NEW YORK, June 17 /CNW/ - High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc., Beckton Corp., Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP, Icahn Partners Master Fund III LP and Carl C. Icahn (collectively, the "Icahn Affiliates") announced today that they have filed an early warning report with the Canadian securities regulatory authorities confirming their acquisition (the "Acquisition") of beneficial ownership and control of 1,000,000 common shares (the "Acquired Shares") of Lions Gate Entertainment Corp. ("Lions Gate") representing approximately 0.85% of the issued and outstanding common shares of Lions Gate (based upon the 117,032,091 common shares stated to be outstanding as of May 22, 2009 by Lions Gate in Lions Gate's Form 10-K filed with the Securities and Exchange Commission on June 1, 2009). The Acquired Shares were purchased on the New York Stock Exchange at a price of US$5.2600 (Cdn.$5.9811 based on the noon rate quoted by the Bank of Canada of US$1.00 (equal sign) Cdn.$1.1371) per common share.

After giving effect to the acquisition, the Icahn Affiliates may be deemed to beneficially own and control 19,752,312 common shares of Lions Gate (including approximately 130,382 common shares that may be acquired by the Icahn Affiliates upon conversion of the US$1,154,000 in aggregate principal amount of 2.9375% Convertible Senior Subordinated Notes due 2024 (the "2024 Notes") and the US$429,000 in aggregate principal amount of 3.625% Convertible Senior Subordinated Notes due 2025 (the "2025 Notes") of Lions Gate Entertainment Inc. owned by the Icahn Affiliates) representing in the aggregate approximately 16.87% of the outstanding common shares of Lions Gate (based upon the sum of: (i) 117,032,091 common shares stated to be outstanding as of May 22, 2009 by Lions Gate in Lions Gate's Form 10-K filed with the Securities and Exchange Commission on June 1, 2009 plus (ii) approximately 30,035 common shares issuable upon conversion of the 2025 Notes owned by the Icahn Affiliates).

The indenture governing the 2024 Notes states that such notes are convertible, at the option of the holder, into 86.9565 common shares of Lions Gate per US$1,000 principal amount of 2024 Notes, which is equivalent to a conversion price of approximately US$11.50 per common share, only if certain events specified in the indenture governing such 2024 Notes occur. The indenture governing the 2025 Notes states that such notes are convertible, at the option of the holder, into 70.0133 common shares of Lions Gate per US$1,000 principal amount of 2025 Notes, which is equivalent to a conversion price of approximately US$14.28 per common share, at any time.