Hollywood Entertainment Corporation Will Report First Quarter Results of Operations

PORTLAND, Ore.--()--April 13, 2004--Hollywood Entertainment Corporation (Nasdaq:HLYW), owner and operator of more than 1,920 Hollywood Video superstores and more than 600 Game Crazy specialty stores, today announced that it will report first quarter results of operations as part of its quarterly report on form 10-Q, which the Company plans to file with the Securities and Exchange Commission on or before April 23, 2004.

Significant Recent Development

On March 29, 2004, the Company announced the signing of a definitive merger agreement with an affiliate of Leonard Green & Partners, L.P. The closing of the transaction is subject to certain terms and conditions customary for transactions of this type, including shareholder approval, receipt of antitrust clearance and the completion of financing. The Company will solicit shareholder approval by means of a proxy statement, which will be mailed to Hollywood shareholders upon the completion of the required Securities and Exchange Commission filing and review process. As a result of this significant recent development, the Company will not be issuing a separate press release regarding first quarter results of operations, nor will it be hosting an investor call to review first quarter results of operations.

Contacts

Hollywood Entertainment Corporation
Alex Bond, 503-570-5667

Contacts

Hollywood Entertainment Corporation
Alex Bond, 503-570-5667