• DEFAULT is a financial thriller
  film produced by the Company's indirect wholly-owned subsidiary, Zip Cinema
• Featuring Yoo Ah-in of
  Spackman Media Group, Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor
  Vincent Cassel, the film is expected to screen in Korea on 28 November
  2018�

�

SINGAPORE
-�Media OutReach�-�15 October 2018 -�Spackman Entertainment Group
Limited ("Spackman Entertainment Group" or the "Company" and
together with its subsidiaries, the "Group"), one of Korea's leading
entertainment production groups founded by financier Charles Spackman, wishes
to announce that the Group's upcoming film, DEFAULT,
produced by the Company's indirect wholly-owned subsidiary, Zip Cinema Co.,
Ltd. ("Zip Cinema"), is set to release
in Korea on 28 November 2018.

�

DEFAULT is a financial
thriller depicting the behind?the?scenes story of the tumultuous week leading
up to the rescue package agreed upon between the International Monetary Fund ("IMF")
and the Republic of Korea to prevent bankruptcy during the 1997 Asian Financial
Crisis.

�

The film stars leading Korean actor Yoo Ah-in of the
Group's associated company, Spackman Media Group Limited, veteran actress Kim
Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor Vincent Cassel.

�

In DEFAULT,
Yoo Ah-in plays a mega investor betting against the country's fortunes. Kim
Hye-Soo acts as the leader of the monetary policy team at the Bank of Korea,
and French actor Vincent Cassel takes on the role of the managing director of
IMF. The film marks
the first South Korean project of Vincent Cassell, who starred in French
independent films LA HAINE and L'APPARTMENT, as well as Hollywood
movies OCEAN'S TWELVE, OCEAN'S THIRTEEN and BLACK SWAN.

�

DEFAULT
was screened at
the 71^st Cannes International Film Festival.�The film is directed by Choi Kook-hee and
distributed by CJ Entertainment.

�

About Spackman Entertainment
Group Limited

�

Spackman
Entertainment Group Limited ("SEGL"
or the "Company"), and together with
its subsidiaries, (the "Group"), one
of Korea's leading entertainment production groups founded by investment
veteran, Mr. Charles Spackman, is primarily engaged in the independent
development, production, presentation, and financing of theatrical motion
pictures in Korea. In order to diversify our revenue streams, in the second
half of 2018, we will to expand our business portfolio to include the
production of Korean television dramas. In addition to our content business, we
also make investments into entertainment companies and film funds that can
financially and strategically complement our existing core operations. SEGL is
listed on the Catalist of the Singapore Exchange Securities Trading Limited
under the ticker 40E.

�

SEGL's
Zip Cinema Co., Ltd. ("Zip Cinema")
is one of the most recognised film production labels in Korea and has
originated and produced some of Korea's most commercially successful theatrical
films, consecutively producing 8 profitable movies since 2009 representing an
industry leading track record. Recent theatrical releases of Zip Cinema's
motion pictures include some of Korea's highest grossing and award-winning
films such as MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALL
ABOUT MY WIFE (2012). For more information on Zip Cinema, do visit http://zipcine.com��

�

SEGL
also owns Novus Mediacorp Co., Ltd. ("Novus
Mediacorp"), an investor, presenter, and/or ancillary distributor for a
total of 76 films (53 Korean and 23 foreign) including THE OUTLAWS and SECRETLY,
GREATLY, which was one of the biggest box office hits of 2013 starring Kim
Soo-hyun of MY LOVE FROM THE STARS
fame, as well as FRIEND 2: THE GREAT
LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights
distributor of ALL ABOUT MY WIFE, a
top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus
Mediacorp broke the all-time highest Video On Demand ("VOD") sales records in Korea. Novus Mediacorp is currently in the
process of seeking a listing on the Singapore Stock Exchange. For more
information on Novus Mediacorp, do visit�
http://novusmediacorp.com�

�

Our
films are theatrically distributed and released in Korea and overseas markets,
as well as for subsequent post-theatrical worldwide release in other forms of
media, including cable TV, broadcast TV, IPTV, video-on-demand, and home
video/DVD, etc. We release all of our motion pictures into wide-theatrical
exhibition initially in Korea, and then in overseas and ancillary markets.

�

We
also operate a caf�-lounge called Upper West, in the Gangnam district of Seoul
and own a professional photography studio, noon pictures Co., Ltd..

�

The
Company holds an effective shareholding interest of 43.88% in Spackman Media
Group Limited ("SMGL"). SMGL, a
company incorporated in Hong Kong, together with its subsidiaries, is
collectively one of the largest entertainment talent agencies in Korea in terms
of the number of artists under management, including some of the top names in
the Korean entertainment industry. SMGL operates its talent management business
through renowned agencies such as MS Team Entertainment Co., Ltd., UAA & Co
Inc., Fiftyone K Inc., SBD Entertainment Inc., and Kook Entertainment Co., Ltd.
Through these full-service talent agencies in Korea, SMGL represents and guides
the professional careers of a leading roster of award-winning actors/actresses
in the practice areas of motion pictures, television, commercial endorsements,
and branded entertainment. SMGL leverages its unparalleled portfolio of artists
as a platform to develop, produce, finance and own the highest quality of
entertainment content projects, including theatrical motion pictures, variety
shows, and TV dramas. This platform also creates and derives opportunities for
SMGL to make strategic investments in development stage businesses that can
collaborate with SMGL artists. SMGL is an associated company of the Company.

�

The Group owns a 100% equity interest in
Frame Pictures Co., Ltd. ("Frame Pictures"). Frame Pictures is a
leader in the movie/drama equipment leasing business in Korea. Established in
2014, Frame Pictures has worked with over 25 top directors and provided the
camera and lighting equipment for some of Korea's most notable drama and movie
projects including the upcoming Korean film GIRL COPS (2018) featuring rising star
Wi Ha-jun of SMGL and THE GREATEST
DIVORCE (2018) starring Bae Doona of SMGL. In 2018, Frame Pictures has also won contracts to supply
equipment to THE BEAUTY INSIDE (2018), HUNDRED MILLION STARS FROM THE SKY (2018), LOVELY HORRIBLY (2018), THE
GUEST (2018), historical Korean movie MALMOI, SUITS (2018)
featuring Park Hyung-sik of SMGL, MISTRESS (2018), LIFE (2018), LIVE (2018) starring Lee Kwang-soo of RUNNING MAN, MY MISTER (2018) and Netflix's first Korean original production LOVE ALARM (2018). Frame Pictures and
Novus Mediacorp are currently seeking to list on the Singapore Stock Exchange.

�

The Company owns a 100% equity interest in
Take Pictures Pte. Ltd.
("Take Pictures") which owns a
strong lineup of 10 film projects including the co-production with Zip Cinema
for THE PRIESTS 2.

�

The Company owns a 100% equity interest in
Constellation Agency Pte. Ltd. ("Constellation Agency").
Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in the
business of overseas agency for Korean artists venturing into the overseas
market. The P Factory is an innovative marketing solutions provider specializing
in event and branded content production. PMG is a talent management agency
which represents and manages the careers of major artists in film, television,
commercial endorsements, and branded entertainment.

�

On 7 May 2018, the Company announced that it
would spin-off Novus Mediacorp and Frame Pictures into a combined entity to
seek listing on the Catalist Board of the Singapore Exchange Securities Trading
Limited to exploit the growing post-theatrical and camera equipment leasing
markets.

For more details, do visit http://www.spackmanentertainmentgroup.com/