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OMNILAB TO INVEST IN AUSTRALIAN FILMS


New Company to Attract Top Australian Film Talent.

Today marks the launch of a new film industry player - THE FLIC COMPANY - designed to provide a studio and financing base for Australias best film-makers. There has never been a financing structure in place in Australia to enable our internationally acclaimed film-makers to make higher budget commercial films for worldwide audiences. Whilst most Australian film companies develop their films first, and then struggle to finance them, THE FLIC COMPANY will reverse the process.

THE FLIC COMPANY has one of the most well-credentialled teams ever assembled, with impressive expertise across all aspects of investment, film financing and production. The group includes Simon McKeon, (Executive Chairman of Macquarie Bank  Melbourne Office) Mark Birrell - Special Counsel, Minter Ellison (former Minister for Major Projects and Infrastructure in the Kennett Government) Barrie Osborne (Lord of the Rings & Matrix), Richard Keddie (Little Fish, My Brother Jack), Noni Hazlehurst A.M. (Little Fish, Candy), Hugo Weaving, (Matrix, V for Vendetta), Fred Schepisi
(Roxanne, Last Orders, Chant of Jimmie Blacksmith).

THE FLIC COMPANY won the Federal Governments FLIC Licence after a highly competitive bidding process and is currently seeking its first $10 million from the private equity market. Chairman, Simon McKeon says We pitched for this licence to raise $20 million in concessional capital over 2 years, based on a sound business model for a financing and production mechanism to attract Australias top film-making talent. 

Richard Keddie, Managing Director, says Once we have raised our FLIC Capital, with the support of the FFC and the Omnilab Group of Companies, we have a financing structure which can fully finance up to $50 million of films, on the condition that we find the right films. We aim to make 3 to 4 films over the first 3 years, in the budget range of $10-20 million.

The right films have to be qualifying Australian films under Division 10BA, and be high quality, commercial films which will appeal to a broad international audience. To address this, THE FLIC COMPANY has established a sister company, THE FILM COMPANY, to be chaired by Barrie Osborne. THE FILM COMPANY, which is based on successful studio models in the US, will be responsible for sourcing, selecting and managing the films on behalf of THE FLIC COMPANY. Barrie Osborne, who has produced studio films for Hollywood for many years says : Clearly many internationally renowned Australian film people want to work at home. For this to become the rule rather than the exception, Australia requires a strong production facility that includes project development, finance, production and marketing.

There is tremendous support for the plan throughout the industry. THE FLIC COMPANY has signed Memoranda of Understanding with the Film Finance Corporation, Australia (FFC) and the Omnilab Media Group. The FFC will, on the basis that the films meet the appropriate criteria, invest up to $30 million in the FLIC films, alongside THE FLIC COMPANY, creating a potential $50 million spend. In addition Omnilab Media Group is contributing up to a further $15 million dollars as a return to the co-investors. The Omnilab Media Group, under the guidance of Managing Director, Christopher Mapp, is one of the largest stakeholders in the Australian film, television and advertising industries. Omnilab Media Group is also developing the sales and distribution side of the business, by offering these funds as a distribution guarantee against sales of the films. Christopher Mapp adds: The Omnilab Media Group and the Mapp family have been investing in film for over 25 years. The move into film distribution is part of Omnilab Media Groups vertically integrated strategy. To benefit investors, most of this $15 million guarantee flows straight to THE FLIC COMPANY and its investors.

In the end it comes down to finding the strongest possible projects. If all three parties agree on the films, Australia will see at least $50 million of high-end films being made by this start-up studio. Barrie Osborne continues, When it opens for business on July 1, 2006, we will invite the best Australian film-makers to utilize our financing and production facility to make their films. There are a number of terrific film projects with great commercial release potential which are presently looking for finance and ours will be one of the best doors to knock on.