Moving Picture Company targets US $300 million international stock footage market in partnership with Movico Technologies on Thursday, May 15th, 2008

New Delhi, INDIA - Movico Technologies, India’s leading video software startup, today announced its partnership with Moving Picture Company (India) Ltd. wherein for the first time in India an entire library of rare archival footage will be digitized and jointly promoted and sold globally, through Movico’s new video aggregation website.

Moving Picture’s exclusive and priceless video footage, exceeding 12,000, hours includes travel destinations, exotic locations, major political events, profiles of Bollywood stars, celebrities, music performances and unique stock footage from all over India, Afghanistan and Bhutan. It also includes fiction programmes and original animation footage. Movico will undertake the digitization, classification and repurposing of footage that will allow Moving Picture Company to easily access the video library for its own production use as well as to make select footage available worldwide for sale, to other content producers.

Speaking on the partnership, Mr. Ramesh Sharma, Chairman and Managing Director of Moving Picture Company (India) Ltd., said, “We have always believed our library has great value waiting to be unlocked, and this partnership with Movico will allow us to tap both the Indian and the global market.”

According to Ms. V.N. Saroja, Director & co-founder, Movico Technologies, “Indian content is in great demand world over and this partnership with MPC will make available rare Indian stock footage globally. This market is growing exponentially and according to BBC Worldwide, is currently estimated at US$300 million and poised to grow to $1 billion by 2010.”

Movico has tied up with several international stock footage websites for cross-promotions; with international producers for stock footage consumption and with content distribution platforms for global delivery.

Movico is investing more than $1 million to create a sophisticated, tightly integrated, multi-purpose video production, storage and broadcast management system capable of handling enterprise class loads and intends to raise over US$5 million this year to strengthen its portfolio of product, service and aggregation targeted at the video content market, which in India itself, is estimated to grow to a significant US$30 billion by 2012, according to the FICCI & PWC Report 2008.

About Movico:

Movico Technologies is India’s leading video software startup. Movico integrates key video, mobile, PC and internet technologies to build next generation video software products serving the needs of video producers and distributors. Movico’s MediaBaron is an integrated software platform for a tape-less, completely digital workflows for video producers. The company was founded by seasoned professionals with global product development experience and has built a strong product design and engineering capabilities.

Movico also offers media services like digitization, meta-tagging, closed captioning and content re-purposing for mobiles thru Digon, its Media Services division. Digon has a 25+ man team of editors and journalists with experience in leading organizations like BBC, ESPN, Star TV Asia and a fully functional studio to serve its customers.

Movico is also working on an Aggregation Website that will provide content owners a vehicle to exhibit and trade their content.

For more information visit www.movicotech.com

About Moving Picture Company (India) Ltd.

Moving Picture Company is one of the leading film and television production houses in the country. Over the years it has produced outstanding content for both Indian and International TV channels in a variety of genres. It is headed by multiple National and International award winning feature film and documentary film maker Ramesh Sharma and former Member of Parlaiment Uma Gajapati Raju.

The company has produced thousands of hours of compelling Television content including Fear Factor India for Sony, Current Bollywood for Set Max, Popkorn and Filmy Fever for ZOOM, a 100 episode daily soap Lavanya for Zee, Kaun Banega Champu for Filmy and a 20 part thriller series Andhakaar for Doordarshan National.

Moving Picture Company also produced an original full length 3D animation series 10x 22 minutes Jungle Tales, based on Panchatantra, This series was premiered on Cartoon Network and Doordarshan The episode on the Tortoise and The Hare won the National Award as the Best Animation film in 2007.

Moving Picture also produced some critically acclaimed documentaries such as the 10 part x 30 min series Making of a Nation and the 10 part x 30 minutes series 25 Incredible Years for the India Today group. The most recent production a feature length documentary film The Journalist and The Jihadi- The Murder of Daniel Pearl was co-produced with HBO, First Take Ltd (UK) and Distant Horizon (South Africa). The film, narrated by internationally recognized TV journalist Christiane Amanpour, was premiered on HBO and then shown on CNN in the USA in 2007. It was nominated for two Emmy awards this year.

Moving Picture Company has also produced some top quality corporate films as well as many of the outstanding films for the Incredible India campaign for the Ministry of Tourism, Govt of India and BBC Worldwide.