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Feb

Execution of lease agreements for Cinema City multiplexes in Cluj, Brasov and Constanta, Romania and termination agreement for the Cinema City multiplex in Targoviste, Romania – ... (23 February 2009)

The Board of Managing Directors of Cinema City International N.V. with its corporate seat in Amsterdam, The Netherlands (the “Company”):

(1) announces that the company Cinema City Romania SRL, a wholly-owned subsidiary of the Company incorporated and existing under the laws of Romania, executed three lease agreements (“Agreements”) with the developer companies, incorporated and existing under the laws of Romania, from the TriGranit group (“Companies”). The Agreements have been concluded in order to operate cinema multiplexes in the shopping centers developed by the Companies. Details of Agreements are as follows:

City                                           Cluj
Shopping center                    Riverfront City Center
Developer company              SC DNP NVEST SRL
Approx. surface to be            2 700
leased in sq m
No of screens                        8
Approx. no of seats               1 800
Planned opening date         2 q 2010

City                                           Brasov
Shopping center                    Polus Center Brasov
Developer company             SC Terrapaz Development SRL
Approx. surface to be           3 900
leased in sq m
No of screens                       12
Approx. no of seats              2 200
Planned opening date        1 q 2011

City                                          Constanta
Shopping center                   Polus Center Constanta
Developer company            SC Tripont Inwest SRL
Approx. surface to be          3 100
leased in sq m
No of screens                       8
Approx. no of seats              1 700
Planned opening date       2010


The Agreements have been concluded for ten years with three options of extending a lease term, each time for another five years, and contains standard provisions, typical for agreements of such kind. The Company will be required to pay a monthly rent on a market standards consisting of a fixed rent calculated on the basis of the leased area and the management fee for the benefit of the management company of each shopping mall.

Following the signature of the Agreements Cinema City will operate 34 multiplexes in Romania. The cinema in Riverfront City Center in Cluj will be the third multiplex of the Company in this city. Cinemas in Brasov and Constanta will be the first multiplexes in these cities.

See press release


(2) announces, in reference to the current report no 34/2008 dated 4 July 2008, that the company Cinema City Romania SRL, a wholly-owned subsidiary of the Company incorporated and existing under the laws of Romania, executed the termination agreement with the company SC Matrix Dynamics SA, a company incorporated and existing under the laws of Romania.

The terminated agreement provided for the lease of space by the Company to operate the multiplex in a shopping centre developed by SC Matrix Dynamics SA in the city of Targoviste, Romania. The multiplex was designed to have 6 screens and 1 100 seats. The approximate surface for lease was 1500 – 1800 sq m.