Cinema Ride Restructures Debt and Obtains Line of Credit.

STUDIO CITY, Calif.--(BUSINESS WIRE)--April 1, 1999--Cinema Ride, Inc., (OTC:Move) announced today that it has entered into a Modification Agreement with its lender, pursuant to which its lender has agreed to reduce the monthly payments due under the Company's Master Equipment Lease Agreement of December 1996 by extending the amortization period of the lease. Additionally, Mitch Francis, the Company's President and Chief Executive Officer, has agreed to provide to the Company a line of credit of $120,000 which would be made available to the Company upon request of the Company's Board of Directors at any time up to February 2, 2002. Any amounts advanced under the line of credit will bear interest at 12% per annum and will be due on February 2, 2002. As part of the financing arrangement, Mr. Francis has agreed to have his existing note amended to allow the Company, at the request of the Board of Directors, to demand repayment upon 90 days' notice. In consideration for the amendment of the existing note and the providing of the line of credit, the Company has granted to Mr. Francis a warrant to purchase an aggregate of 1,538,461 shares of the Company's common stock at an exercise price of $.13 per share, representing the per share market price on the date of the financing agreement. Mr. Francis can exercise the warrant in whole or in part at any time up to February 2, 2002.

Mr. Francis stated that, "the reduction of the monthly payments to our lender, the availability of the line of credit and the immediate repayment of the promissory note, if requested by the Company, places the Company on a much firmer financial footing." Mr. Francis further stated that "with this fiscal restructuring, the Company is now in a better position to move forward with its business plan and grow the Company."

Cinema Ride develops, owns and operates motion simulation theater attractions at leading destination tourist sites in the US and Canada. The Company's 15-seat motion simulation capsules feature six-axis, military-quality flight simulator hardware that is computer-programmed to move in concert with action viewed on a motion picture screen. The Cinema Ride facilities are the first to feature 3-D motion simulator attractions. Their library includes such titles as Atlantis Submarine Race, Runaway Coasters, Haunted Graveyard Run and Warren Miller's Ski Ride.

NOTE: Except for the historical information contained herein, the statements made in this release constitute forward-looking statements that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, and the other risks detailed from time to time in the Company's reports on file at the Securities and Exchange Commission.