June 9, 1995

UNIVERSAL CITY FLORIDA, CINEPLEX ODEON TO BUILD FLORIDA MEGAPLEX THEATER

ORLANDO, Fla. -- Cineplex Odeon Corp., in conjunction with Universal Studios Florida, which is a joint venture between MCA Inc. and The Rank Organisation PLC, Thursday announced plans to build a huge Central Florida megaplex theater, to be located at Universal City Florida.

The 16-screen, 5,000 seat, 100,000 square-foot megaplex, part of Universal's multi-billion dollar expansion in Orlando, will be a multidimensional out-of-home entertainment experience. With state-of-the-art projection and sound systems, movie aficionados will be treated to high-quality movie sensations. Featured in the grand megaplex will not only be popular, traditional movie fare, but also a selection of culinary delights.

Universal City Florida, when completed, will be a world-class entertainment destination resort, expected to attract tens of millions of visitors annually.

Encompassing over 800 acres, Universal City Florida will include Universal Studios Florida, which opened in 1990, an additional theme park named Universal's Islands of Adventure, an entertainment complex, five themed hotels, expanded motion picture and television production facilities, professional championship golf and tennis venues and more than 300,000 square feet of convention and meeting space.

Cineplex Odeon's megaplex theater will be strategically located in the 12-acre entertainment complex which will feature live music, dance and comedy venues, as well as specialty restaurants, themed bars, shops and cafes. The entertainment complex will be situated between Universal Studios Florida and the Islands of Adventure. An 18,000-car parking structure and connecting pedestrian mover will service these venues.

Cineplex Odeon President and CEO Allen Karp stated, "Cineplex Odeon Corporation is looking forward with great excitement to becoming an integral part of this exceptional venue and establishing a predominant presence in a major market which will attract both local residents and substantial tourist traffic. This fantastic new megaplex, to be located at Universal City Florida, is consistent with our strategic vision of facilitating our customers' needs well into the 21st century by developing state-of-the-art theaters within entertainment destination centres, thus providing a multidimensional out-of-home entertainment experience."

According to Ron Bension, chairman and CEO of MCA Recreation Services, "Cineplex Odeon's megaplex theater will be a movie buff's dream come true and is indicative of the leading edge entertainment to be offered in all elements of Universal City Florida. We intend to redefine the movie-going experience at these new Universal City Florida theaters."

Cineplex Odeon will manage and operate the megaplex theater, which is estimated to cost between $15 million and $18 million and expected to open in early 1998.

Cineplex Odeon owns and operates motion picture cinemas and related food service concessions in six Canadian provinces, 14 U.S. states and the District of Columbia. With headquarters in Toronto, Cineplex Odeon claims it is one of the largest exhibitors in North America and the largest exhibitor in Canada, with 1,617 screens in 354 North American locations.

Universal Studios Florida claims it is the number one movie studio and theme park in the world. It is a joint venture between MCA Inc. and The Rank Organisation PLC. The 444-acre studio attraction takes guests beyond the screen and into the world of television and film to "ride the movies," including such favorites as "JAWS," "Back To The Future...The Ride," and others.