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National Financial Network Issues Updated Strongly Favorable Report on Magic Lantern Group NEW YORK, Oct. 15 /PRNewswire-FirstCall/ -- Magic Lantern Group, Inc. (AMEX:GML), (http://www.magiclanterngroup.com/), a leading international distributor of educational content and third-generation, digital content and e-delivery solutions, announced today that National Financial Network, a division of National Financial Communications Corp., has issued a strongly favorable InvestorFacts report on the Company. The October 2004 report includes a profile of Magic Lantern Group's business operations, technology applications, strategic partnerships and investment highlights. Interested parties can view the report online at http://www.nfnonline.com/gml/report.html or call 781-444-6100 ext. 629 for reprints. Geoffrey Eiten, publisher of the NFN InvestorFacts report, stated, "Leveraging a nearly 30-year track record of serving world-class educational producers, Magic Lantern Group and its subsidiaries continue to capitalize on the estimated $100 billion international educational market. Through the recruitment of top-talent, including a recent partnership with a former veteran producer for Disney Educational Productions, Magic Lantern Group plans to begin production on their own original content, as well as secure additional global distribution channels for content delivery." Eiten continued, "The Company has streamlined operations, including divesting itself of its analog dubbing business, and is now diversifying operations into high-growth, untapped markets. Magic Lantern Group is targeting its digital streaming, video and broadcast distribution services for the sports, health care, human resource and related compliance industries. With a multifold growth strategy and solid prospects for near- and long-term growth, Magic Lantern Group represents one of today's most exciting investment opportunities." About National Financial Network National Financial Network, a division of National Financial Communications Corp. (http://www.nationalfc.com/) based in Needham, Massachusetts, is a full-service financial communications and investor relations firm that specializes in micro/small-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence; building upon the client's existing shareholder base; and soliciting institutional coverage. For more information, visit http://www.nfnonline.com/. About Magic Lantern Group, Inc. Magic Lantern Group, Inc. is a leading, global distributor of learning videos serving more than 10,000 schools, libraries and social agencies in North American and international markets. With 40,000 programs from 300 world-renowned producers including Disney Educational Media, Schlessinger, Annenberg/CPB and Cerebellum Corporation, monterey media and CTV Television, the Company's educational products include: Magic Lantern InSite(TM), a digital streaming video product for schools, libraries and universities and TutorBuddy(TM), an at-home e-learning product for students and teachers. Leveraging its position as one of the most highly respected brands in video educational delivery, the Company is pursuing multiple sales verticals to maximize total revenues. Magic Lantern Group operates several, complementary subsidiaries: Magic Lantern Communications, a global distributor of video content to schools, universities and libraries; Magic Vision Digital Media, Inc., an emerging provider of on-demand sports entertainment, health and business digitized content; Sonoptic Technologies, a leading provider of online, next-generation digital technology solutions; and Parasol Video, an online digital video library enterprise for worldwide educational markets. Contact Information: For Investor Relations, contact Gary Geraci, National Financial Network, 781-444-6100 ext. 629, email: and visit: http://www.nfnonline.com/gml/. At the Company, contact Lorraine Villa, Executive Assistant to the CEO, , 800-263-1717 ext. 2450. Disclaimer: NFN InvestorFacts, published by National Financial Communications Corp., endeavors to supply its readers with sound opinions and advice based on its analysis of publicly available information from sources believed to be reliable, but makes no representation as to its accuracy or completeness. Opinions and advice of NFN InvestorFacts are not based upon individual needs or investment objectives of readers nor are they an offer to buy or sell securities. National Financial Communications Corp. and the publisher of NFN Investor Facts have received fees and compensation from the featured company. National Financial Communications Corp., its affiliates and subsidiaries and/or their officers and employees may from time to time acquire, hold or sell a position in the securities mentioned in its profiles. Upon request, the Company can furnish specific information in this regard. For full disclosure information, visit http://www.nfnonline.com/gml/disclaim.html. This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or the company's future financial performance. The company has tried to identify, whenever possible, these forward-looking statements by using terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "should," or "will" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including the risks outlined in our Annual Report on Form 10-K that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels or activity, performance, or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements. DATASOURCE: Magic Lantern Group, Inc. CONTACT: Gary Geraci of National Financial Network, +1-781-444-6100 ext. 629, ; or Lorraine Villa, Executive Assistant to the CEO of Magic Lantern Group, Inc., +1-800-263-1717 ext. 2450, Web site: http://www.magiclantern.ca/

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