Cineplex Galaxy LP

Cineplex Galaxy LP

September 30, 2005 11:33 ET

Cineplex Galaxy Completes Sale Of 27 Theatres To Empire Theatres Limited

TORONTO, ONTARIO--(CCNMatthews - Sept. 30, 2005) - Cineplex Galaxy LP (TSX:CGX.UN) announced today that it has completed the sale of 27 theatres with 202 screens located in Ontario and Western Canada to Empire Theatres Limited based in Stellarton, Nova Scotia. The transaction, originally announced on August 22, 2005, is valued at approximately $83 million.

Ellis Jacob, President and CEO, Cineplex Galaxy said "our consent agreement with Canada's Commissioner of Competition necessitated the sale of these theatres in Ontario and Western Canada. We are very pleased to have accomplished this transaction so quickly." The acquisition of Famous Players was completed on July 22, 2005. Cineplex entered into a consent agreement with Canada's Commissioner of Competition in connection with the Famous Players acquisition requiring the sale of 34 theatres with a total of 282 screens located in Ontario, Western Canada and Quebec.

Stuart Fraser, President and CEO, Empire Theatres Limited said "this acquisition enables us to further expand our presence across Canada beyond our core group of theatres located in Atlantic Canada. We look forward to operating these theatres and introducing our Empire Theatre brand to Ontario and Western Canada. Each of theatres listed below will be renamed with the Empire brand and changes to these theatres exterior signage will be phased in over the coming months." Empire Theatres will also retain all staff currently employed in the theatres as part of the purchase agreement.

Cineplex Galaxy also announced the transaction to sell the Fifth Avenue Cinemas to Festival Theatres Ltd of Vancouver was completed today.

A complete listing of the theatres that have been sold is attached to this press release.

About Cineplex Galaxy LP:

Cineplex Galaxy LP owns, operates or has an interest in 130 theatres with 1,267 screens (after giving effect to the 7 theatres and 80 screens to be divested pursuant to a consent agreement with the Canadian Commissioner of Competition) and is the largest motion picture exhibitor in Canada. Headquartered in Toronto, Canada, the company operates theatres with the following six top-tier brands: Cineplex Odeon, Coliseum, Colossus, Famous Players, Galaxy and Silver City. Proudly Canadian, Cineplex Galaxy Income Fund, which owns approximately 50.5% of Cineplex Galaxy LP, is a public company traded on the Toronto Stock Exchange under Cineplex Galaxy Income Fund (symbol CGX.UN). More information can be found at or at

About Empire Theatres Limited:

Empire Theatres Limited is a 100% owned subsidiary of Empire Company Limited with its corporate headquarters in Stellarton, Nova Scotia. As of August 12, 2005, Empire Theatres currently operates 28 theatres (plus one drive-In) representing 177 screens in Atlantic Canada including one IMAX theatre in Halifax, together with an existing Joint Venture operating 4 theatres and 24 screens in Western Canada. As a result of this acquisition Empire Theatres will operate 59 theatres representing 403 screens across Canada. Empire Company Limited (TSX: EMP.NV.A) is a diversified Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses include food distribution, real estate, theatres and corporate investment activities. More information can be found at or

Ontario Region

Cineplex Odeon Showcase Famous Players Jackson Square
Cinemas Cinemas
3325 Harvester Rd. 2 King St. W.
Burlington, ON Hamilton, ON

Cineplex Odeon Orleans Town Centre SilverCity Kitchener
250 Centrum Blvd. 135 Gateway Park Dr.
Orleans, ON Kitchener, ON

Cineplex Odeon Exchange Centre Famous Players Kings College
Cinemas Cinemas
111 Albert St., 3rd Floor 262 King St. W.
Ottawa, ON Kitchener, ON

Cineplex Odeon Elgin Mills Cinemas Famous Players 8 Wellington
10909 Yonge St. 983 Wellington Rd. S.
Richmond Hill, ON London, ON

Cineplex Odeon Square One Cinemas SilverCity St. Catharines
100 City Centre Dr. Pen Centre Shopping Mall
Mississauga, ON 221 Glendale Ave.
St. Catharines, ON

Famous Players Capitol Theatre Famous Players Rideau Centre
223 Princess St. 50 Rideau St.
Kingston, ON Ottawa, ON

SilverCity North York
5095 Yonge St.
North York, ON

Western Region

Famous Players Capitol 6 Cineplex Odeon Granville
805 Yates St. 855 Granville St.
Victoria, BC Vancouver, BC

Cineplex Odeon Oakridge Famous Players Esplanade
601 - 650 West 41st Ave. 200 W. Esplanade
Vancouver, BC N. Vancouver, BC

SilverCity Guildford Coliseum Calgary
15051 - 101st Ave. 100 - 16061 Macleod Trail S.E.
Surrey, BC Calgary, AB

SilverCity Country Hills Famous Players Gateway 8
388 Country Hills Blvd. N.E. 2950 Calgary Trail S.
Calgary, AB Edmonton, AB

Cineplex Odeon Clareview Town Cineplex Odeon Edmonton City
Centre Centre Cinemas
4211 - 139th Ave. 10200-102nd Avenue
Edmonton, AB Edmonton, AB

Paramount Theatre Lethbridge Famous Players Westmount
Centre Cinemas
4th Ave. and 8th St. S. 2003 Westmount Shopping Centre
P.O. Box 520 111 Ave. and Groat Rd.
Lethbridge, AB Edmonton, AB

Famous Players Capitol 4 Cinemas Cineplex Odeon Grant Park
216 1st Ave. S. 1120 Grant Park Ave., Unit 127
Saskatoon, SK Winnipeg, MB

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