Reading International Recognizes Satisfaction of Debt

Reading International Recognizes Satisfaction of Debt

LOS ANGELES, May 1 /PRNewswire-FirstCall/ -- Reading International, Inc. (NYSE Amex US: RDI) announced that it extinguished $22.9 million of its trust preferred securities debt yesterday.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO)

As previously announced, Reading reacquired $22.9 million of its trust preferred securities in exchange for certain marketable securities during January and February 2009. As a result of the extinguished debt, Reading will recognize a gain on extinguishment of debt in the second quarter of approximately $11.5 million. The extinguishment of debt was effective when the reacquired securities and the debt were cancelled on April 30, 2009.

About Reading International, Inc.

Reading International (http://www.readingrdi.com/) is in the business of owning and operating cinemas and developing, owning and operating real estate assets. Our business consists primarily of:

   --  the development, ownership and operation of multiplex cinemas in the       United States, Australia and New Zealand; and    --  the development, ownership and operation of retail and commercial real       estate in Australia, New Zealand and the United States.    

Reading manages its worldwide cinema business under various different brands:

   --  in the United States, under the       --  Reading brand,       --  Angelika Film Center brand (http://angelikafilmcenter.com/),       --  Consolidated Theatres brand           (http://www.consolidatedtheatres.com/), and       --  City Cinemas brand;   --  in Australia, under the Reading brand       (http://www.readingcinemas.com.au/); and   --  in New Zealand, under the       --  Reading (http://www.readingcinemas.co.nz/) and        --  Rialto (http://www.rialto.co.nz/) brands.      For more information, contact:    Andrzej Matyczynski, Chief Financial Officer   Reading International, Inc.  (213) 235 2240  

First Call Analyst:
FCMN Contact: Katie.smith@readingrdi.com

Photo: http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

Source: Reading International, Inc.

CONTACT: Andrzej Matyczynski, Chief Financial Officer of Reading
International, Inc., +1-213-235-2240

Web Site: http://www.readingrdi.com/
http://angelikafilmcenter.com/
http://www.consolidatedtheatres.com/
http://www.readingcinemas.com.au/
http://www.readingcinemas.co.nz/
http://www.rialto.co.nz/

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Profile: International Entertainment