Viratech Corp. (VIRA)

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Well, I'll be jiggered...Emperia does not present a great deal of competition...but it sure has it now...look what James is doing! LOL!

Owned Entertainment Announces Website, Executive Team, First Project,
Future Plans, Interactive Entertainment Division and Undefeated MMA
Fighter Cung Le In Key Role

AUSTIN, TX. Oct 17, 2007 (PRIME NEWSWIRE) – Owned Entertainment, Inc.
announced today that it has launched its websites
ownedentertainment.com and MMAmovie.com to the public. The website
contains pictures and detailed bios of the newly announced executive
team which includes Chairman/CEO Eric Alfio, President James Hergott,
President of Production Tarquin Gotch, President of European
Distribution Don Clovis, and President of Domestic Distribution and
Marketing Damir Catic. The website also has a "Captured" section
which includes a number of pictures of its executive staff.

FIRST PROJECT ANNOUNCED

Chairman/CEO Eric Alfio is funding the initial start up and will be
funding the first movie going into production "Owned". Alfio comments,
"We have a very strong and diverse team with expertise in different
areas of the industry, we will set a new standard for mainstream
independent entertainment." The company has also retained an attorney
to take the company public for additional expansion. James Hergott
who recently completed the screenplay and will also be directing Owned
comments, "This is by far the best screenplay I have ever written. It
includes MMA fighting but is also set in the future and is an exciting
sci-fi action thriller. It is a mix of Die Hard, The Matrix, and A
History of Violence. We will be looking for a combination of talented
actors and MMA fighters for the movie. By having our funding already
in place it allows us to focus on the creative side of the business
without worrying about capitalization."

FIRST FIGHTER ANNOUNCED

The first fighter announced is undefeated MMA fighter and world
kickboxing champion Cung Le (www.cungle.com). Le has a key role in
the upcoming Academy Award winner Terrance Howard (The Brave One,
Pride, Hustle & Flow) film Fighting and is growing an impressive
acting resume. Le is excited to be a key character in Owned, he
comments "I am very happy to accept a challenging role that will allow
me to grow as an actor and I look forward to working with Mr.
Hergott."

INTERACTIVE ENTERTAINMENT DIVISION ANNOUNCED

Owned Entertainment, Inc. is also starting an interactive
entertainment division and will be producing a video game in
conjunction with the movie. Owned Entertainment is in negotiations
with several top video game and software designers about co producing
the game. While last year's US movie box office increased to $9.49
billion, the global video game market is expected to grow from $33
billion in 2006 to as much as $47 billion in 2009. It is projected
that worldwide sales for the top video game consoles will reach
between 180 and 210 million by 2012. The recently released Halo video
game pulled in an estimated $170 million during its first 24 hours,
which is more money than any movie in history has made in the US box
office over the same period of time. Interactive entertainment
typically has lower budgets and higher profit margins than motion
pictures, which enables it to increase sales when released in
conjunction with a motion picture. In a recent industry study it was
reported that many games in this scenario have attained 90% or higher
profit margin while the typical Hollywood studio generates overall
margins in the 15% neighborhood. Owned Entertainment, Inc. intends to
position itself to capitalize on this expanding entertainment market
with an aggressive push in the interactive entertainment market as
well as traditional movie markets.

Hergott comments, "The Owned movie is perfect for our first release as
it translates well to both a motion picture and video game. It has
already been reported that Wal-Mart is pulling movies off of shelves
in order to increase its interactive entertainment content space and
video stores such as Hollywood Video are closing up stores. As
entertainment trends change we want to be in a position to capitalize
on future growth markets. Our strategic plan is to be on the
forefront of the convergence of movies and interactive entertainment
so that we are prepared for the future. We want to not only be
focused on where things are now, but where the market is headed in the
next five to ten years. Such diversification could also put us in a
prime position for a future acquisition by an entertainment or
software media conglomerate." Owned Entertainment, Inc.'s Interactive
division will be operated out of Houston, Texas.

ABOUT OWNED ENTERTAINMENT

Owned Entertainment, Inc. has emerged as a player in the area of
independent film production and distribution, once monopolized by the
major film studios. The company engages in investing, producing, and
distributing full-length feature films as well as TV projects, video
games and other entertainment entities. Along with its controlling
equity interest in All That I Need, released in theatres December 2005
and released on DVD February 2006, there are several other projects in
the making, including: The Other Side and Descendant, written by Damir
Catic and Eric Alfio, the action thriller set in the world of Mixed
Martial Arts Owned by James Hergott, Brothers by Tarquin Gotch (whose
credits include Home Alone, Curly Sue, Ferris Bueller's Day Off) and
the Reno 911 type comedic take-off on the popular The Ultimate Fighter
TV show entitled Fight House. Our mission at Owned Entertainment, Inc.
is to produce high quality and highly enjoyable feature films that
will be widely distributed in the mainstream media markets. The
corporate offices for Owned Entertainment, Inc. are in Austin, Texas
with additional offices in Southern California. Owned Entertainment,
Inc. has recently announced adding an Interactive Entertainment
division to focus on video game development.

CONTACT:

James Hergott, President
Email: [e-mail]
General Inquiries: [e-mail]
Website: www.ownedentertainment.com