Seven Arts Announces Closing of Definitive Agreement to Acquire Michery Music Assets, and Release Date of the New Single and Video of "I Don't Dance" by Multiple Platinum Recording Artist DMX

Seven Arts Entertainment Inc.

("Seven Arts" or "Company") announced today that it has closed the acquisition of the music assets of David Michery. Mr. Michery is a music industry veteran with an extensive track record of accomplishments. The acquired Michery assets are comprised of two completed albums with multi-platinum artist DMX, up to two additional albums from DMX and up to five albums from the platinum selling artists "Bone Thugs-N-Harmony." Seven Arts also announced that "I Don't Dance," the first single from DMX's upcoming album "Undisputed," will be released in the United States on March 13, 2012 through Fontana Distribution, a division of In Grooves, a digital distribution company partially owned by the Universal Music Group. The video of "I Don't Dance" featuring DMX and Bad Boy artist Machine Gun Kelly will be available for full service by March 30, 2012. Seven Arts Music CEO David Michery stated: "Even prior to its official release, DMX's single 'I Don't Dance' with Bad Boy's Machine Gun Kelly has already jumped to Number 4 in the Top 200 of the Rap Music Charts of DJBooth.net. Two of the top DJs in the country, DJ Envy (105.1 in New York City) and DJ Flex (97.1 in New York City) said it all: The single is a 'smash' and 'Love the single.'" DMX's last four albums, which were released between seven and twelve years ago, earned gross revenues averaging more than $35 million per album in the United States, according to Soundscan. DMX is the only artist in the history of The Billboard 200 to reach No. 1 with his first five albums. DMX's last solo album, "The Great Depression," topped the chart with debut week sales of 440,000 copies. Earlier albums, "...And Then There Was X" and "Flesh of My Flesh, Blood of My Blood," both sold more than 600,000 units in their opening weeks.