CAMELOT DISPELS MERGER RUMORS

Company Denounces False, Unauthorized News Release Circulated on Internet by Unknown Source

Los Angeles – (June 8, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (”Camelot”) announced today that it has not had any merger discussions with any third party and that the unauthorized news release currently being circulated on the Internet by an unknown source is blatantly false. The press release was not generated by anyone representing, working for and/or employed by Camelot. In addition, Camelot has not posted any blog, Facebook update, twitter or other electronic notice regarding any potential merger, as there are no current plans nor are there any negotiations with any third party contemplating a merger.

ABOUT CAMELOT ENTERTAINMENT, INC

Camelot Entertainment Group, Inc. is a US publicly traded company (OTCBB: CMGR) with three major divisions: Camelot Film Group, which includes Camelot Distribution Group and DarKnight Pictures, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. Camelot is a member of the Independent Film & Television Alliance (IFTA). For information about Camelot Entertainment Group, Inc., please visit  www.camelotent.com

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

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