Cinema Ride, Inc. Reports Results of Operations for the Three Months Ended March 31, 2003.

Business Editors

STUDIO CITY, Calif.--(BUSINESS WIRE)--June 30, 2003

Cinema Ride, Inc. (the "Company") (Pink Sheets:MOVE) announced its results for the three months ended March 31, 2003.

For the three months ended March 31, 2003, revenues decreased by $131,075 or 24.5% to $403,387, as compared to $534,642 for the three months ended March 31, 2002. Direct costs of revenues decreased by $33,853 or 10.6% to $286,150 in 2003, as compared to $320,003 in 2002. Selling and marketing expenses decreased by $7,720 or 42.1% to $10,624 in 2003, as compared to $18,344 in 2002. General and administrative expenses decreased by $27,425 or 6.4% to $400,457 in 2003, as compared to $427,882 in 2002. The net loss for the three months ended March 31, 2003 was $414,748, as compared to a net loss of $363,226 for the three months ended March 31, 2002. The net loss per common share was $0.07 in 2003 and $0.15 in 2002. Weighted average common shares outstanding were 5,770,417 in 2003 and 2,412,567 in 2002.

The Company's 50%-owned subsidiary, Tickets2Nite, LLC, sells tickets to Las Vegas shows at half-price on the same day of the performance. Tickets2Nite commenced operations in early November 2002. The Company's ticket booth is located adjacent to the giant Coke bottle on the Las Vegas Strip, and is operated under the name "Coca-Cola Tickets2Nite." This concept of same day, half-price tickets is a successful, well-established institution in New York City's Times Square. The Company believes that the Tickets2Nite business venture has the potential to contribute materially to the Company's future financial results.

In addition to the Company's Tickets2Nite business, the Company owns and operates motion simulation theater attractions at The Forum Shops at Caesars Palace in Las Vegas, Nevada and at the West Edmonton Mall in Edmonton, Alberta, Canada.

Cautionary Statement Pursuant to Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:

This news release contains "forward-looking" statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. 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.