JOINT STATEMENT BY THE ANSEL ADAMS PUBLISHING RIGHTS TRUST, RICK NORSIGIAN AND PRS MEDIA PARTNERS, LLC REGARDING SETTLEMENT OF LITIGATION

FOR IMMEDIATE RELEASE

San Francisco and Los Angeles, California

March 14, 2011

On August 23,2010, The Ansel Adams Publishing Rights Trust filed a civil complaint in the United States District Court for the Northern District of California against PRS Media Partners, LLC and Rick Norsigian. On December 28, 2010, Rick Norsigian and PRS Media Partners filed a Counterclaim against the Trust in the same court.

The parties deny the validity of the claims brought against them. PRS Media and Norsigian believe that sixty five glass plate negatives purchased by Rick Norsigian were created by Ansel Adams, and prepared a report they believe authenticated the Negatives as being created by Ansel Adams. The Trust disputes the conclusions of the report and that the Negatives were created by Ansel Adams.

The parties have now agreed to resolve these disputes and have entered into a┬áconfidential settlement agreement in which each side assumes its own costs and fees in connection with the claims. Under said agreement, Rick Norsigian and PRS Media agree to not use Ansel Adams’ name or likeness or the ANSEL ADAMS trademark in connection with the sales, promotion or advertisement of negatives, prints, posters, or other merchandise based on negatives. Norsigian and PRS Media may continue to sell negatives, prints, posters and other merchandise associated with negatives, subject to a disclaimer approved by The Trust, and provided they do so in a manner consistent with state and federal law. Further, both parties have agreed not to make any defamatory statements about the other or unlawfully interfere in each other’s businesses. As a result of the agreement, the parties today submitted a joint request asking the Court to dismiss the complaint and counterclaim without prejudice.

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