Hollywood-Based Production Company Currently On Second Feature THE COOLER

HOLLYWOOD, CA May 8, 2002– Gryphon Films, a feature film production company founded by Robert Gryphon and Brett Morrison, announced today the opening of its production offices, located at 9034 Sunset Boulevard, in the heart of historic Hollywood.

“Technology sets the boundaries of entertainment. Hollywood is at the forefront of this process. Our unique team of entertainment and technology experts is building a new kind of production company. As important examples, we intend to bring studio-level effects to independent films, and the quality and flexibility of digital production to the public,” said Robert Gryphon, Executive Producer and Chairman.

The announcement comes on the heels of wrapping production on their first project, BETRAYAL, an action thriller produced by Dana Bubovsky, directed by Mark L. Lester and stars Erika Eleniak, Julie du Page, James Remar, Adam Baldwin and Jeremy Lelliott.

Gryphon Films is currently working with Ed Pressman of Content Film on the feature film, THE COOLER, directed by Wayne Kramer, written by Frank Hannah and Wayne Kramer, and starring Alec Baldwin, William H. Macy, Maria Bello and Estella Warren. Gryphon Films and Content Film are Executive Producers, with Sean Furst and Michael Pierce producing. Production is in progress. The deal was put together by Rena Ronson, Co-Head of WMA Independent.

Ronson first introduced Gryphon Films to Content Film and said, “I was impressed with Brett’s dynamic drive and passion for the film business and thought that teaming him up with Content Film and THE COOLER would be a great start to his success in Hollywood.”

Ed Pressman said, "It's been a pleasure working with Robert and Brett at Gryphon Films on getting THE COOLER off the page and before the cameras so quickly. Together we've been able to assemble a great cast and crew."

“Gryphon Films is developing projects in a variety of genres and is devoted to creating innovative, engaging high-quality films that are commercially viable. THE COOLER and BETRAYAL are examples of such projects. We are focused on achieving extraordinary cost efficiencies while actually increasing production quality, by applying many of our business and technology development techniques in filmmaking,” said Producer and President Brett Morrison.

Robert Gryphon (www.robertgryphon.com) is an inventor, technology designer, venture capitalist, restaurateur, writer, and composer. He has spent the last two years crafting a multi-faceted business enterprise with a careful blend of traditional businesses and ultra-modern ventures. In 1997, Mr. Gryphon founded Octane Software, which was sold to E.piphany (NASD: EPNY) in August 2000 for a record $3.2 billion in stock. As Octane’s VP of Applications, he was responsible for the company’s product vision and the design of its revolutionary multi-channel CRM software using Internet technologies. He has also written 90 articles for various publications and a book on software development.

Mr. Gryphon is leading or prominent in the management teams of a number of companies, including Gryphon Labs, a technology research and development laboratory; Sagus Capital Partners, a venture fund focused on high-tech enterprise software and services companies; P&M Investments, which purchases, improves, and operates profitable cash-flow businesses; and Company Makers, a new kind of business services firm that handles back office functions for fast-growing startups and conventional small businesses.

Brett Morrison, Producer and President, founded the digital imaging company ememories.com, which was recently sold to PhotoWorks, one of the largest photo processing companies in the U.S. Previously, Mr. Morrison held executive positions with several high-profile software companies. As an early employee at Scopus Technology (now part of Siebel Systems), Mr. Morrison was instrumental in its successful IPO. Throughout his technology career, Mr. Morrison invented and developed complex software systems for Fortune 500 businesses around the world. With substantial experience in sales, visual design, and hard-core engineering, Mr. Morrison now shifts his business, creative, and technical skills to moviemaking - a field poised to reap considerable benefits in this age of entertainment and technology convergence.

For more information, please visit www.gryphonfilms.com, or contact dominion3, for Gryphon Films at (323) 466 -3393 or judy@dominion3.com.

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