LOS ANGELES, Dec. 8 /PRNewswire-FirstCall/ -- Platinum Studios, Inc. (OTC Bulletin Board: PDOS), an entertainment company that controls an international library of more than 5,600 comic book characters which it adapts, produces and licenses for all forms of media, today reported financial results for the three months and nine months ended September 30, 2008 Highlights of the financial results for the quarter: -- Total Assets increased to $3,085,515 compared to $802,301 for the prior year -- Net Revenues nearly doubled in the 3rd Quarter compared to the same period in 2007 -- Operating and Total Expenses were reduced for the 3rd Quarter and through 9 months when compared to the same periods in 2007, net of stock option expenses -- The Net Loss for the 3rd Quarter was 25% less than for the same period in 2007 "Despite turmoil in the global economy and securities markets, we are seeing an increase in activity and a growing interest in our properties," said Scott Mitchell Rosenberg, Platinum's Chairman and CEO. "With the acquisition of eBook distribution company, Wowio, we were able to increase our assets by nearly 400% through the first three quarters of this year while at the same time, we are actively working on reducing our expenses and cleaning up our balance sheet to improve the profitability outlook on the company. We believe this will increase the possibility of attracting additional investment funds to spur continued growth." "We are aggressively pursuing a number of strategic relationship opportunities that validate our business model and support our goal of cash-positive operations within the next 12 to 18 months," said Brian Altounian, President and COO. "Acquiring Wowio was the first major step in that endeavor as it has created a broader distribution capability for our printed material, while simultaneously providing an ongoing revenue stream. As we prepare to ring in the new year, we strongly believe that our efforts will bear fruit for our investors and business partners. We will continue to update our existing and prospective investors with our progress through our appearances on MoneyTV (http://www.moneytv.net/), monthly newsletters and press releases and the financials can be viewed online at the SEC website or at http://www.platinumstudios.com/." Contact: Media Requests: Randy Greenberg Platinum Studios, Inc. 310-807-8100 Platinum Investor Requests: Thomas Becker Platinum Studios, Inc. 702-478-7363 About Platinum Studios, Inc. Platinum Studios (OTCBB: PDOS) is an entertainment company that controls an international library of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile / wireless, gaming, and merchandising. Platinum Studios' library contains more than 5,600 characters spanning a full range of genres and styles, and also includes properties such http://www.drunkduck.com/, the industry's preeminent webcomics community and Wowio, the world's leading distributor of free, copyrighted e-books, at http://www.wowio.com/. Working with leading companies in the entertainment and new media sectors, Platinum believes it is well positioned to emerge as one of the front-runners in the creation of new content across all media platforms. To learn more about the company and to sign up for our newsletter, please visit our website at http://www.platinumstudios.com/. Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Although expected, actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Platinum Studios and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting Platinum Studios and its operations; its markets, products, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by Platinum Studios with the SEC. DATASOURCE: Platinum Studios, Inc. CONTACT: Media, Randy Greenberg, +1-310-807-8100, , or Investor Requests, Thomas Becker, +1-702-478-7363, Web Site: http://www.drunkduck.com/ http://www.platinumstudios.com/ http://www.wowio.com/

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