InternetStudios Entertainment Finance Closes Film Financings

LOS ANGELES, Dec 13, 2000 -- InternetStudios.com, Inc. (OTCBB:ISTS), the
global filmed entertainment company that operates online, via its two main
sites OnlineFilmandTVSales.com and reportertv.com, is delighted to announce
that its newly created InternetStudios Entertainment Finance ("IEF")
subsidiary, headed up by film financing specialist, Robert Beattie, has
already completed its first two transactions.

InternetStudios launched IEF in September to provide interim financing for
the production of films. IEF has already expanded by completing two deals to
finance and produce a series of motion pictures through the official
Czech-Canada production treaty. The pictures will be shot in Prague.

The inaugural film, Ariana's Quest, from North American Pictures and
Forgotten Kingdom Productions, stars female WWF Champion Rena Mero,
(formerly known as "Sable"), and has recently gone into postproduction. As
part of the arrangements between IEF and the producers, this film will be
promoted and sold exclusively over the internet via
OnlineFilmandTVSales.com. The InternetStudios group of companies has also
retained the Internet rights to the picture for possible webcasts in the
future.

IEF has also signed a further agreement with North American Pictures and
North American Releasing to produce and finance several further independent
pictures, beginning with the action, adventure picture Omega Force, which
commences shooting in Prague during January 2001.


Rob Maclean, Chairman, InternetStudios comments:

"These transactions represent the beginning of the tremendous opportunities
that we have identified for IEF. We will continue to build our company based
on our focus of working with our clients to take advantage of a variety of
funding sources, including international tax motivated sources, foreign
subsidies and co-production treaties to ensure we fully maximize the
available financing for the producer and launch these productions in the
most financially efficient manner.

"Not only does IEF represent a further source of revenue to our company, it
also provides our clients with another source of product unique to
InternetStudios. These deals and the partnerships that Robert Beattie is
creating for this company through his vast banking experience and
international focus will contribute to the growth of InternetStudios and
benefit the international independent film industry."

IEF works with producers and sales agents and makes available both
conventional and gap financing. The Company has relationships with a number
of private funding sources and significant institutional investors who
provide the necessary capital.

About InternetStudios

InternetStudios.com is positioned as the premier full-service website for
licensing film and television distribution rights and tracking and
distribution of entertainment industry data via the Internet. The company
operates three subsidiaries: OnlineFilmandTVSales.com, the digital
marketplace for sales of film and television rights; reporterTV, which
delivers daily online entertainment industry newscasts; and InternetStudios
Entertainment Finance. Together these leading-edge web offerings provide a
comprehensive solution for entertainment industry professionals.

For more information contact InternetStudios.com, Inc. at 310-394-4025.
Investors call toll free 888-784-6166 or email ir@internetstudios.com

Certain statements contained herein are "forward-looking" statements (as
such term is defined in the Private Securities Reform Act of 1995). Because
such statements include risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements.


For Further Information

Jesse Menzies
Investor Relations
(888) 784-6166
mailto:Jesse.Menzies@pacificcmi.com


Stock Symbol (OTC BB: ISTS)


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