Cinema Ride, Inc. Announces Debut of New Show Ticket Venue and Recent Business Developments.

Business Editors

STUDIO CITY, Calif.--(BUSINESS WIRE)--Jan. 19, 2004

Cinema Ride, Inc. ("Cinema Ride" or the "Company") (Pink Sheets:MOVE) is pleased to announce the opening of its new Las Vegas half-price show ticket venue and several other recent business developments.

On Jan. 1, 2004, Cinema Ride opened its new 100% owned show ticket operation on the Las Vegas Strip called Tix4Tonight, LLC. The new subsidiary sells show tickets to many of the great Las Vegas shows at half-price on the same day of the show. The business is located in a temporary facility, which is along the prime, heavily foot-trafficked section on the "Strip," between Tropicana and Harmon at 3729 Las Vegas Boulevard, South. The Company is currently involved in negotiations for an outstanding permanent facility nearby, currently under construction, and anticipates occupancy during the second quarter of 2004.

Most of the assets developed by the Company for its previous joint venture, Tickets2Nite, LLC, have been successfully transferred to Tix4Tonight including: all management staff; state of the art software and technology; computer and server systems; and strong relationships with numerous Las Vegas shows. Management is currently evaluating the prospects for expansion of this business into other cities throughout the U.S. and Canada.

The original model of the Company's half-price ticket sales business began in November 2002, when the Company commenced the operation of a new business venture in Las Vegas to sell tickets to Las Vegas shows at 50% of the original box office price, on the same day of the performance. The business was operated from a ticket booth located on the Las Vegas Strip, near the new facility, through its 50% interest in a Nevada limited liability company. The business was operated by Cinema Ride and was extremely successful in a very short time. Significant positive cash flows were produced and lines stretched down the sidewalk prior to opening of business each day.

In late 2002, the Company filed a lawsuit against its venture partner with respect to matters concerning the funding (the partner funded less than half of its required investment) and management of the new business venture. Subsequently, during 2003, the Court ruled in favor of the Company on every issue in the case, then ruled that the parties were unable to operate the business together pursuant to the operating agreement, and thus directed that the limited liability company be dissolved. Accordingly, operations of the limited liability company were terminated effective Dec. 31, 2003. As a result of the dissolution, the Company received its approximately two-thirds cash distribution in early January 2004, and expects to receive a final cash distribution by March 31, 2004. Several issues remain under litigation in this matter. The former venture partner is now competing against the Company's new operation. The Company's management believes it can successfully compete due to its superior management and show relationships.

Mitch Francis, President of the Company, commented, "We are pleased that Tickets2Nite, LLC has been dissolved because it allows us to continue with the half-price show ticket business on our own. Our growth plans including additional half-price ticket booths in Las Vegas and other cities and new business concepts can now be pursued."

The Company has also recently terminated operations of its motion simulator business by closing its final two facilities, located in the Forum Shops in Las Vegas and at the West Edmonton Mall in Edmonton, Canada. The Las Vegas ride facility provided a significant percentage of the Company's consolidated revenues in 2003. The Edmonton facility did not contribute materially to the Company's consolidated revenues in 2003.

With regard to the cessation of the Company's motion simulator business, Mr. Francis stated, "We feel that it is in the Company's best interest to devote itself and its resources to the growth of its exciting new business opportunity of selling half-price tickets in Las Vegas and other markets and therefore believe that we have taken the steps to provide a platform for a successful revitalization of Cinema Ride in 2004."

Cautionary Statement re Forward Looking Statements:

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. The forward-looking statements in this news release are subject to risks and uncertainties that could cause actual results to differ materially from those results expressed in or implied by the statements contained herein. The Company undertakes no obligations to revise or update any forward-looking statements contained herein in order to reflect events or circumstances that may arise after the date of this news release.