Cinemark USA, Inc. Reports Record Revenues and EBITDA for the Second Quarter and Six Month Period Ended June 30, 2000.

Business Editors

PLANO, Texas--(BUSINESS WIRE)--Aug. 7, 2000

Cinemark USA, Inc., a world leader in the motion picture exhibition industry, today reported revenues and EBITDA for the second quarter and six month period ended June 30, 2000.

Cinemark USA, Inc.'s revenues for the second quarter ended June 30, 2000 increased 8.1% to $188.0 million from $173.9 million for the second quarter of 1999. Earnings before interest, taxes, depreciation, amortization and other non-cash expenditures (EBITDA) for the second quarter of 2000 increased 18.1% to $32.0 million from $27.1 million for the second quarter of 1999. The Company's net loss for the second quarter of 2000 was $3.9 million as compared to $0.3 million for the second quarter of 1999.

For the six month period ended June 30, 2000, revenues increased 12.3% to $362.8 million from $323.1 million for the six month period ended June 30, 1999. EBITDA for the first six months of 2000 increased 13.9% to $58.1 million from $51.0 million for the first six months of 1999. The Company`s net loss for the six month period in 2000 was $9.4 million as compared to $3.5 million for the same six month period in 1999. The net loss in the 1999 period included a pre-tax charge of $3.4 million for the write off of unamortized organization costs resulting from a change in accounting principles due to the adoption of Statement of Position (SOP) 98-5 effective January 1, 1999.

Lee Roy Mitchell, Cinemark's Chief Executive Officer, said, "Recognizing the intense financial pressures this industry is facing, our focus is on improving our operating margins and deleveraging the Company. Our efforts have translated this quarters' increase in revenues to a stronger cash flow. We will use our excess cash flow to pay down debt and complete our building program which has been substantially scaled back."

Cinemark USA, Inc. continues to be a world leader in the development of stadium seating megaplex theatres. As of August 7, 2000, the Company has opened 12 new stadium seating megaplexes with a total of 145 screens in five different countries during 2000 bringing its aggregate screen count to 2,852 in the United States, Canada, Mexico, Argentina, Brazil, Chile, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica and Colombia. The current year screen additions include the Company's third and fourth IMAX(R) 3D theatres which opened in Woodridge, Ill. and Tulsa, Okla.

The Company, headquartered in Plano, TX, has a website at www.cinemark.com where it continues to sell tickets over the internet. In addition, Cinemark USA, Inc. is leading the industry in technological innovations by becoming the first major North American theatre company to offer At-Home movie ticket printing. The Company launched this new innovation on August 4, 2000, in its Tinseltown theatre in Plano, Texas and will be expanding the service in the coming months.

The Company intends that this press release be governed by the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995 (the "PSLR Act") with respect to statements that may be deemed to be forward-looking statements under the PSLR Act. Such forward-looking statements may include, but are not limited to, the Company and any of its subsidiaries' long-term theatre strategy. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors. -0-

                          CINEMARK USA, INC.
                           FINANCIAL SUMMARY
              For the Second Quarter and Six Month Period
                     Ended June 30, 2000 and 1999
                            (In thousands)

                      Second        Second      Six Months  Six Months
                   Quarter Ended Quarter Ended     Ended       Ended
                     June 30,      June 30,       June 30,    June 30,
                      2000           1999          2000        1999
Statement of
 Operations data:

Theatre revenues     $187,979      $173,866       $362,844   $323,134

Film rentals and
 advertising           65,631        61,159        123,079    110,360
Concession
 supplies               9,947         9,513         19,661     17,007
Facility leases        26,058        22,172         52,692     42,745
Other theatre
 operating
 expenses              46,568        46,544         93,176     87,543
General and
 administrative
 expenses               9,391         8,507         19,403     16,501
Depreciation,
 amortization and
 asset impairment
 loss                  16,902        12,628         31,557     23,960
(Gain) loss on
 sale of assets          (136)           66            114         --
                   ------------- ------------- ------------- ---------
Total costs and
 expenses             174,361       160,589        339,682    298,116

Operating income       13,618        13,277         23,162     25,018

Interest expense       18,456        13,353         35,346     26,474
Other (income)
 expense                  223          (693)           200     (1,892)
                   ------------- ------------- ------------- ---------
Income (loss)
 before income
 taxes and
 cumulative
 effect of
 an accounting
 change                (5,061)          617        (12,384)       436
Income tax
 provision
 (benefit)             (1,211)          937         (2,972)       926
                   ------------- ------------- ------------- ---------
Income (loss)
 before
 cumulative
 effect of
 an accounting
 change                (3,850)         (320)        (9,412)      (490)
Cumulative effect
 of an
 accounting
 change, net
 of tax                    --            --             --     (2,969)
                   ------------- ------------- ------------- ---------
Net Income (loss)    $ (3,850)     $   (320)      $ (9,412)  $ (3,459)
                   ------------- ------------- ------------- ---------
Other Financial
 Data:
EBITDA (1)           $ 31,970      $ 27,079       $ 58,129   $ 51,050
Cash and cash
 equivalents                                        13,677
Theatre properties
 and equipment,
 net                                               965,699
Total assets                                     1,069,414
Long-term debt                                     809,493
Shareholders'
 equity                                             52,227


(1) Represents operating income plus depreciation, amortization and
    other non-cash expenditures included in operating income.