2008-09-09 23:56:01 -

www.7artspictures.com/ - First graph, third sentence of release should read: Since June 30th Seven Arts has announced a total of $9,167,000 of balance sheet improvements with cash generated by the financing and distribution of films (sted Since June 30th Seven Arts has announced a total of $9,167,000 of debt with cash generated by the financing and distribution of films.)

Also, first graph, fourth sentence of release should read: No additional debt was incurred to complete any of the loan repayments and the total shares issued and outstanding remains unchanged (sted No additional debt was incurred to complete any of the repayments and the total shares issued and outstanding remains unchanged.)

The corrected release reads:

SEVEN ARTS PICTURES COMPLETES 4 MOTION PICTURE FINANCING DEBT REPAYMENTS EQUAL TO $978,000 - REPAYMENTS NOW TOTAL OVER $9,167,000

Seven Arts Pictures plc (Seven Arts) (PLUS:SAPP) (OTCBB:SAPXF) announced 4 additional debt repayments totaling $978,000. The Company repaid four lenders, 120dB Finance, Parallel Media, Blue Rider Finance, Apollo Apollo Media GmbH & Co. Filmproduktion K.G. and Billy Bart, a total of $978,000. Since June 30th Seven Arts has announced a total of $9,167,000 of balance sheet improvements with cash generated by the financing and distribution of films. No additional debt was incurred to complete any of the loan repayments and the total shares issued and outstanding remains unchanged.

Peter Hoffman, CEO of Seven Arts, commented, "We are very pleased to see our balance sheet improve by over $9,000,000 last year. Our cash flow was excellent and Seven Arts is positioned very well for the Fiscal Year 2009, which started July 1st."

About Seven Arts

Seven Arts Pictures plc ("SAP," "7 Arts" or the "Company") was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

Cautionary Information Regarding Forward-Looking Statements:

Included in this news release and other information that we make publicly available from time to time are forward-looking management comments and other statements that reflect management's current outlook for future periods. These statements include, among others, statements regarding the anticipated benefits from the development, production, or acquisition of new film projects as well as anticipated revenue from other sources and which may be critical to the overall revenue and profits of the Company.

These statements and expectations are based on currently available competitive, financial and economic data along with our operating plans, and are subject to future events and uncertainties that could cause anticipated events not to occur or actual results to differ materially from historical or anticipated results. Among the events or uncertainties which could adversely affect future periods are: changes in legal contingencies; issues surrounding labor disputes with unions such as the Screen Actors Guild, the Director's Guild, and the Writer's Guild; our use of estimates and assumptions; and the concentration of our capital stock ownership. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the risk factors located in our Registration Statement filed with the United States Securities and Exchange Commission as amended on page 11 of Form 20-FR12G/A Amendment 11 (annual report pursuant to Section 13 or 15(d) of the Exchange Act) for the year ended March 31, 2007 and as updated to March 31st, 2008 under Part 1 Item 3 Section 3.D entitled "Risk Factors." The Company undertakes no obligation to update or revise any forward-looking statements contained in this release as a result of new information or future events or developments.

Seven Arts Pictures plc US contact:
Erik Smith, +1-323-692-5010
esmith@7artspictures.com
or
Seven Arts Pictures plc UK contact:
Elaine New, +44-207-355-2051
elainnew@googlemail.com