Carmike Cinemas Completes Three Theatre, 52 Screen Acquisition from Cinemark

  Carmike Cinemas Completes Three Theatre, 52 Screen Acquisition from Cinemark

Business Wire

COLUMBUS, Ga. -- August 16, 2013

Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema
and 3-D motion picture exhibitor, today announced the closing of its
previously announced purchase of three state-of-the-art digital entertainment
complexes totaling 52 screens in Louisville, KY (Stonybrook 20), Voorhees, NJ
(Ritz Center 16) and Hickory Creek, TX (Hickory Creek 16) from Cinemark USA,
Inc., a wholly owned subsidiary of Cinemark Holdings, Inc. (NYSE: CNK).
Financial terms of the transaction were not disclosed.

All 52 auditoriums feature full digital projection and stadium seating.
Approximately one-third of the screens are 3-D-compatible and Carmike added an
eighth IMAX® large format screen to its footprint, at the Stonybrook 20 in
Louisville. Combined with its 19 ^ Big D large format digital experience
screens, Carmike now operates 27 premium large format screens. This
transaction also added 36 screens to the Company’s long-term pre-show
advertising arrangement with Screenvision.

Carmike Cinemas President and Chief Executive Officer David Passman said, “We
are pleased to add these quality assets to our growing circuit. This
transaction further underscores our commitment to increasing theatre and
screen count through accretive acquisitions.”

About Carmike Cinemas (www.carmike.com)

Carmike Cinemas, Inc. is a U.S. leader in digital cinema, 3-D cinema
deployments and one of the nation’s largest motion picture exhibitors. As of
June 30, 2013, the Company had 245 theatres with 2,476 screens in 35 states,
with a digital footprint of 2,373 screens, including 227 locations with 940
screens also equipped for 3-D. The circuit includes 19 “Big D” large format
digital experience auditoriums, featuring state-of-the-art equipment and
luxurious amenities, as well as 8 IMAX® auditoriums. As “America’s Hometown
Theatre Chain,” Carmike’s primary focus is small to mid-sized community
locations.

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