CONCORD, N.C. (Jan. 18, 2008) - Gravity Motorsports announced today the formation of a NASCAR Sprint Cup Series team which will compete on a limited basis in 2008 and debut full-time in the series in 2009. Gravity Motorsports will begin operation immediately but will delay formal entry into NASCAR Sprint Cup events, utilizing the 2008 season as a research and development period in order to build the necessary tools and talent to be competitive in their initial debut.

Gravity Motorsports is planning multiple races and test sessions for development during the 2008 season as the Gravity Motorsports competition staff begins building and developing the cars, data and information necessary to debut later in the season.

Gravity Motorsports is a division of Gravity Entertainment, a highly-diverse global media company centered on film and television production and distribution. Formed in 1997, the entertainment company's goal is to aid in the continued growth of the independent film and television industry in an ever-changing global environment.

“We at Gravity Entertainment are pleased to announce the formation of Gravity Motorsports, a NASCAR Sprint Cup Series team which began operation in early January of 2008," said Steve Gagnon, President of Gravity Entertainment. "Gravity Entertainment understands the opportunity the racing industry provides to companies with a mainstream product to market. It provides access to a large group of dedicated, repeatedly-proven brand-loyal fans who are supportive of the companies associated with NASCAR and its teams. We wanted to utilize the immense opportunity the motorsports industry provides in order to expand and promote our movies, television shows and related companies."

Gravity Entertainment has produced several projects that have been branded in Hollywood as critically acclaimed independent films and has been represented for years at the Sundance & Cannes Film Festivals. Gravity Entertainment currently has four motion pictures in pre-production. For more information about Gravity Entertainment, visit www.gravity-entertainment.com.

Gravity Motorsports will announce team executives, drivers and sponsors in the coming weeks.