Cineplex Odeon Corporation Retains Peter Warzel To Focus on International Expansion.

TORONTO--(BUSINESS WIRE)--May 16, 1996--Cineplex Odeon (NYSE, TSE:CPX) Cineplex Odeon Corporation today announced that it has retained Peter Warzel, formerly President and Chief Operating Officer of United Artists Theater Circuit, on a special contract basis effective June 1, 1996. Mr. Warzel will take responsibility for the planning and development of Cineplex Odeon's international expansion program, reporting directly to Allen Karp, Cineplex Odeon's President and Chief Executive Officer, and Robert Tokio, its Executive Vice President.

Mr. Warzel will focus on Cineplex Odeon's international expansion business plan, including assessing and evaluating potential international markets, developing a strategic operating and financial plan and assisting in the further development of an international infrastructure. Cineplex Odeon has targeted international expansion as part of its growth strategy and has been investigating international opportunities including having discussions with possible strategic partners.

Mr. Warzel is currently the Chairman of the National Association of Theater Owners, which represents approximately 60 percent of the theatrical exhibition market in the United States and Canada. Mr. Warzel was President and Chief Operating Officer of United Artists from 1990 to 1995. He is a member of the Board of Directors of the Will Rogers Foundation and the Motion Picture Pioneers, two industry charitable organizations.

Allen Karp, President and Chief Executive Officer of Cineplex Odeon, commented, "The international marketplace has been growing dramatically over the past few years, presenting a significant longer-term opportunity for Cineplex Odeon. Annual box office revenue outside of North America now exceeds that generated domestically. Peter's appointment confirms our strong commitment to this avenue of growth. We intend to selectively expand our theatrical exhibition business into markets outside Canada and the United States, taking advantage of our expertise as a premier film exhibition company, and maximizing the vast opportunities for growth which exist in the global marketplace. We plan to achieve this goal through regional and local strategic alliances, with a strong focus on the international partners and investors."

Cineplex Odeon is an entertainment corporation which owns and operates motion picture cinemas and related food service concessions in 6 Canadian provinces, 13 U.S. states and the District of Columbia. With headquarters in Toronto, Cineplex Odeon is one of the largest exhibitors in North America and the largest in Canada, with 1,501 screens in 320 locations. The Corporation's shares are traded on The New York Stock Exchange and The Toronto Stock Exchange.

CONTACT: Cineplex Odeon

Howard Lichtman, 416/323-6634