PBC sells Entertainment Resource, Inc.

April 21, 2005

Palm Beach Capital today announced the sale of its equity position in Entertainment Resources, Inc. (ERI) to Glencoe Capital.

Entertainment Resources, Inc., based in Dania, FL, is a leading national distributor and merchandiser of family-oriented home entertainment products to grocery stores, drug stores and specialty retailers. ERI’s products include new releases and catalog films, TV episodes, and fitness and educational videos on DVD and VHS. The company’s integrated category management solution for retailers combines vendor-managed inventory, product fulfillment and in-store merchandising services. ERI’s services improve the retailer’s success in their home entertainment category by optimizing the mix of new release, catalog and promotional content on a store-by-store basis. The company distributes products produced by all the major movie studios and many independent studios.

Palm Beach Capital originally made its investment in Entertainment Resources in October, 2001. ERI grew its business over 700% during the time of the PBC investment.

“Entertainment Resources was a perfect example of the type of partnership we at Palm Beach Capital like to have with our entrepreneurial partners. The joint value added was obvious,” stated James W. Harpel of Palm Beach Capital.

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