cent of Team Vision International Ltd. which owned approximately 93 per cent of each of Opus Pictures Co. Ltd. and Zip Cinema Co. Ltd. Opus and Zip are independent Korean-based motion picture production companies. Team Vision International Ltd. subsequently changed its name to Spackman Entertainment Group Ltd.
• In the second quarter of 2012, Zip released All About My Wife, a romantic comedy, which quickly became the top box office film in Korea. The film has sold over 4.58 million tickets in Korea and became Korea's highest grossing romantic comedy of all time.
• The company completed a private placement of common shares in the second quarter of 2012 for gross proceeds of $4.35-million which further strengthened the company's cash and financial position.
• In the third quarter of 2012, the company established a wholly owned subsidiary in Korea by the name of Spackman Entertainment Korea Inc. to invest into the slate of films to be produced by Opus and Zip. Also in the third quarter, the company's subsidiary Spackman Entertainment Korea Inc. acquired a 67-per-cent interest in Upper West Inc., which is the owner and operator of the Martini Kitchen, an entertainment cafe and lounge located in Seoul, Korea.
• In the third quarter of 2012, the company established a wholly owned investment company by the name of SEGI Investments Ltd. (SIL). SIL seeks mid-to-long-term capital appreciation by investing in a concentrated portfolio of equity securities of publicly traded Korean small capitalization companies.
• In the fourth quarter of 2012, the company increased its ownership in Spackman Entertainment Group Ltd. from 55 per cent to 65.8 per cent and, as a result, the company now owns indirectly approximately 68.2 per cent of each of Opus and Zip.
• In the fourth quarter of 2012, the company sold its 17.92-per-cent stake in Intech LCD Group Inc. back to the original owner for a price equal to the company's acquisition cost of the shares.
• In the fourth quarter of 2012, the company and SIL accumulated a stake of more than 5 per cent of Cheongbo Industrial Co. Ltd., a Korean auto parts manufacturer listed in Korea. The company disposed of this stake in the first quarter of 2013 and realized a gain of $409,000.
• The company reported positive cash flow and positive net income for the first time during the three and nine months ended Sept. 30, 2012. For the third quarter revenue was $1.2-million and net income was $70,000 or 0.04 cent per share.
• Revenue for the 2012 year improved to $6,324,000 from $53,000 in 2011, not including revenue of $397,000 from discontinued operations in 2011, mainly as a result of the revenue generated by the film All About My Wife, and the company recorded an EBITDA loss of $308,000 for the year (compared with a net loss of $608,000 for 2011).