Santa Monica Pictures, LLC, Perry Lerner, Tax Matters Partner - Page 122

                                        -201-                                         
               Mr. Wagner determined that the film titles in the EBD film             
          library were produced “several” years before the valuation date.            
          Specifically, three of the film titles were produced in the                 
          1950s, 12 in the 1960s, 25 in the 1970s, 24 in the 1980s, and 1             
          in the 1990s:                                                               
          Alley Cat      1982              Invisible Dead                  1971       
          Astro Zombies       1967         Jungle Master                   1972       
          Auditions           1995         Mother & Daughter: Loving War   1980       
          Avenger             1961         Nasty Hero                      1987       
          Banana Monster      1971         Ninja Hunt                      1987       
          Battle of the Last Panzer       1969Ninja Showdown                  1987       
          Battle of the Valiant1963         Ninja Squad                     1987       
          Beast, The                      1971Oasis of Zombies                1983       
          Blood Brothers                  1974Octavia                         1984       
          Blood Castle                    1971Outlaw Force                    1987       
          Bombay Talkie                   1970Platypus Cove                   1986       
          Cardiac Arrest                  1980Plutonium Baby           1987              
          Carthage in Flames              1959Return of the Conqueror         1964       
          Cold Steel for Tortuga          1965Return of the Zombies           1973       
          Conqueror and the Empress       1964Shakespeare Wallah              1965       
          Courtesans of Bombay            1985Sidewinder One                  1977       
          Crimson             1973         SS Camp 5                       1976       
          Danger Zone                     1951SS Experimental Love Camp       1976       
          Demoniac                        1974Sticks and Stones               1970       
          Duel of Champions               1961Summer Camp Nightmare           1987       
          Equinox                  1971    Terror on Alcatraz              1986       
          Erotkill                 1973    The Sword & The Cross           1958       
          Escape from Hell         1979    The Visitants                   1988       
          Escape from Venice              1979This Time I’ll Make You Rich    1975       
          Fear                     1988    Throne of Vengeance             1964       
          Firefight                1987    Tiger of the Seven Seas         1963       
          Fist of Fear, Touch of Death    1981To Love Again  1980                        
          Fraulein Devil                  1977Tormentor[s], The               1971       
          Headless Eyes                   1971War Cat                         1987       
          House of Terror                 1972White Ghost                     1986       
          Hullabaloo over Georgia         1978White Slave                     1986       
          Hunter’s Blood           1987    Zombie                          1979       
          Invincible Gladiators           1964                                        
          It is clear from these production dates and Mr. Wagner’s                    
          observations that the EBD film library represented a library of             
          older film titles.  Both experts agree that older film titles,              
          except perhaps for classics, would be less in demand than recent            
          productions.                                                                






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