Carmike Cinemas to Acquire Three State-of-the-Art Theatres Totaling 52 Screens from Cinemark

  Carmike Cinemas to Acquire Three State-of-the-Art Theatres Totaling 52
  Screens from Cinemark

Business Wire

COLUMBUS, Ga. -- July 18, 2013

Carmike Cinemas, Inc. (NASDAQ: CKEC) today announced the signing of a
definitive agreement to purchase three digital entertainment complexes in
Louisville, KY (Stonybrook 20), Voorhees, NJ (Ritz Center 16) and Hickory
Creek, TX (Hickory Creek 16) with an aggregate of 52 screens from Cinemark
USA, Inc., a wholly-owned subsidiary of Cinemark Holdings, Inc. (NYSE: CNK).
Terms of the agreement were not disclosed. The transaction is expected to
close during the third quarter, subject to customary closing conditions.

Carmike Cinemas President and Chief Executive Officer David Passman stated,
“Following up Carmike’s successful 251-screen Rave acquisition late last year
with an additional purchase of three cutting-edge theatre locations from
Cinemark is another important step for our organization as we move toward our
3,000 screen target. We continue to actively pursue attractive transactions as
we expand our growing circuit.”

All of the auditoriums are state-of-the-art, featuring full digital projection
and stadium seating. Approximately one-third of the screens are 3-D-capable
and Carmike will be adding its eighth IMAX® large format screen, which is
located at the Stonybrook 20 in Louisville. Combined with its 19 ^ Big D large
format digital experience screens, Carmike will operate 27 premium
large-format screens. Carmike is also pleased to be adding 36 screens to its
existing, long-term pre-show advertising arrangement with Screenvision. The
remaining 16 screens are currently on the Screenvision network.

About Carmike Cinemas

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
March 31, 2013, Carmike had 244 theatres with 2,464 screens in 35 states.
Carmike’s digital cinema footprint reached 2,369 screens, including 232
theatres with 869 screens that are also equipped for 3-D. The circuit also
includes 19 “BIG D” large format digital experience auditoriums, featuring
state-of-the-art equipment and luxurious seating and 7 IMAX^® auditoriums. 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 and other written or oral statements made by or on behalf
of Carmike contain 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” or similar expressions. Examples of
forward-looking statements in this press release include our expectations
regarding the closing of the transaction. 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: our ability to
achieve expected results from our strategic acquisitions, general economic
conditions in our regional and national markets; our ability to comply with
covenants contained in the agreements governing our indebtedness; 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; the effect of our leverage on
our financial condition; prices and availability of operating supplies; the
impact of continued cost control procedures on operating results; the impact
of asset impairments; the impact of terrorist attacks; changes in tax laws,
regulations and rates; financial, legal, tax, regulatory, legislative or
accounting changes or actions that may affect the overall performance of our
business and other factors, including the risk factors disclosed in our Annual
Report on Form 10-K for the year ended December 31, 2012 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
Robert Rinderman or Jennifer Neuman
Investor Relations/Corporate Communications
212-835-8500 or ckec@jcir.com
or
Carmike Cinemas, Inc.
Richard B. Hare, 706-576-3416
Chief Financial Officer
 
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