09.01.2005
Christie Digital Systems and Access Integrated Technologies’ Christie/AIX Subsidiary Advance Rollout With New Supply Agreement
- AccessIT and Christie Digital Extend Digital Cinema Framework Agreement -
MORRISTOWN, N.J. – September 1, 2005 – Access Integrated Technologies, Inc. (“AccessIT”) (AMEX: AIX) and Christie Digital Systems (“Christie”) announced today that AccessIT’s Christie/AIX subsidiary has entered into a Digital System Supply Agreement with Christie, further advancing the companies’ rollout plan. The Supply Agreement provides for the purchase by Christie/AIX of 2,500 Digital Cinema Projections Systems and related hardware. The initial 200-digital systems are to be ordered from Christie before September 30, 2005. The first 100 systems covered by this agreement have already been ordered by Christie/AIX.
In a related event, Christie and AccessIT have also amended their previous Digital Cinema Framework agreement. AccessIT and Christie originally entered a Digital Cinema Framework Agreement on June 21, 2005 that defined each firm’s commitment to a 2,500-screen Digital Cinema Rollout Plan. Among the various terms included in this Agreement was the option of either party to terminate the Agreement on August 31, 2005 if certain conditions were not met. Both companies have agreed to continue working towards completing the key aspects of the Framework Agreement, establishing a new date of September 30, 2005 for those conditions to be met.
AccessIT’s Christie/AIX unit serves as the funding vehicle and administrator for the AccessIT’s 2,500-screen Digital Cinema Rollout Plan announced in June 2005. Under the Plan, Christie/AIX will act as a financing intermediary between content owners – including major studios and independent distributors – and exhibitors who will receive turnkey, DCI-compliant Digital Cinema systems including 2K projectors and related hardware provided by Christie. AccessIT has already secured the capital funding for the initial 200 systems and is currently in late-stage contract discussion with several major Hollywood studios and national exhibitors. Contracts with these parties will precede the formal initiation of AccessIT’s plan.
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.
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.
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Company Contact:
Suzanne Tregenza Moore
AccessIT
55 Madison Avenue
Suite 300
Morristown, NJ 07960
973.290.0080
www.accessitx.com
Media Contact:
Joel Pomerantz or Michael Glickman
The Dilenschneider Group
212.922.0900 |
