Cinemark USA, Inc. Reports Second Quarter Revenues and EBITDA in Excess of Last Year.

    Business Editors

      PLANO, Texas--(BUSINESS WIRE)--August 14, 2001--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, 2001.
      Cinemark USA, Inc.'s revenues for the second quarter ended June
30, 2001 increased 7.7% to $202.4 million from $188.0 million for the
second quarter ended June 30, 2000. Earnings before interest, taxes,
depreciation, amortization and other non-cash expenditures (EBITDA)
for the second quarter of 2001 increased 15.0% to $36.8 million from
$32.0 million for the second quarter of 2000. The Company's net loss
for the second quarter of 2001 was $2.3 million as compared to a net
loss of $3.9 million for the second quarter of 2000.
      For the six month period ended June 30, 2001, revenues increased
9.8% to $398.4 million from $362.8 million for the six month period
ended June 30, 2000. EBITDA for the first six months of 2001 increased
23.8% to $71.9 million from $58.1 million for the first six months of
2000. The Company's net loss for the six month period in 2001 was $5.0
million as compared to a net loss of $9.4 million for the same six
month period in 2000.
      Lee Roy Mitchell, Cinemark's Chief Executive Officer, said, "This
is the third consecutive quarter that we have been able to increase
the rate of growth in our EBITDA in excess of the level of our revenue
growth. Our theatre managers were asked to improve their operating
margins and they have met the challenge. We will continue to focus on
savings opportunities and utilize the additional EBITDA to reduce our
long-term debt."
      Cinemark USA, Inc. continues to be a world leader in the
development of stadium seating multiplex theatres. As of August 14,
2001, the Company has opened 6 new stadium seating multiplexes with a
total of 64 screens in four different countries and acquired one
theatre (6 screens) during 2001 bringing its aggregate screen count to
2,969 in the United States, Canada, Mexico, Argentina, Brazil, Chile,
Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica and
Colombia. During the remainder of 2001, the Company has five
additional international theatre commitments (52 screens) and will
open one domestic theatre (4 screens) in Park City, Utah which will
screen first run films and also be the home of the Sundance Film
Festival.
      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.
      The Company, headquartered in Plano, TX, has a website at
www.cinemark.com where it sells tickets over the internet.
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                          CINEMARK USA, INC.
                     FINANCIAL SUMMARY (unaudited)
          For the Second Quarter and Six Month Periods Ended
                        June 30, 2001 and 2000
                            (In thousands)

                                         Second           Second
                                      Quarter Ended    Quarter Ended
                    - more -
                                      June 30, 2001    June 30, 2000
 Statement of Operations data:


 Theatre revenues                        $202,359         $187,979

 Film rentals and advertising              68,490           65,631
 Concession supplies                       10,231            9,947
 Facility leases                           28,133           26,058
 Other theatre operating expenses          49,584           46,568
 General and administrative expenses       10,347            9,391
 Depreciation, amortization and asset
  impairment loss                          17,076           16,902
 (Gain) loss on sale of assets              1,720             (136)
                                       ------------      ------------
 Total costs and expenses                 185,581          174,361

 Operating income                          16,778           13,618

 Interest expense                          17,850           18,456
 Other expense                              2,516              223
                                       ------------      ------------
 Loss before income taxes                  (3,588)          (5,061)
 Income tax benefit                        (1,261)          (1,211)
                                       ------------      ------------
 Net Loss                                $ (2,327)        $ (3,850)
                                       ------------      ------------
 Other Financial Data:
 EBITDA (1)                              $ 36,764         $ 31,970
 Cash and cash equivalents
 Theatre properties and equipment, net
 Total assets
 Long-term debt, including current portion
 Shareholders' equity

                                        Six Months        Six Months
                                          Ended             Ended
                                       June 30, 2001     June 30, 2000

Statement of Operations data:


Theatre revenues                         $398,429          $362,844

Film rentals and advertising              133,799           123,079
Concession supplies                        20,504            19,661
Facility leases                            56,924            52,692
Other theatre operating expenses           97,749            93,176
General and administrative expenses        20,190            19,403
Depreciation, amortization and asset
 impairment loss                           34,135            31,557
(Gain) loss on sale of assets               1,831               114
                                       ------------      ------------
Total costs and expenses                  365,132           339,682

Operating income                           33,297            23,162

Interest expense                           37,113            35,346
Other expense                               3,859               200
                                       ------------      ------------
Loss before income taxes                   (7,675)          (12,384)
Income tax benefit                         (2,686)           (2,972)
                                       ------------      ------------
Net Loss                                  $(4,989)          $(9,412)
                                       ------------      ------------
Other Financial Data:
EBITDA (1)                                $71,903           $58,129
Cash and cash equivalents                  27,854            13,677
Theatre properties and equipment, net     923,700           965,699
Total assets                            1,040,892         1,069,414
Long-term debt, including
 current portion                          823,125           809,493
Shareholders' equity                       42,344            52,227

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

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    --30--ma/da*

    CONTACT: Cinemark USA, Inc.

             Robert Copple, 972/665-1000
             Fax: [phone]

    KEYWORD: TEXAS UTAH ARGENTINA BRAZIL MEXICO CHILE COLOMBIA PERU
ECUADOR NICARAGUA HONDURAS COSTA RICA INTERNATIONAL LATIN AMERICA
CANADA
    INDUSTRY KEYWORD: ENTERTAINMENT MOTION PICTURES EARNINGS
    SOURCE: Cinemark USA, Inc.