Access Integrated Technologies, Christie Commit for the Long Term in Groundbreaking Digital Cinema Framework Agreement
03 Oktober 2005 - 4:45PM
PR Newswire (US)
Reached New Milestone as Christie/AIX Subsidiary Orders Another 100
Units from Christie Digital Systems USA Inc. MORRISTOWN, N.J., Oct.
3 /PRNewswire-FirstCall/ -- Spurred by positive industry acceptance
of their groundbreaking digital cinema funding plan, Access
Integrated Technologies, Inc. ("AccessIT") (AMEX:AIX) and Christie
Digital Systems USA, Inc. ("Christie") today announced a
strengthened commitment to their Digital Cinema Framework, removing
provisions that had originally allowed either party to terminate
their agreement by September 30. The companies viewed the move as
an expression of their long-term pledge to the innovative template
they designed for funding a nationwide rollout of theater-based
digital systems. The modification reaffirms the AccessIT
subsidiary, Christie/AIX's plan to ultimately purchase and install
4,000 Christie DLP Cinema(R) projection systems and related
hardware. The first 100 systems covered by the agreement were
ordered from projector manufacturer Christie on August 5, 2005. The
second 100 were ordered last week, successfully reaching a
milestone in the planned deployment of 150 systems by December 31,
2005. Last month, Walt Disney Studios' Buena Vista Pictures
Distribution arm contracted with Christie/AIX to provide up to 100%
of all future feature film releases for digital distribution to
those 4,000 screens and pay Christie/AIX a virtual print fee for
each digital movie displayed on Christie/AIX's systems. Commenting
on today's announcement, AccessIT Chairman and CEO Bud Mayo said:
"This amendment underscores both parties' commitment to the rollout
plan and our mutual confidence in its success. We remain fully
committed to our timeline and confident that we will begin
deployments on schedule." Jack Kline, President and COO of Christie
Digital Systems USA, Inc., added: "We are making great strides with
distribution and exhibition and no longer need a contingency clause
in our agreement. We now know it is truly going to happen. All the
pieces of the puzzle are falling into place. We are making
significant progress in negotiating contractual commitments with
the top studios and expect the completion of exhibition agreements
very soon. There is no doubt that digital cinema is finally
shifting into high gear, driven by a practical, workable solution
that meets the needs of exhibitors and studios alike." Christie/AIX
is currently in negotiations with multiple major studios for
similar commitments and expects formal announcements to be made
shortly. Elsewhere, Christie/AIX is also continuing high-level
negotiations for installation of digital systems with several
regional and national exhibition chains to participate in its
deployment plan. Access Integrated Technologies, Inc. (AccessIT) is
an industry leader in offering a fully managed storage and
electronic delivery service for owners and distributors of digital
content to movie theaters and other venues. Supported by its robust
platform of fail-safe Internet data centers, AccessIT is able to
leverage the market-leading role of its Theatrical Distribution
System (TDS) with its innovative digital delivery capabilities and
in-theatre software systems to provide the highest level of
technology available to enable the emerging Digital Cinema industry
to transition from film without changing workflows. For more
information on AccessIT, visit http://www.accessitx.com/. Christie
is a leader in visual solutions for world-class organizations,
offering diverse applications for business, entertainment, and
industry. A leading innovator in film projection since 1929 and a
pioneer in projection systems since 1979, Christie has established
a global reputation as a total service provider and the world's
single source manufacturer of a variety of display technologies and
solutions. Christie offers comprehensive solutions for cinema,
large audience venues, control rooms, business presentations,
training facilities, 3D and Virtual Reality, simulation and
education as well as industrial and government environments.
Christie solutions are used in over 75,000 locations worldwide,
including more than 10,000 projectors and displays networked with
ChristieNET(TM) networking devices. For more information on
Christie's cinema solutions and to find a theatre with Christie
Digital Cinema projectors, visit http://www.christiedigital.com/.
DLP Cinema(R) is a registered trademark of Texas Instruments. Safe
Harbor Statement Investors and readers are cautioned that certain
statements contained in this document, as well as some statements
in periodic press releases and some oral statements of AccessIT
officials during presentations about AccessIT, along with AccessIT
's filings with the Securities and Exchange Commission, including
AccessIT 's registration statements, quarterly reports on Form 10-
QSB and annual report on Form 10-KSB, are "forward-looking"
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "Act"). Forward-looking statements include
statements that are predictive in nature, which depend upon or
refer to future events or conditions, which include words such as
"expects", "anticipates", "intends", "plans", "could", "might",
"believes", "seeks", "estimates" or similar expressions. In
addition, any statements concerning future financial performance
(including future revenues, earnings or growth rates), ongoing
business strategies or prospects, and possible future actions,
which may be provided by AccessIT's management, are also
forward-looking statements as defined by the Act. Forward-looking
statements are based on current expectations and projections about
future events and are subject to various risks, uncertainties and
assumptions about AccessIT, its technology, economic and market
factors and the industries in which AccessIT does business, among
other things. These statements are not guarantees of future
performance and AccessIT undertakes no specific obligation or
intention to update these statements after the date of this
release. Contact: Suzanne Tregenza Moore Michael Glickman AccessIT
The Dilenschneider Group 55 Madison Avenue 212.922.0900 Suite 300
Morristown, NJ 07960 973.290.0080 http://www.accessitx.com/ Dorina
Belu Christie 519.749.3323 http://www.christiedigital.com/
DATASOURCE: Access Integrated Technologies, Inc. CONTACT: Suzanne
Tregenza Moore of AccessIT, +1-973-290-0080; or Dorina Belu of
Christie, +1-519-749-3323, or ; or Michael Glickman of The
Dilenschneider Group, +1-212-922-0900 Web site:
http://www.accessitx.com/ http://www.christiedigital.com/
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