• Lee Cho-hee of MS Team to
  star in new SBS special observation variety program, with the working title BEAUTY
  AND THE BEAST, set to premiere in the first half of the year

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SINGAPORE -�Media OutReach
- 27 January 2021 - Spackman Entertainment Group Limited
("Spackman Entertainment Group" or
the "Company" and together with its
subsidiaries, the "Group"), one of
Korea's leading entertainment production groups, wishes to announce that Lee
Cho-hee of MS Team Entertainment Co., Ltd. ("MS Team"), a wholly-owned
subsidiary of the Group's associated company, Spackman Media Group Limited, shall
star in new SBS special observation variety program, with the working title BEAUTY
AND THE BEAST. The show is expected to premiere in the first half of the
year.

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Lee
Cho-hee of MS Team previously starred in hit KBS2 weekend drama ONCE AGAIN
which also headlined Lee Min-jung of the same talent management agency. Lee
Cho-hee is currently involved in SBS reality-documentary show LAW OF THE
JUNGLE. �

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Other
than Lee Cho-hee, MS Team also represents iconic Korean actress Son Ye-jin, who
starred in highly popular romance drama CRASH LANDING ON YOU (2020), and
top actress Lee Min-jung who won the Top Excellence Award at the 2020 APAN Star
Awards.

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About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited ("SEGL" or the "Company"), and together with its subsidiaries, (the "Group"), founded in 2011 by Charles
Spackman, is one of Korea's leading entertainment production groups. SEGL is
primarily engaged in the independent development, production, presentation, and
financing of theatrical motion pictures in Korea. According to Variety, Korea
was the world's fourth largest box office market in 2019, behind only North
America, China and Japan.���

The Group also invests into and produces Korean television dramas. In
addition to our content business, we also own equity stakes in entertainment-related
companies and film funds that can financially and strategically complement our
existing core operations. SEGL is listed on the Catalist of the Singapore
Exchange Securities Trading Limited under the ticker 40E.

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Production Labels

SEGL's wholly-owned Zip Cinema Co., Ltd. ("Zip Cinema") is one of the most
recognised film production labels in Korea and has originated and produced some
of Korea's most commercially successful theatrical films, consecutively
producing 10 profitable movies since 2009 representing an industry leading
track record. Recent theatrical releases of Zip Cinema's motion pictures
include some of Korea's highest grossing and award-winning films such as CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS
(2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For more
information on Zip Cinema, do visit http://zipcine.com��

SEGL also owns
Novus Mediacorp Co., Ltd. ("Novus
Mediacorp"), an investor, presenter, and/or post-theatrical distributor for
a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS
and SECRETLY, GREATLY, which was one
of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012,
Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing
romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time
highest Video On Demand ("VOD")
sales records in Korea. For more information on Novus Mediacorp, do visit� http://novusmediacorp.com��

The Company owns a 100% equity interest in
Simplex Films Limited ("Simplex Films")
which is an early stage film production firm. Simplex Films has the following
films in the pipeline namely, A BOLT FROM
THE BLUE, IRREVOCABLE PROMISE and
OUR SUPERSTAR K.

The Company owns
a 100% equity interest Take Pictures Pte. Ltd. ("Take Pictures") which has a line-up of several films including STONE SKIPPING, GUARDIAN (working title)
and the co-production with Zip Cinema for THE
PRIESTS 2.

The Company owns a 100% equity interest in Greenlight
Content Limited which is mainly involved
in the business of investing into dramas and movies, as well as providing
consulting services for the production of Korean content.

The Company owns
a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and
release four upcoming films, the first of which will be THE ISLAND OF THE GHOST'S WAIL, a comedy horror film.

Our films are theatrically distributed and released in Korea and
overseas markets, as well as for subsequent post-theatrical worldwide release
in other forms of media, including online streaming, cable TV, broadcast TV,
IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion
pictures into wide-theatrical exhibition initially in Korea, and then in
overseas and ancillary markets.

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Talent
Representation

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The Company holds an effective shareholding
interest of 43.88% in Spackman Media Group Limited ("SMGL"). SMGL, a company incorporated in Hong Kong, together with
its subsidiaries, is collectively one of the largest entertainment talent
agencies in Korea in terms of the number of artists under management, including
some of the top names in the Korean entertainment industry. SMGL operates its
talent management business through renowned agencies such as MSteam
Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO
Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok
Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co.,
Ltd. (Kim Sang-kyung, Kim Ji-young). Through these full-service talent agencies
in Korea, SMGL represents and guides the professional careers of a leading
roster of award-winning actors/actresses in the practice areas of motion
pictures, television, commercial endorsements, and branded entertainment. SMGL
leverages its unparalleled portfolio of artists as a platform to develop,
produce, finance and own the highest quality of entertainment content projects,
including theatrical motion pictures, variety shows and TV dramas. This
platform also creates and derives opportunities for SMGL to make strategic
investments in development stage businesses that can collaborate with SMGL
artists. SMGL is an associated company of the Company.

The Company owns a 100% equity interest in Constellation Agency Pte.
Ltd. ("Constellation Agency").
Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in the
business of overseas agency for Korean artists venturing into the overseas
market. The P Factory is an innovative marketing solutions provider
specializing in event and branded content production. PMG is a talent
management agency which represents and manages the careers of major artists in
film, television, commercial endorsements and branded entertainment.

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Strategic Businesses

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The Company owns a 100% equity interest in Frame
Pictures Co., Ltd. ("Frame Pictures").
Frame Pictures is a leader in the movie/drama equipment leasing business in
Korea. Established in 2014, Frame Pictures has worked with over 25 top
directors and provided the camera and lighting equipment for some of Korea's
most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO
BUY A FRIEND (2020), KIM JI-YOUNG,
BORN 1982 (2019), FOUR MEN (2019)
and ASADAL CHRONICLES (2019).�

Previously, Frame
Pictures was also involved in GIRL COPS (2018),
MALMOI (2018), SUITS (2018), MISTRESS (2018),
LIFE (2018), LIVE (2018), MONEY FLOWER (2017),
SWEET REVENGE (2017), BAD GUYS 2 (2017), THE LEGEND OF THE BLUE SEA (2016) and VETERAN (2015).

We also operate a caf�-lounge called Upper West, in the Gangnam
district of Seoul and own a professional photography studio, noon pictures Co.,
Ltd.

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For more details, do visit http://www.spackmanentertainmentgroup.com/ �