(October 12, 2006) New York –PENELOPE, one of the most sought after films to emerge from the Toronto Film Festival, where it received its world premiere as a Gala Presentation, has been jointly acquired for North American distribution by IFC Films and The Weinstein Company. IFC Films will lead the US theatrical distribution with The Weinstein Company controlling Home Video and Television. Penelope was developed and produced by Type A Films and produced and financed by Stone Village Pictures. The announcement was made today by IFC Entertainment President Jonathan Sehring and Harvey Weinstein, Co-Chairman of The Weinstein Company.

A whimsical story of a young woman’s self discovery, Penelope is directed by Mark Palansky from a script by Leslie Caveny and stars Christina Ricci in the title role. Producers are Academy Award® winner Reese Witherspoon, Jennifer Simpson and Scott Steindorff, and co-producers are Leslie Caveny and Phil Robertson. The film is executive produced by Dylan Russell, Michael Roban, Chris Curling, Robin Greenspun, Danny Greenspun, Andrew Molasky and Christian Arnold-Beutel. Along with Ricci, the film’s cast includes Witherspoon (Walk the Line, Legally Blonde), James McAvoy (The Chronicles of Narnia, The Last King of Scotland), Catherine O’Hara (Best in Show, Home Alone), and Peter Dinklage (Elf, The Station Agent).

A modern-day fairy tale about love and self-acceptance, Palansky's feature film debut tells the story of young Penelope (Ricci), born into a wealthy society family and afflicted by a secret curse that can only be broken when she is loved by one of her own kind. When a willing mate cannot be found, a mischievous reporter (Dinklage) hires Max (McAvoy) to pose as a prospective suitor, in hopes of snapping a photograph of the mysterious Penelope who lives her life out of the public eye, hidden away in her majestic but prison-like home. Max finds himself drawn to Penelope but for fear of exposing her, runs. Fed up, and determined to live life on her own terms, Penelope breaks free from her family, and sets into the world in search of adventure.

Sehring commented, "With the obvious appeal of this remarkable cast, inspiring message and beautifully stylish filmmaking, this is a great movie for audiences of all ages. It's the perfect addition to our 07 slate as we move forward with our plans to acquire and release films with commercial appeal for wide theatrical release.”

Weinstein stated, “Penelope is an enchanting and charming story and is something that audiences can watch and enjoy with their entire family. We have had a strong track-record of partnering with IFC and are thrilled to be releasing this with them."

"It was an amazing experience to see the magical connection that the Toronto audience had for Penelope,” said Palansky. “And now, having IFC and The Weinstein Company on board will ensure that audiences across the country will see it the way it was intended."

Scott Steindorff added, "I am excited to do a third deal with IFC and the Weinstein Co. because they have tremendous passion and a strong commitment to the release of the film."

ICM, which represents the film’s Christina Ricci, Catherine O’Hara, Richard E. Grant,and director Mark Palansky, handled North American sales on Penelope, negotiating the sale on behalf of the producers. Hyde Park is handling the international distribution of the film.

The deal was negotiated by Sehring for IFC and Michelle Krumm, Executive Vice President, Acquisitions and Co-Productions for The Weinstein Company with Andrew Molasky and Scott Steindorff on behalf of Stone Village Entertainment.