Carolco Pictures High Five Entertainment Wins Fourth Emmy Award

Carolco Pictures, Inc. (OTCQB: CRCO) is pleased to announce today that its majority owned subsidiary, High Five Entertainment, together with Executive Producer and Americana Music Association Executive Director, Jed Hilly, and Producers Michelle Aquilato and Edie Lynn Hoback, won an Emmy in the Entertainment category for its production of the 2014 Americana Music Honors & Awards at the 30th MidSouth Emmy Awards

The Americana Music Honors & Awards is the marquee, kick-off event for the Americana Music Association, a professional not-for-profit trade organization whose mission is to advocate for the authentic voice of American Roots Music around the world. Held at the historically hip Ryman Auditorium, there were an astounding 23 musical performances, which included Jackson Browne, Loretta Lynn, Jason Isbell, Taj Mahal, and rock royalty, Robert Plant. Ten awards were handed out.

High Five Entertainment's Executive Producer Martin Fischer commented, "We are simply thrilled to win in the Entertainment category and to have been nominated among so many worthy contenders. We appreciate Jed and his team at the Americana Music Association and are truly grateful for the opportunity to produce the coolest award show with the most incredible music and musicians on the planet. We look forward to continuing our alliance in the years to come."

Rolling Stone magazine wrote "Like most awards shows, last night's was all about the performances. And, unlike most award shows, said performances were gimmick free, unless you consider excellence a gimmick."

"We are extremely proud of High Five's latest Emmy win and look forward to their continued growth and future successes," added Tarek Kirschen, Chief Executive Officer of Carolco Pictures.

"What an extraordinary accomplishment. We are unbelievably proud to have High Five Entertainment as part of the Carolco Pictures' family. They continue to raise the bar and provide outstanding quality entertainment," said Carolco Pictures' Chief Operating Officer Jacqueline Journey.

About Carolco Pictures, Inc.: Carolco is a diversified entertainment company engaged in the financing, production, and leasing of motion picture properties. Carolco's most recent regulatory filings and financial information can be found on the Securities and Exchange Commission's website at www.sec.gov

Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and Current Reports of Form 8-K.

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