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TECHNICOLOR : Technicolor and Shanghai Film Group Sign JV Agreement to Build Advanced Digital Post Production Studio

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  Published in House and Home on Monday, June 14th 2010 at 1:00 GMT by Market Wire
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PARIS and SHANGHAI, CHINA--(Marketwire - June 14, 2010) - Technicolor (Euronext Paris 18453; NYSE: TCH) today announced a joint venture with Shanghai Film Group to create a premier post-production studio to serve the fast growing demand for the film, television, advertising, and animation sectors in China.

The new joint venture between Technicolor and Shanghai Film Group, will offer services ranging from front-end processing, dailies, digital intermediates (DI), visual effects (VFX), digital cinema mastering, forensic marking (watermarking), sound mixing, animation production, film 3D, games and other services. The joint venture will also expand into other areas such as video production, management, transmission and access.

Since 1997, China has increasingly been a desirable location for Studios to shoot local Chinese language films for worldwide distribution, but also for filming American productions. A number of productions, such as Karate Kid and Chinese Odyssey 3D, have recently been co-financed by U.S. studios and Chinese film studios.

"The growth of China's film & TV industry are well known, and adds to the potential of such joint venture in an emergent market desiring more and diverse content,'' said Frederic Rose, chief executive officer of Technicolor. "Building on our longstanding experience and relationships with top ranking studios and film production companies, this joint venture with Shanghai Film Group will promote the long stride of China's film and television industry and create a Chinese-based post production studio to serve that market and others."

"Through cooperation with a global post production leader such as Technicolor, Shanghai Film Group will be able to meet, through this newly created JV, the fast-growing demand in China and even the global market," says Mr. Ren Zhonglun, President of Shanghai Film Group. "We are looking forward to benefit from Technicolor's technology, industry know-how and credibility in the area of content creation on a global scale."

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Technicolor is a company listed on NYSE Euronext Paris and NYSE stock exchanges, and this press release contains certain statements that constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Technicolor's filings with the U.S. Securities and Exchange Commission and its filings with the French Autorité des marchés financiers.

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About Shanghai Film Group

As one of the largest and mightiest player in China's film industry, Shanghai Film Group oversees a broad range of subsidiaries, including Shanghai Film Studio, Shanghai Animation Film Studio, Shanghai Dubbing Studio, Shanghai Documentary Film Studio, and Shanghai Film Technology Plant. Shanghai Film Group maintains a triangular business landscape consisting of production, distribution and communication. By now, its film technical services are becoming increasingly mature, film shooting bases are being constantly improved, the film & TV culture industrial chain has basically taken shape and the industrial level has preliminarily achieved the economy of scale.

Shanghai Film Group is one of the leading giant film groups with the most complete industrial chain with quality resources of film & TV production, distribution and cinema line. It has been the mainstay of China's film industry since its foundation six decades ago.

About Technicolor

With more than 95 years of experience in entertainment innovation, Technicolor serves an international base of entertainment, software, and gaming customers. The company is a leading provider of production, postproduction, and distribution services to content creators and distributors. Technicolor is one of the world's largest film processors; one of the largest independent manufacturers and distributors of DVDs (including Blu-ray Disc); and a leading global supplier of set-top boxes and gateways. The company also operates an Intellectual Property and Licensing business.

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