STATEMENT FROM INTERNTATIONAL ENTERTAINMENT GROUP Further to IEG’s response on Friday 22 November 2013 to the email communication distributed by individuals from AVE Pty Ltd and Terry O’Neill last Thursday 21 November 2013, IEG wishes to make a further statement in respect of the issues raised by AVE. In or around May 2013, AVE and IEG entered into an agreement for production and broadcasting of various rounds of the Australian Superbike Championship and Australian Supercross Championship. For each Round of each respective Championship, AVE were contracted to produce and broadcast 2 shows for the local Australian market and 1 show for the international market. These shows were to be broadcast within 7 days of each event. In IEG’s opinion, AVE have breached the agreement by reason of it consistently failing to produce and broadcast shows within 7 days of each event, despite receiving full prior payment for many of those events. In some cases, where shows have eventually aired, they have been shown up to 8 weeks after the event, which is unacceptable to IEG, the Motorcycling community and our sponsors. Further, no international shows have been produced and no on-air dates for international broadcasts have been provided by AVE. IEG’s lawyers have recently written to AVE alleging the breach of the agreement and that AVE’s email, which was distributed by individuals associated with AVE, was defamatory of IEG. IEG has demanded that AVE comply with its contractual obligations and produce and air shows over the next few weeks, and to also provide a public apology and retraction of the email. As at the date of this release, no response has been received from AVE. Should AVE not confirm it will air the required shows, IEG has demanded the footage be returned to enable IEG to produce the shows and get them broadcast. If that is necessary, it is anticipated that IEG will commence legal proceedings against AVE for breach of the agreement and to recover the losses IEG has incurred. IEG understands the concerns and frustrations of the Motorcycling community that the contracted shows have not aired and will take all reasonable steps to ensure that those shows are on air as soon as possible. IEG has committed to working with new partners for the 2014/15 Australian Superbike Championship and Australian Supercross Championship season, and is confident that high quality shows will be produced and aired promptly for those championships as was achieved for the 2012 Australian Supercross Championship.