Devine Entertainment Announces $1.9 Million in Revenues for the 2nd Quarter 2007



    Continued Growth Highlighted by $3.6 million Increase in Revenues for
    First Half of 2007 Over Previous Year and $968,000 in Earnings

    TORONTO, Aug. 15 /CNW/ - Devine Entertainment Corporation (OTCBB:DVNNF)
today reported record growth in revenues and earnings for the 2nd quarter and
first half ended June 30, 2007. The Company's revenues increased by more than
$1.8 million to $1,935,408 for the quarter as compared to $115,414 for the
comparable period in fiscal 2006 (All figures are in Canadian dollars).
Driving the Company's growth was the delivery of the third and fourth episodes
of its new series "Across the River to Motor City," which generated in excess
of $1.8 million. Earnings for the second quarter 2007 increased by $561,353 to
$413,714 or $0.01 per share as compared to a loss of $147,639 for the same
period in 2006.
    The Company also announced that Across the River to Motor City, which is
currently in development for a second season, is expected to drive growth for
the balance of 2007. The Company has projected record revenues of
approximately $6 million.
    Revenues for the six months ended June 30, 2007 increased by more than
$3.6 million to $3,964,483 as compared to $279,274 for the same period in
2006. The Company also reported earnings before interest, taxes, depreciation,
amortization and write-down of debt (EBITDA) was $1.7 million or $0.05 per
share for Q2 2007 and $3.7 million or $0.09 per share for the six months ended
June 30, 2007. Earnings for the six months ended June 30, 2007 increased by
$1,266,142 to $967,926 or $0.02 per share as compared to a net loss of
$298,216 for the same period in 2006.
    "Revenues and earnings continued to increase dramatically as a result of
the Company's focus on the post-production and delivery of the third and
fourth episodes of the Company's new primetime mystery series," said David
Devine, President and Chief Executive Officer of Devine Entertainment. "We
believe that Devine Entertainment will continue to grow as we continue to
deliver on our mission to build shareholder value."
    Management expects strong revenue and earnings growth to continue through
the balance of 2007 with revenues being generated by its proprietary library
of films and television programs and as two more episodes of "Across the River
to Motor City" have been completed and delivered. In addition, new sales from
the Company's recent licensing of the "Marsalis on Music" DVD series are
expected in the second half of 2007.


    
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (Unaudited)
                            (in Canadian dollars)

                              Three months ended         Six months ended
                                   June 30                   June 30

                              2007         2006         2007         2006
                          ------------ ------------ ------------ ------------

    REVENUE                $1,935,408   $  115,414   $3,964,483   $  279,274

    Operating Expenses:       139,086      156,200      241,320      388,577

    NET INCOME/(LOSS)
     for the period           413,714     (147,639)     967,926     (298,216)

    NET INCOME/(LOSS)
     PER COMMON SHARE      $    0. 01      ($ 0.00)  $     0.02   $    (0.01)
                          ------------ ------------ ------------ ------------
    WEIGHTED AVERAGE
     SHARES - (BASIC)      39,370,444   36,509,950   39,342,288   35,949,936
    

    Five-time Emmy Award-winning Devine Entertainment Corporation develops,
produces and distributes primetime drama, children's and family entertainment
for the theatrical motion picture, television and Video/DVD marketplace
worldwide. Their film series on landmark Composers', Inventors' and Artists'
are critically acclaimed and broadcast in over 50 countries. The Company
completed its first feature film for theatrical release, Bailey's Billion$,
which was released in North America on August 5, 2005 and is currently being
distributed worldwide. In 2006 the Company continued expanding its proprietary
library and financed and began production of its first general audience
primetime one-hour mystery series, entitled Across the River to Motor City for
delivery to broadcasters worldwide in 2007. Headquartered in Toronto, the
Company's common shares trade on the NASD OTCBB market in the U.S. under the
symbol DVNNF. The Company's corporate website is www.devine-ent.com.

    This press release may contain forward-looking statements relating to the
future performance of Devine Entertainment Corporation. Forward-looking
statements, specifically those concerning future performance and the
achievement of operating profitability are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties include the market acceptance of the Company's products and
services; competition within the film and entertainment industry and the
introduction of new entrants and/or products in the Company's markets; adverse
changes in governmental regulations and policies affecting the film and
entertainment industry; product development risks and risks of technological
change; the risk of unanticipated expenses; and other risks and uncertainties
all as described in the disclosure documents filed with securities regulatory
authorities in accordance with applicable securities laws. Readers are
cautioned that the foregoing list of factors is not exhaustive. Although the
Company believes that the expectations conveyed by the forward-looking
statements are reasonable based on information available to it on the date
such forward-looking statements are made, no assurances can be given as to
future results, levels of activity and achievements. All subsequent
forward-looking statements, whether written or oral, attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. The Company assumes no obligation to
update forward-looking statements should circumstances or management's
estimates or opinions change.





For further information:

For further information: Arnold Tenney, Richard Mozer, Devine
Entertainment Corporation, (416) 364-2282; Herbert Lanzet, DeeDee Lanzet, H.L.
Lanzet, Inc., (212) 888-4570

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DEVINE ENTERTAINMENT CORPORATION

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