Carmike Cinemas Signs Build-to-Suit Agreement with Anthony Properties to Open New State-of-the-Art 13-Plex Theatre in

  Carmike Cinemas Signs Build-to-Suit Agreement with Anthony Properties to
  Open New State-of-the-Art 13-Plex Theatre in Montgomery, Alabama

Business Wire

COLUMBUS, Ga. & MONTGOMERY, Ala. -- January 23, 2013

Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema
and 3-D motion picture exhibitor, today announced the signing of a
build-to-suit agreement and long-term lease with Anthony Properties (Anthony),
a leading real estate development and investment firm. Anthony is constructing
a new 13-screen digital cinema entertainment complex that Carmike will
operate. The new facility is projected to open during the first half of 2014
and will be centrally located off Chantilly Parkway (Route 110) in Montgomery,
AL next to the Home Depot.

Jay Anthony, Principal of Dallas, TX-based Anthony Properties, developers of
the project, stated, “The top-tier retail, restaurant and commercial tenants
in the area and proximity to Auburn University’s Montgomery Campus make this
an ideal site for another Carmike Cinemas state-of-the-art theatre. Over the
past 25 years we have developed 40-plus properties for Carmike and are
delighted to work with them on what we believe is another exceptional location
in their growing footprint.”

The new 13-plex theatre will feature luxurious stadium seating for up to 2,800
guests in aggregate. The theatre will also showcase a cutting-edge “BIGD”
large format auditorium, Carmike’s critically acclaimed premium theatre
experience with a wall-to-wall and floor-to-ceiling 81-foot wide screen,
comfortable high back rocking luxury seats, retractable armrests, convenient
cup holders and seating for 600 patrons. The other 12 auditoriums will be
equipped with large, wall-to-wall screens, as well as high-quality DLP DIGITAL
projection and surround sound. Other components of the new theatre will
include an upscale lobby, multiple concession areas featuring Coca-Cola
Freestyle drink centers, and one-stop ticketing and concessions stations for
the convenience of all guests.

Carmike Cinemas President and Chief Executive Officer David Passman stated,
“Carmike continues actively expanding our growing circuit, on our way to 300
theatres and 3,000 screens through opportunistic, accretive acquisitions and
the addition of multiple new-build theatres in promising locations across
‘Hometown America.’ Alabama has become of one of our top-five states, with 13
theatres at year-end, including six properties we recently acquired from Rave
Review Cinemas last November. In addition to the Montgomery entertainment
complex, we have another theatre under construction in the Decatur, AL market
and will soon begin construction in Opelika, AL.”

About Carmike Cinemas (www.carmike.com)

Carmike Cinemas, Inc. is a U.S. leader in digital cinema and 3-D cinema
deployments and one of the nation’s largest motion picture exhibitors. As of
September 30, 2012, Carmike had 232 theatres with 2,242 screens in 35 states.
Carmike’s digital cinema footprint reached 2,119 screens, including 208
theatres with 748 screens that are also equipped for 3-D. The circuit also
includes 14 “Big D” large format digital experience auditoriums, featuring
state-of-the-art equipment and luxurious seating. As “America’s Hometown
Theatre Chain,” Carmike’s primary focus for its locations is small to
mid-sized communities.

Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the federal securities laws. Statements that are not historical facts,
including statements about our beliefs, expectations and future performance,
are forward-looking statements. Forward-looking statements include statements
preceded by, followed by or that include the words, “believes,” “expects,”
“anticipates,” “plans,” “estimates,” “seeks” or similar expressions. Examples
of forward-looking statements in this press release include the Company’s
expectations regarding circuit expansion, additional acquisition
opportunities, long-term stakeholder value, and additional operating gains,
and beliefs about liquidity and financial flexibility. Forward-looking
statements are only predictions and are not guarantees of performance. These
statements are based on beliefs and assumptions of management, which in turn
are based on currently available information. The forward-looking statements
also involve risks and uncertainties, which could cause actual results to
differ materially from those contained in any forward-looking statement. Many
of these factors are beyond our ability to control or predict. Important
factors that could cause actual results to differ materially from those
contained in any forward-looking statement include, but are not limited to:
general economic conditions in our regional and national markets; our ability
to comply with covenants contained in our senior secured credit agreement and
the indenture governing our 7.375% Senior Secured Notes due 2019; our ability
to operate at expected levels of cash flow; financial market conditions
including, but not limited to, changes in interest rates and the availability
and cost of capital; our ability to meet our contractual obligations,
including all outstanding financing commitments; the availability of suitable
motion pictures for exhibition in our markets; competition in our markets;
competition with other forms of entertainment; and other factors, including
the risk factors disclosed in our Annual Report on Form 10-K for the year
ended December31, 2011 and our Quarterly Report on Form 10-Q for the quarter
ended March 31, under the caption “Risk Factors.” We believe these
forward-looking statements are reasonable; however, undue reliance should not
be placed on any forward-looking statements, which are based on current
expectations. Further, forward-looking statements speak only as of the date
they are made, and we undertake no obligation to update publicly any of them
in light of new information or future events.

Contact:

JCIR – Investor Relations/Corporate Communications
Robert Rinderman or Jennifer Neuman
212-835-8500 or ckec@jcir.com
or
Carmike Cinemas, Inc.
Richard B. Hare, 706-576-3416
Chief Financial Officer