National CineMedia Announces Amendments to Existing Credit Facility and New Financing Commitments to Complete Merger with

  National CineMedia Announces Amendments to Existing Credit Facility and New
  Financing Commitments to Complete Merger with Screenvision

Business Wire

CENTENNIAL, Colo. -- July 3, 2014

National CineMedia, LLC (“NCM LLC”) and National CineMedia, Inc. (NASDAQ:
NCMI) (the “Company” or “NCM, Inc.”), the managing member and owner of 45.8%
of NCM LLC, announced today that NCM LLC has amended its senior secured credit
facility and that NCM, Inc. has obtained commitments to finance its merger
with Screenvision. The Company received committed financing with certain
existing NCM LLC revolving credit facility lenders for an aggregate $250
million term loan for the Screenvision merger. The Company previously
announced its plans to merge with Screenvision for $375 million ($225 million
in cash and $150 million in shares of NCM, Inc. common stock). The NCM, Inc.
term loan is expected to finance the $225 million portion of the merger
consideration that will be paid in cash, along with fees and expenses incurred
in connection with the term loan and merger. The merger is subject to
regulatory approvals and the satisfaction of other customary closing
conditions.

On June 18, 2014, NCM LLC expanded the borrowing capacity of its revolving
credit facility by $25 million, to a total of $149 million. In addition, on
July 2, 2014, NCM LLC entered into an amendment to its senior secured credit
facility that extends the maturity date of $135 million of NCM LLC’s revolving
credit facility by two years to November 26, 2019 (to correspond to the final
maturity of the NCM LLC existing $270 million term loan maturity date). The
maturity date on the remaining $14 million of the revolving credit facility
continues to be December 31, 2014. The amended senior secured credit facility
also contains certain conditional amendments that will only be effective upon
the contribution of the Screenvision assets and NCM, Inc. debt to NCM LLC,
which is subject to approval by the NCM, Inc. Board of Directors and the
members of NCM LLC.

Additional details regarding the amendment to the senior secured credit
facility and the commitment letter will be available in the Company’s Current
Report on Form 8-K to be filed with the Securities and Exchange Commission on
or prior to July 9, 2014.

About National CineMedia, Inc.

National CineMedia (NCM) operates NCM Media Networks, a leading integrated
media company reaching U.S. consumers in movie theaters, online and through
mobile technology. NCM presents cinema advertising across the nation’s largest
digital in-theater network, comprised of theaters owned by AMC Entertainment
Inc. (NYSE: AMC), Cinemark Holdings, Inc. (NYSE: CNK), Regal Entertainment
Group (NYSE: RGC) and other leading regional theater circuits. NCM’s theater
advertising network covers 183 Designated Market Areas® (49 of the top 50) and
includes over 19,800 screens (approximately 19,000 connected to our Digital
Content Network). During 2013, approximately 710 million patrons (on an
annualized basis) attended movies shown in theaters in which NCM currently has
exclusive cinema advertising agreements in place. NCM Digital offers
360-degree integrated marketing opportunities in combination with cinema,
encompassing 48 entertainment-related websites, online solutions and mobile
applications.

Forward Looking Statements

This press release contains various forward-looking statements that reflect
management’s current expectations or beliefs regarding future events,
including the timing and completion of the merger with Screenvision and the
closing of the NCM, Inc. term loan and amendments to NCM LLC’s senior secured
credit facility that are conditional upon the closing of the Screenvision
merger. Investors are cautioned that reliance on these forward-looking
statements involves risks and uncertainties. These risks and uncertainties
include receipt of regulatory approval and satisfaction of other conditions
for the merger to close; as well as the other risks detailed from time to time
in the Company's Securities and Exchange Commission filings, including the
“Risk Factor” section of the Company’s Annual Report on Form 10-K for the year
ended December 26, 2013.

Contact:

National CineMedia, Inc.
INVESTORS:
David Oddo, 800-844-0935
investors@ncm.com
or
MEDIA:
Amy Jane Finnerty, 212-931-8117
amy.finnerty@ncm.com
 
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