Film Roman, Inc.
Ticker: ROMN 12020 Chandler Boulevard, Suite 200
Exchange: NASDAQ-National Market North Hollywood, California 91607
Industry: Service (818) 761-2544

Type of Shares:Common Shares Filing Date:5/17/96
U.S. Shares:3,300,000 Offer Date:9/30/96
Non-U.S. Shares:0 Filing Range:$10.00 - $12.00
Primary Shares:3,275,364 Offer Price:$10.00
Secondary Shares:24,636 Gross Spread:$0.70
Offering Amount: $36,300,000 Selling:$0.42
Expenses:$870,000 Reallowance:$0.10
Shares Out After:8,448,236

ManagerTierPhone
Donaldson, Lufkin & Jenrette Securities Corp.Lead Manager (212) 504-4525
Montgomery SecuritiesCo-manager (415) 627-2220

Auditor: Ernst & Young
Audited
Income
Latest
Unaudited
Income
Prior
Unaudited
Income
Balance
Sheet
12/31/95 6/30/96 6/30/95 6/30/96
Revenue:$34.34$13.72$13.36Assets:$26.98
Net Income:-$1.12-$1.71-$0.30Liabilities:$19.92
EPS:-$0.41-$0.35Equity:$7.06

Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year,
unaudited figures are partial year

Business Description
The company creates, develops, produces and distributes high quality, family-oriented animated television programming. Since the company was founded by Phil Roman in 1984, it has become the leading independent animation studio in North America, producing more animated series for broadcast on the U.S. television networks than any other independent animation studio for the 1996-97 television season. The company's productions include The Simpsons, Garfield & Friends, Bobby's World, Felix the Cat, Mighty Max, The Critic and The Mask. The company is currently producing eight animated series and two specials that will air on ABC, CBS, FOX and the USA Network, as well as in first-run syndication. The company has produced at least three series each season for the television networks since 1990. The company believes that it has a reputation within the entertainment industry as a reliable producer of high-quality animated programming, making it one of a select group of suppliers of animated programming to the television networks.

Use of Proceeds
The proceeds from the proposed offering will be used to pay accumulated unpaid dividends on redeemable preferred stock and convertible preferred stock; to redeem redeemable preferred stock; repay short term debt; fund production of animated programming and for general corporate purposes.

Last updated: 11/27/96

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