Hannover House Continues Acquisition Success with

Los Angeles, CA, Jun 10, 2012 (GlobeNewswire via COMTEX) -- Hannover House, inc. (pinksheets:HHSE) has concluded an acquisitions and sales agreement with Phoenix Group Releasing covering an initial slate of nine feature films for video release in North America. Hannover House will immediately begin marketing these items, with the initial films hitting the USA DVD market in August, with all of the remaining titles slated for release to the home video market by February, 2013.

New release titles in the package include: "Frankenstein: Day of the Beast," a 2011 horror production from director Ricardo Islas; "Upon a Midnight Clear," a 2009 family / holiday-themed production from director Arik Rene Avila; "Cowboys and Vampires," a 2011 sci-fi thriller from director Rene Perez; "Killer God," a 2010 suspense-thriller from director Stash Radwanski, Jr.; and "Darkstalkers," a 2010 horror production, also from director Rene Perez;

Two of the older, catalog titles from this Phoenix Group Releasing slate were announced last week by Hannover House. "Beretta's Island" (starring Franco Columbu and Arnold Schwarzenegger), and "Abraxas: Guardian of the Universe" (starring Jesse Ventura and Jim Belushi), will be part of the August release of the "Unexpendables Pack" from Hannover House. Other catalog titles in the package include

"Doublecross on Costa's Island," a 1997 action-adventure production from director and star Franco Columbu; and "Ancient Warriors," a 2003 action-adventure starring Daniel Baldwin, from director Walter Von Heune.

The next release scheduled from the Phoenix line-up will be an October 17 horror multipack entitled the "Chimera Collection." The three title multipack will contain the new release features: "Cowboys and Vampires", "Darkstalkers" and "Frankenstein: Day of the Beast" priced at $14.95 suggested retail. Hannover House anticipates that major retailers, such as Wal-Mart, will support the October horror release, and will price the item for consumer purchase at under $10. Hannover House has eight additional, thematic DVD multipack assortments on the release slate for 2012, exclusively utilizing titles from the existing Hannover House film library.

Phoenix Group Releasing is a well-known and successful distributor and sales agency for independent filmmakers. Under the direction of Phoenix Group CEO Bud Schaffer, the company has released more than 200 titles over the past 25 years, focusing primarily on international sales, and more recently, expanding into domestic Video-On-Demand and Television. The acquisition and sales venture with Hannover House will cover DVD and Blu-Ray rights for all titles, and selected Video-On-Demand rights as available.

Hannover House plans to include most of the PGR titles into the launch of the company's upcoming direct-to-consumer, Video-On-Demand streaming site, www.VODwiz.com , launching this summer. Hannover House plans to offer approximately 2,000 titles for consumers to stream through the VODwiz.com site before the end of this year. Direct-streaming of independent films via VOD to consumers is a large market that Hannover House feels is being largely ignored. Major portals, such as Netflix, Hulu, Amazon and I-Tunes are currently offering only a limited number of independent features. As Video-On-Demand does not require a manufacturing or freight component to its cost structure, Hannover House feels that the VODwiz.com venture will provide the company with higher-margin sales and faster cash flow than the traditional packaged goods side of home video. Hannover House and PGR titles will continue to be offered through other existing VOD portals, even after the launch of VODwiz.com.

Hannover House is also pursuing major titles for theatrical release to provide the company with tentpoles around which catalog and multipack assortments can be balanced. The company's next national theatrical release is the August 24th launch of "Toys in the Attic" starring Forest Whitaker, Joan Cusack and Cary Elwes. Hannover House completed the final mix of this film, under the direction of English adaptation writer-producer-director Vivian Schilling at Todd AO Studios in Santa Monica on Saturday, in mix stage 4. Ms Schilling noted an ironic coincidence that director Tim Burton was also mixing at Todd AO on Saturday, in the adjacent mix stage 3, working on his similarly appealing stop-motion feature, "Frankenweenie." Czech director Jiri Barta has been called "The European Tim Burton" for his eclectic taste in stop-motion animation that mixes commercially appealing elements with the occasionally macabre.

SAFE HARBOR STATEMENT

This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. The sales forecasts prepared by management represent the company's reasonable expectations for performance by titles and media, but in no way constitute a representation, warranty or guarantee that these specific sales and revenue achievements will be achieved.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Hannover House / Target Development Group, Inc.

         CONTACT: Eric Parkinson, Hannover House, Cell 818-481-5277 /  HannoverHouse@aol.com