Regal Entertainment Group Completes Acquisition of Great Escape Theatres and Declares Special Cash Dividend of $1.00 per Share

  Regal Entertainment Group Completes Acquisition of Great Escape Theatres and
  Declares Special Cash Dividend of $1.00 per Share

Business Wire

KNOXVILLE, Tenn. -- November 29, 2012

Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor
owning and operating the largest theatre circuit in the United States, today
announced that it has completed the acquisition of Great Escape Theatres and
declared a special cash dividend of $1.00 per share of Class A and Class B
common stock.

Regal acquired a total of 25 theatres representing 301 screens at a
pre-synergy multiple of approximately 5.5 times cash flow for an aggregate
purchase price of $91 million in cash. The acquisition of the Great Escape
circuit will enhance Regal’s presence in Georgia, Illinois, Indiana, Kentucky,
Missouri, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee and West
Virginia. The transaction involved multiple sellers and the aggregate purchase
price includes repayment of the sellers’ debt and the assumption of working
capital and is subject to customary post-closing adjustments. The sellers will
also maintain an interest in the real property associated with seven of the
acquired theatres.

Additionally, Regal’s Board of Directors declared a special cash dividend of
$1.00 per Class A and Class B common share, payable on December 27, 2012, to
stockholders of record on December 11, 2012. Today’s announcements will not
affect the previously announced dividend of $0.21 per Class A and Class B
common share, payable on December 14, 2012, to stockholders of record on
December 5, 2012. Further, the Company intends to continue paying a regular
quarterly dividend for the foreseeable future at the discretion of the Board
of Directors depending on available cash, anticipated cash needs, overall
financial condition, loan agreement restrictions, future prospects for
earnings and cash flows as well as other relevant factors.

“The acquisition of Great Escape Theatres and the special dividend of $1.00
per share clearly demonstrate Regal’s commitment to delivering shareholder
value,” stated Amy Miles, CEO of Regal Entertainment Group. “We are extremely
pleased with the addition of over 300 high quality screens to our
industry-leading portfolio and expect the transaction to be immediately
accretive to both earnings and cash flow,” Miles continued.

Forward-looking Statements:
This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements included herein,
other than statements of historical fact, may constitute forward-looking
statements. Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the risk factors contained in the Company's 2011 Annual Report on
Form 10-K filed with the Securities and Exchange Commission on February 27,
2012. All forward-looking statements are expressly qualified in their entirety
by such factors.

About Regal Entertainment Group
Regal Entertainment Group (NYSE: RGC) operates the largest and most
geographically diverse theatre circuit in the United States, consisting of
6,607 screens in 521 locations in 37 states and the District of Columbia as of
October 25, 2012. The Company operates theatres in 43 of the top 50 U.S.
designated market areas. We believe that the size, reach and quality of the
Company's theatre circuit not only provide its patrons with a convenient and
enjoyable movie-going experience, but is also an exceptional platform to
realize economies of scale in theatre operations. Additional information is
available on the Company's Web site at www.REGmovies.com.

Contact:

Financial Contact:
Kevin Mead
Regal Entertainment Group
Vice President – Investor Relations and Planning
Kevin.Mead@regalcinemas.com
865-925-9685
or
Media Contact:
Ken Thewes
Regal Entertainment Group
Senior Vice President and
Chief Marketing Officer
865-925-9539
 
Press spacebar to pause and continue. Press esc to stop.