Seven Arts Pictures Plc Receives NASDAQ Letter Regarding Late Filing of Annual Report

Seven Arts Pictures plc SAPX received a letter from NASDAQ dated January 19, 2011 notifying Seven Arts that Seven Arts was late in filing its annual report on Form 20-F with the SEC for the fiscal year ended June 30, 2010. Seven Arts had today filed its annual report on Form 20-F, and as a result now has 60 calendar days to submit a plan to regain compliance with NASDAQ listing rules. Seven Arts intends to file its annual report on Form 20-F within five business days.