12.19.2005
CARMIKE CINEMAS CONTRACTS TO INSTALL 2,300 DIGITAL CINEMA
PROJECTION SYSTEMS FROM CHRISTIE/AIX
MORRISTOWN, N.J. and COLUMBUS,
GA., December 19, 2005 – Access
Integrated Technologies, Inc. (“AccessIT”) (AMEX: AIX)
and Carmike Cinemas, Inc. (“Carmike”) (NasdaqNM: CKEC)
jointly announced today that Carmike, the third
largest national movie theatre circuit has executed
a contract with AccessIT’s Christie/AIX subsidiary,
for the installation of up to 2,300 Digital Cinema projection
systems throughout the United States. With this agreement,
Carmike and Christie/AIX will begin installing 2K DCI-compliant
DLP Cinema® projectors. The rollout is scheduled to
begin in January, 2006 and to be completed by October
31, 2007.
“We are proud to have the opportunity
to work with Carmike, not only one of the nation’s largest
theatre chains, but also one of the most forward-looking,”
commented Bud Mayo, President and Chief Executive Officer
of AccessIT. “It would be
hard to exaggerate the significance of today’s development
as a major milestone for the industry and for our respective
companies, and we are privileged to be a partner in
this important undertaking. Working together, Carmike,
Christie and AccessIT are
committed to elevating the movie going experience and
to bringing the many benefits of digital to audiences
in the months ahead.”
Michael W. Patrick, Chairman of
the Board, President and CEO of Carmike Cinemas, Inc.
added, “We are eagerly looking forward to launching
this rollout with Christie/AIX. Digital Cinema is the
future of exhibition, combining eye-popping image quality
that will dazzle moviegoers with unmatched programming
flexibility. This flexibility will enable our company
to capitalize on new programming options such as 3-D,
live sporting events, and other alternative content
while continuing to present traditional movies with
the best picture and sound possible for even the longest
of runs.”
"The contract with Carmike
is truly a tipping point for Digital Cinema. As a progressive
company with clear vision, Carmike has identified Digital
Cinema as the next growth and revenue opportunity for
their business. We are very pleased that they have chosen
DLP Cinema® from Christie, a proven technology, to bring
the digital experience to the heartland of America,"
stated Jack Kline, President and COO, Christie USA.
"The collaborative efforts of DCI, the studios
and the exhibition community confirm that Digital Cinema
is no longer just a dream--it's real, and it's here
to stay."
AccessIT's
Christie/AIX unit serves as the funding vehicle and
administrator for the company's 4,000-screen digital
cinema rollout plan expanded significantly from the
total originally announced in June 2005. Christie/AIX
will act as the financing intermediary between content-owners
-- major studios and independent distributors, among
others -- and exhibitors who will receive turnkey, DCI-compliant
Digital Cinema systems including 2K projectors and related
hardware and software. Bear, Stearns & Co. acts
as the financial advisor to AccessIT.
A series of key developments preceded
today’s announcement; notably, formal contracts with
The Walt Disney Company, Twentieth Century Fox, Universal
Pictures, Sony Pictures Entertainment and most recently
DreamWorks SKG. Initial deployments in the plan began
in late October in theatres in Detroit, Michigan, owned
by Emagine Entertainment, Inc. and at multiple locations
in San Diego and Riverside County (CA) multiplexes owned
by Ultrastar Theaters, Inc. Completion on these first
150 systems is anticipated before the close of the year.
In a related development, to provide
equity funding for this large-scale deployment, AccessIT
intends to move forward with the filing of a common
stock shelf registration in the very near future.
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. For more information on Christie's cinema
solutions and to find a theatre with Christie DLP Cinema®
projectors, visit www.christiedigital.com.
Carmike Cinemas,
Inc. is a premiere motion picture exhibitor
in the United States with 307 theatres and 2,469 screens
in 37 states, as of September 30, 2005. Carmike's focus
for its theatre locations is small to mid-sized communities
with populations of fewer than 100,000. Carmike's common
stock is traded on the NASDAQ National Market under
the ticker symbol "CKEC." For more information
visit Carmike's website, www.carmike.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.
This press release is not an offer
to sell or a solicitation of an offer to buy, nor shall
there be any sale of, securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities
laws of any such state or jurisdiction.
# # #
Suzanne Tregenza Moore
Access Integrated Technologies, Inc.
973.290.0080
smoore@accessitx.com
www.accessitx.com
Michael Glickman
The Dilenschneider Group
(212) 922-0900
Dorina Belu
Christie
519.749.3323
dorina.belu@christiedigital.com
www.christiedigital.com
Judy Russell
Carmike Cinemas, Inc.
706.576.2737
jrussell@carmike.com
www.carmike.com
|