Global City Holdings
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Opening of Cinema City in Pardubice (15 January 2009)

Cinema City in Pardubice opens today
First Cinema City opening in 2009.

Cinema City International N.V. (“Cinema City”) is opening today a multiplex of 8 screens in Pardubice, the Czech Republic. It is the 5th Cinema City in the country.

Cinema in Pardubice is our first opening in 2009 which will lead many more to comesaid Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel.In 2008 our Czech operations noted 11% increase in admissions which proves that the Czech people like to see the films in the cinema. We are going to continue our development in this market.

The multiplex in Pardubice has 8 screens with 974 seats. In the Czech Republic Cinema City operates 5 multiplexes with 46 screens and over 8 800 seats. In 2008 the Company sold over 1,6 million tickets in the country, which is 11% more compared to 2007. The Company is also providing cinema advertising services through the company New Age Media and it is a distributor of films on DVDs (mainly for the Walt Disney company).

The new multiplex in Pardubice is in line with the beginning of digital projection for Cinema City in the Czech Republic. At first stage 4 projectors were installed (all with 3D capabilities) and more will come this year.

In 2007 the Czech operations represented 6,2% of the Group’s total revenues.

Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 62 multiplexes with 574 screens, in 6 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria and Israel). There are 45 more multiplexes under development, which will offer additional 475 screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.

The Cinema City group employs over 3,000 people in 6 countries.