RHIE Rhi Entertainment (MM)

Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/rhientertainment/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of RHI Entertainment, Inc. (“RHI Entertainment” or the “Company”) (Nasdaq:RHIE) pursuant and/or traceable to the Company’s initial public offering (the “IPO” or the “Offering”) on or about June 19, 2008, seeking to pursue remedies under the Securities Act of 1933 (the “Securities Act”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this Class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/rhientertainment/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges RHI Entertainment and certain of its executives with violations of the Securities Act. RHI develops, produces, and distributes new made-for-television (“MFT”) movies, mini-series, and other television programming worldwide. The Company also produces new episodic series programming for television.

On or about June 13, 2008, RHI filed with the Securities and Exchange Commission (“SEC”) a Form S-1/A Registration Statement (the “Registration Statement”) for the IPO. On or about June 19, 2008, the Prospectus (the “Prospectus”) with respect to the IPO, which forms part of the Registration Statement, became effective and, including the exercise of the over-allotment, more than 13.5 million shares of RHI’s common stock were sold to the public, thereby raising more than $189 million.

The complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company’s financial condition, business and prospects. According to the complaint, the description of the Company’s business in the Registration Statement created the materially misleading impression that at the time of the IPO the Company had orders for 40 MFT movies and mini-series which had been paid for, were in production and would be delivered in the later half of the year. The complaint further alleges that these statements were materially false and misleading because defendants failed to disclose that, given the declining state of the credit markets and other negative factors then impacting the Company’s business, the Company would not be able to complete 40 MFT movies and miniseries in 2008.

Plaintiff seeks to recover damages on behalf of all purchasers of RHI Entertainment common stock during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.

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