Seven Arts Entertainment Announces State of Louisiana Approval of Proposed Federal and State Rehabilitation Tax Credits

Seven Arts Entertainment Inc. (NASDAQ:

) announced today that it received approval from the State of Louisiana Historic District Commission regarding its proposed historic rehabilitation credits for the property at 807 Esplanade in New Orleans, Louisiana, as previously announced. The application for such credits was previously announced by the Company. The Company expects that the Department of Parks, of the Department of Interior, will give its approval of the federal and state historic rehabilitation credits for this property on or before September 24, 2012, before reporting of the financial statements for the Company for the fiscal year ended June 30, 2012.