Stratus Receives Exclusive Contract for Film Festival in Perugia, Italy

Stratus Media Group, Inc. (OTCBB:SMDI), a live entertainment company, announced today that Stratus has executed an exclusive ten-year agreement as the owner, operator and holder of all rights of the International Film Festival in Perugia, Italy, in partnership with the region of Umbria, the Province of Perugia and the Municipality of Perugia. The Perugia International Film Festival is scheduled to have its preliminary launch in the Fall of 2010.

Wladimiro Boccali, Mayor of Perugia stated "We are extremely pleased today to announce the birth of an International Film Festival in our city of Perugia. Our partnership with Stratus Media Group represents another important step in consolidating our relationships with the State of California and the United States. This festival will provide us with as an important source of local growth and will also enhance Perugia's image globally. We look forward to working with Mr. Emanuele Rossi, who will be the President of the festival."

"Since the beginning steps in establishing this Festival, I have been greatly impressed by the support of the governments of Perugia,” stated Emanuele Rossi, Vice President of International Business Development, Stratus Media Group – Europe. "In addition, significant corporate support has already been received from local businesses. This support will be combined with Stratus’ event experience, corporate relationships and access to talent within the live entertainment industry to develop the Perugia Film Festival to international recognition. Personally I take this new nomination as President of the Festival as a matter of great pride and I am committed to delivering outstanding results to all those who believe in the great potential of this new event.”

"After personally experiencing the beauty and charm of Perugia, meeting with the local and international businesses, and with government officials who all share our vision and are eager to carefully construct a world-class event, I am confident that we will establish a premier film festival in Perugia with a strong worldwide reputation,” said Paul Feller, President of Stratus Media Group.

About Stratus Media Group, Inc.

Incorporated in November of 1998, Santa Barbara based-Stratus Media Group is an owner, operator and marketer of live entertainment and sporting events. The company is primarily focused on internal growth and acquisitions within the live entertainment-related market, including action sports, automotive shows, college sports, food events, motor sports, music concerts and festivals, running events, diversified media marketing, trade shows and expositions, and talent management. In addition, the company intends to expand its consumer rewards marketing and redemption activities through its Stratus Rewards Visa White Card -- providing exclusive redemption benefits to its cardholders in the form of VIP event access, luxury trips, private jet travel, luxury automobiles, high-end merchandise and other rewards for specified levels of use. For more information on Stratus Media Group, Inc., go to www.stratusmediagroup.com

About Perugia, Italy

Perugia, capital of the Umbria region, lies at the geographic center of Italy and is one of Italy’s best kept secrets with its beautiful city and landscape. Home to Italy's best-known chocolate, Perugino, the city of Perugia is one of Italy’s best-preserved medieval cities and is known as the city of art and culture with its numerous museums, castles, cathedrals, art and artists. The area’s importance to the arts was solidified with High Renaissance painter Pietro Perugino and Renaissance master Raphael. Their activity in Perugia features many famous Frescos, including the Oddi Altar, which was painted in 1502-1504. Perugia is also home to Europe’s largest Jazz Festival, the Umbria Jazz and Sagra Musicale Umbra.

Forward Looking Statements

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