EXHIBIT 99.1
CARMIKE CINEMAS CONTRACTS TO INSTALL 2,300 DIGITAL CINEMA PROJECTION SYSTEMS
FROM CHRISTIE/AIX
Monday December 19, 8:00 am ET
MORRISTOWN, N.J. and COLUMBUS, Ga., Dec. 19 /PRNewswire-FirstCall/ -- Access
Integrated Technologies, Inc. ("AccessIT") (Amex: AIX - NEWS) and Carmike
Cinemas, Inc. ("Carmike") (Nasdaq: CKEC - NEWS) 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(R) 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(R) 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 HTTP://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(R) projectors,
visit HTTP://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, HTTP://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.
DLP Cinema(R) is a registered trademark of Texas Instruments Inc.
Contact:
Suzanne Tregenza Moore Michael Glickman
AccessIT The Dilenschneider Group
55 Madison Avenue 212.922.0900
Suite 300
Morristown, NJ 07960
973.290.0080
HTTP://WWW.ACCESSITX.COM
Dorina Belu
Christie
519.749.3323
DORINA.BELU@CHRISTIEDIGITAL.COM
HTTP://WWW.CHRISTIEDIGITAL.COM
Judy Russell
Carmike Cinemas, Inc.
706.576.2737
JRUSSELL@CARMIKE.COM
HTTP://WWW.CARMIKE.COM