11.02.2005
ACCESS INTEGRATED TECHNOLOGIES ON TARGET TO
REACH YEAR-END GOAL OF 150 INSTALLED SYSTEMS
- Disney, Fox, Universal
Agreements Drive Digital Cinema Rollout
Morristown, NJ, November
2, 2005 – Access Integrated Technologies, Inc. ("AccessIT")
(AMEX:AIX) and
Christie Digital Systems (“Christie”) said
today their target for installing the first 150 digital
cinema projection systems under their 4,000-screen national
rollout plan is on schedule for completion by December
31, 2005.
Based on recent distribution agreements signed with
Disney, Twentieth Century Fox and Universal, the company
has begun the initial deployment of systems in theatres
in Detroit, Michigan owned by Emagine Entertainment,
Inc. This will be followed shortly by installations
at multiple locations in San Diego and Riverside County
(CA) multiplexes owned by Ultrastar Theaters, Inc.
“Both of these regional chains have been partners with
AccessIT
since its purchase of Boeing Digital Systems in March
2004, making them excellent partners for this initial
phase of the rollout. They have been involved with digital
cinema for nearly two years now and have been anxious
to deploy systems across their circuits. As soon as
we had the studio agreements in place, they were ready
to begin deploying the systems in their theatres,” stated
Bud Mayo, Chairman and Chief Executive Officer of AccessIT.
Jack Kline, President and COO of Christie Digital Systems
USA, Inc., commented: "Our initial focus has been
on ensuring that the Hollywood studios will provide
a consistent flow of digital content to exhibitors.
As more studios offer titles digitally, the need to
retrofit theatres to accommodate and manage multiple
projectors is minimized. I’m delighted that Emagine
and Ultrastar recognize the long-term business advantages
of digital cinema, as well as the benefit to movie goers.”
As advanced negotiations continue with several national
and regional exhibition chains, Christie/AIX expects
Emagine and Ultrastar Theaters, Inc. to deploy digital
cinema systems throughout their entire regional circuits,
totaling approximately 148 screens. These screens are
in addition to AccessIT’s
own Pavilion Digital Showcase nine-plex in Brooklyn,
New York, where five digital projectors have been operating
since May and four more are planned. AccessIT
will announce future exhibitor agreements as they are
signed.
In late June 2005, AccessIT
and Christie announced details of their digital cinema
rollout plan, providing the first economically sound
framework for advancing Hollywood’s on-going transition
to digital cinema. Designed to address the needs of
studios and exhibitors both large and small, the plan
is based on a fundable business model for the purchase
of DCI-compliant projection equipment at nominal cost
to exhibitors, supported by a steady supply of digital
content for the new hardware from the studios.
Support from Hollywood’s major studios enabled AccessIT
to expand its total planned installations from 2,500
to 4,000 screens. Disney, Fox and Universal have agreed
to help finance exhibitors’ transition to digital technology
by paying virtual print fees to Christie/AIX for each
film projected on Christie/AIX-funded hardware. The
company is also in late-stage negotiations with a number
of other studios and content distributors for their
participation in the plan.
“Over the past four months, AccessIT
and Christie have been working diligently
toward obtaining first-of-their-kind commitments to
digital cinema from the major Hollywood studios -- an
essential element of our groundbreaking digital cinema
rollout strategy. The entertainment community’s response
to our plan has been extremely encouraging and we are
excited to have now begun preparations for the first
series of installations as planned. Based on the unprecedented
level of interest in our plan expressed by both regional
and national exhibitors at ShowEast, this experience
will be invaluable going forward as we continue with
our deployments next year,” added Mayo.
Under the Christie/AIX funding plan, participating
exhibitors will receive complete digital cinema systems
at no cost other than a project management and commissioning
fee and a standard 10-year maintenance contract with
Christie similar to existing film maintenance agreements.
The Christie/AIX-funded deployment of Christie DLP Cinema®
projectors also includes media players and a central
“library” server plus two-way satellite communications
and data storage equipment. The central servers feature
AccessIT’s
unique vendor-neutral Theater Command Centre (“TCC”)
software, which enables all digitally-equipped screens
in a multiplex to be networked, simplifying theater
operations through centralized content management, scheduling,
and reporting.
Access Integrated Technologies, Inc. (AccessIT)
is an industry leader in offering a fully managed storage
and electronic delivery service for owners and distributors
of digital content to movie theaters and other venues.
Supported by its robust platform of fail-safe Internet
data centers, AccessIT
is able to leverage the market-leading role of its Theatrical
Distribution System (TDS) with its innovative digital
delivery capabilities and in-theatre software systems
to provide the highest level of technology available
to enable the emerging Digital Cinema industry to transition
from film without changing workflows. For more information
on AccessIT,
visit www.accessitx.com.
Christie is a leader in visual solutions
for world-class organizations, offering diverse applications
for business, entertainment, and industry. A leading
innovator in film projection since 1929 and a pioneer
in projection systems since 1979, Christie has established
a global reputation as a total service provider and
the world's single source manufacturer of a variety
of display technologies and solutions. Christie offers
comprehensive solutions for cinema, large audience venues,
control rooms, business presentations, training facilities,
3D and Virtual Reality, simulation and education as
well as industrial and government environments. Christie
solutions are used in over 75,000 locations worldwide,
including more than 10,000 projectors and displays networked
with ChristieNET™ networking devices. For more information
on Christie's cinema solutions and to find a theatre
with Christie Digital Cinema projectors, visit www.christiedigital.com.
Safe Harbor Statement
Investors and readers are cautioned that certain statements
contained in this document, as well as some statements
in periodic press releases and some oral statements
of AccessIT
officials during presentations about AccessIT,
along with AccessIT
's filings with the Securities and Exchange Commission,
including AccessIT 's registration statements, quarterly reports on Form
10-QSB and annual report on Form 10-KSB, are "forward-looking''
statements within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act''). Forward-looking
statements include statements that are predictive in
nature, which depend upon or refer to future events
or conditions, which include words such as "expects'',
"anticipates'', "intends'', "plans'',
“could”, “might”, "believes'', “seeks”, "estimates''
or similar expressions. In addition, any statements
concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions,
which may be provided by AccessIT’s
management, are also forward-looking statements as defined
by the Act. Forward-looking statements are based on
current expectations and projections about future events
and are subject to various risks, uncertainties and
assumptions about AccessIT,
its technology, economic and market factors and the
industries in which AccessIT
does business, among other things. These statements
are not guarantees of future performance and AccessIT
undertakes no specific obligation or intention to update
these statements after the date of this release.
DLP Cinema® is a registered trademark of Texas Instruments
Inc.
# # #
Suzanne Tregenza Moore
Access Integrated Technologies, Inc.
973.290.0080
smoore@accessitx.com
www.accessitx.com
Dorina Belu
Christie
519.749.3323
dorina.belu@christiedigital.com
www.christiedigital.com
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