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Mainframe Releases Stellar 2000 Results

On Wednesday, July 5, 2000, Mainframe Entertainment, Inc. announced its financial results for the fiscal year ended March 31, 2000. The CGI production company reported earnings of US$1.4 million ($0.84 million attributable to common shareholders) or $0.05 per share, versus a loss of $17 million or $1.23 per share for the year ended March 31, 1999, on a revenue increase of more than 100%. The increase has been attributed to the delivery of 52 episodes, which is double the amount of the prior year. The 52 deliveries included 26 episodes of BEAST MACHINES, TRANSFORMERS, 13 episodes of WEIRD-OHS, 3 episodes of BEASTIES TRANSFORMERS (BEAST WARS TRANSFORMERS in the United States) and 10 episodes of SHADOWRAIDER (WAR PLANETS in the United States). For the twelve months ended March 31, 2000 Mainframe recorded revenue of $32 million, a 106% increase over the $15.4 million in the previous year. Ian Pearson CEO and president of Mainframe Entertainment said, "This was a great year for Mainframe Entertainment, where we built the foundation to continue to be a dominant company in the growing field of computer generated animation. During fiscal 2000 we completed an important financial restructuring, delivered a record 52 episodes and added Sony Pictures Entertainment and Harvey Entertainment to our growing roster of strategic partnerships." Mainframes outlook for the future also looks bright with three substantial deals in 2001. The company has signed a deal with Sony Pictures Entertainment to produce 26 episodes of HEAVY GEAR, an animated action adventure series, for delivery in 2001. Also, Mainframe recently completed production of the first-ever all CGI direct-to-video feature film, CASPER'S HAUNTED CHRISTMAS, with Harvey Entertainment Inc., that will be available in video stores in the fall. Currently, Mainframe is in production on 26 episodes of ACTION MAN with Hasbro Properties Group. The series debuted with a one hour special on Fox TV in the U.S. on May 20, 2000 and garnered the number one rating for its time slot. In addition, the company is in production on GULLIVERS TRAVELS with Imax Corp., which will be the first computer animated film made especially for Imax 3D theatres.

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