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CAMELOT CHAIRMAN INCREASES STOCK HOLDINGS IN MEDIA COMPANY

Recent Share Acquisitions Raise Holdings to just under 70%

UNIVERSAL CITY, CA – January 5, 2011 – Camelot Entertainment Group, Inc.  (OTC: CMGR) (”Camelot”) announced today that its Chairman and CEO, Robert P. Atwell, has increased his common stock holdings in Camelot to 68.59 per cent as a result of recent share acquisitions reported in the Company’s filings with the Securities and Exchange Commission (“SEC”).

“I firmly believe in the future and viability of Camelot Entertainment Group, our employees, our partners and all those who have been working very hard over a period of many years to see our vision become a reality,” stated Camelot Chairman Robert P. Atwell. “We continue to build a strong foundation and to overcome the hurdles and obstacles that have been placed in front of us. Ours is a long journey, and we have stayed the course. As we get ready for 2012, I felt it was important to send a strong message. In acquiring these shares, I am standing shoulder to shoulder with our more than 6300 stockholders who have shown a belief in our company.”

With the recent acquisition of 2,000,000,000 restricted shares in exchange for debt, Atwell and his affiliates now own 4,272,126,487 shares of restricted common stock.

“This is not a race, it’s a marathon,” Atwell added. “Once the market fully understands where we have been, where we are now, and where we are going next, we believe it will reflect the true, long term value of the Company.  Our focus remains, as it always has been, on the growth of the Company and the implementation of our business model.”

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