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Cinema City: New Megaplex in Gdańsk

Cinema City International N.V. (“Cinema City”) plans to open a 19-screen “megaplex”, with an IMAX® cinema, in Gdańsk in late of 2009. It will be Cinema City’s second multiplex in Gdańsk.

“The Gdańsk project represents our sixth megaplex in Poland,” stated Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and Israel. Mr. Greidinger added, “We already operate four successful Megaplex theatre complexes in Warsaw, Łódź, Katowice and Poznań. In order to strengthen our position as the leading movie exhibitor throughout Poland, we intend to seek out additional interesting new megaplex projects in the largest cities where we already operate, such as Gdańsk and Kraków, while at the same time continuing to open Cinema City multiplex theatres in smaller, underpenetrated cities.”

Cinema City already operates an 8-screen multiplex in Gdańsk, which seats 1871.. The new project will be much larger: 19 movie screens plus an IMAX® theatre (providing viewers with a 3-D effect), for a total of 4,000 seats. The megaplex will be built in the new “young” district of the city known as “Gdańsk Młode Miasto”. Cinema City has signed a customary lease with Euro Mall Polska XVI Sp. z o.o. The lease is for 10 years and has an option to renew for an additional 15 years. The opening of the project is targeted for late of 2009.

Cinema City also plans to open another megaplex at 1st quarter of 2009 in Kraków, in the Bonarka shopping mall. This project will be similar in scale to the Gdańsk megaplex (20 screens , seating a total of 4000). Cinema City currently runs three successful multiplexes in Kraków, including one with an IMAX® theatre.