CHIEF FINANCIAL OFFICER APPOINTED TO YAQARA STUDIO CITY PROJECT

August 20, 2004

Wilson Michael has been appointed the Chief Financial Officer for Paradise Entertainment Limited (PEL), the company established to develop the Yaqara Studio City site.

Mr Michael has an extensive work history in corporate accounting and management in Fiji, Vanuatu, and Tonga. That includes General Manager Finance for Fiji Telecom.

His appointment coincides with the finalisation of the First Stage Development plans for Yaqara Studio City and follows the key appointment earlier this month of John Achari, Master Planner for the project.

Paradise Entertainment Limited is an unlisted public company whose shareholders include the Fiji Government and NLTB. It holds the licence issued by the Fiji Government to develop the Yaqara Studio City as the legislated tax free zone in a precinct set aside to become the 'hub' of Fiji's growing audio visual industry.

"We are delighted that Wilson has decided to join the project," said Lyndon Driscoll, Managing Director of Paradise Entertainment Limited.

"The decision by Wilson to join us demonstrates the potential of the project to attract the calibre of people we need, both internationally and locally, to work together and assure Fiji's success in the international audio visual arena." he said.

Mr Michael said that his desire to join the company comes from his familiarity with the introduction by government of the new audio visual initiatives for Fiji, in addition to the exciting challenges inherent in becoming part of the development of an era of creativity and investment.

Mr Michael said that Fiji's expansion into the audio visual industry would also provide the young people of Fiji with new training and employment opportunities.

"Developing businesses and infrastructure in the audio visual sector will give our young people opportunities to work in one of the world's fastest growing industries," he said.

"As a father of two, I feel fortunate to be in a position where I can make a positive contribution towards the future of our children," he said, "By building their future we are assuring the future of our country,"

Mr Michael's appointment is effective from 1st October 2004.

Media Contact: Tracey Singh, Tahila Avenue tel: (679) 3323716