LIONS GATE ENTERTAINMENT CORP. RAISES US$60 MILLION IN
                 GROSS PROCEEDS THROUGH THE PRIVATE PLACEMENT OF
                      CONVERTIBLE SENIOR SUBORDINATED NOTES


VANCOUVER, BC, and MARINA DEL REY, CA, December 4, 2003 -- Lions Gate
Entertainment Corp. (AMEX and TSX: LGF) ("Lions Gate") today announced that it
raised US$50 million in gross proceeds through a private placement of 4.875%
convertible senior subordinated notes due 2010 of its subsidiary Lions Gate
Entertainment Inc. The placement agents have also exercised their option to
place an additional US$10,000,000 aggregate principal amount of notes. The
option closing is scheduled for December 8, 2003.

The notes are convertible into Lions Gate's common shares at a conversion ratio
of 185.0944 shares per US$1,000 principal amount of notes and contain certain
redemption and repurchase rights. Lions Gate is guaranteeing the notes.

Lions Gate may use a portion of the net proceeds of the private placement to
finance a portion of the purchase price of Artisan Entertainment, and if the
Artisan acquisition does not occur and notes remain outstanding after a special
repurchase or redemption, may be used for repayment of existing indebtedness and
for general corporate purposes. If the Artisan acquisition does occur, Lions
Gate may use a portion of the net proceeds to repurchase outstanding common
shares and preferred shares.

In connection with the placement, no financial, operating or other confidential
information about Artisan Entertainment, or a combined Lions Gate and Artisan
Entertainment company, was provided to either the placement agents for Lions
Gate or to the investors who acquired the notes. Lions Gate is not offering
holders of the notes any rescission rights based upon its public disclosure of
this information.

Neither the convertible notes nor the shares issuable upon conversion have been
registered under the Securities Act of 1933, as amended, or any state securities
laws or qualified under any Canadian securities laws and, until so registered or
qualified as applicable, may not be offered or sold in the United States or any
state or Canada absent registration or an applicable exemption from registration
and prospectus requirements as applicable. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.

                                    * * * * *


                             www.lionsgatefilms.com

AMEX AND TSX: LGF


This press release contains "forward-looking statements" within the meaning of
the U.S. federal securities laws. The forward-looking statements in this press
release involve risks and uncertainties that could cause actual results to
differ from those expressed in or implied by the statements herein. The
potential risks and uncertainties include risk factors set forth in Lions Gate's
public filings with the Securities and Exchange Commission. Lions Gate
undertakes no obligation to release publicly the result of any revisions to
these forward-looking statements that may be made to reflect any future events
or circumstances.

For further information, contact:

Peter D. Wilkes
310-314-9515
pwilkes@lgecorp.com