Alliance Atlantis Announces Redemption of High Yield Notes with Proceeds of New Credit Facilities

Alliance Atlantis Announces Redemption of High Yield Notes with Proceeds of New Credit Facilities New credit facilities expected to be in place by December 21, 2004 TSX : AAC.A, AAC.B NASDAQ : AACB TORONTO, Nov. 19 /PRNewswire-FirstCall/ -- Alliance Atlantis Communications Inc. today confirmed that it has entered into new credit facilities underwritten by Merrill Lynch & Co., Royal Bank of Canada and The Toronto Dominion Bank (as the joint lead arrangers and joint bookrunners). The Company also confirmed that it has issued an irrevocable notice of redemption for its US$300 million of outstanding 13% Senior Subordinated Notes due December 15, 2009. The redemption is expected to occur on or about December 21, 2004. The redemption of the Notes and any outstanding balance on the Company's existing C$300 million revolving credit facility at closing will be financed by the new senior secured credit facilities that consist of a five-year C$175 million (or equivalent US$) revolving credit facility, a five-year Term Loan A facility for up to the US$ equivalent of C$130 million, and a seven-year Term Loan B facility for up to the US$ equivalent of C$300 million. The Company believes its annual interest savings from early redemption of the 13% Senior Subordinated Notes will be substantial. These credit facilities are separate from and have no effect on the financing structure of Motion Picture Distribution LP or Movie Distribution Income Fund. About Alliance Atlantis Communications Alliance Atlantis Communications Inc. is a leading specialty broadcaster. The Company also co-produces and distributes a limited number of television programs in Canada and internationally, including the hit CSI franchise, and holds a 51% limited partnership interest in Motion Picture Distribution LP, Canada's leading motion picture distribution business. The Company's common shares are listed on the Toronto Stock Exchange -- trading symbols AAC.A, AAC.B and on NASDAQ -- trading symbol AACB. The Company's Web site is www.allianceatlantis.com. This press release and attachments contain forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Canadian securities regulatory authorities and the US Securities and Exchange Commission. Source: Alliance Atlantis Communications Inc. CONTACT: W. Judson Martin, Senior Executive Vice President and Chief Financial Officer, Tel: (416) 934-6932, E-mail: judson.martin@allianceatlantis.com; Kym Robertson, Senior Vice President, Corporate & Public Affairs, Tel: (416) 934-6941, E-mail: kym.robertson@allianceatlantis.com ------- Profile: International Entertainment