Cineplex Odeon to undertake major expansion and renovation at Atwater Theatre in Montreal.

MONTREAL--(BUSINESS WIRE)--April 22, 1997--CINEPLEX ODEON CORP. (TSE, NYSE CPX.) Cineplex Odeon Corp. announced Tuesday plans to undertake a major expansion at the Atwater Theatre in Montreal Quebec to convert the existing triplex into a state-of-the-art, nine-screen theatre, featuring all-stadium seating and curved screens.

Located at the busy intersection of Atwater St. and Ste. Catherine in Place Alexis Nihon, the theatre's construction will begin in Spring, 1997.

Today's announcement is in keeping with the Company's North American growth and expansion plan to increase Cineplex Odeon's presence in all major and secondary markets in Canada and the United States.

In addition to the 18 theatres which Cineplex Odeon currently operates in the Montreal area, the Company announced last August the development of a 17-screen megaplex in Montreal's flourishing Latin Quarter. The Latin Quarter Cinema is currently under construction and will be open for business in November, 1997.

"We are committed to developing new, leading-edge theatres in the Montreal area, particularly in the thriving downtown market," said Allen Karp, President and CEO of Cineplex Odeon.

"While our Latin Quarter theatre will provide first-class entertainment facilities for the eastern side of Montreal's downtown, the expansion of the Atwater Theatre will provide superior facilities for the west side of the downtown core.

"That, in conjunction with our existing Faubourg and Egyptien Cinemas, puts us in a position to fully service the downtown market with our theatres."

Upon completion of the Atwater Theatre in December, 1997, it will be reconfigured into a leading-edge, 2,200-seat cinema which is geared to the modern preferences of today's moviegoers. Customers will enjoy comfortable stadium-style seats which ensure superior sightlines and state-of-the-art projection and sound. For customer convenience, cupholders will be installed on seatbacks.

The newly-designed theatre will be an integral part of Place Alexis Nihon, a multi-level, enclosed shopping centre and mixed office/residential complex. Place Alexis Nihon already houses a number of stores, restaurants and services and provides convenient customer parking for 1,200 vehicles.

All auditoriums will be accessible to handicapped patrons and will incorporate chairs with transfer arms, a swing-away design that allows wheelchair patrons to sit comfortably in aisle seats. Hearing impaired listening devices with wireless headsets will be supplied free, as required, in every auditorium.

Cineplex Odeon is an entertainment corporation which owns and operates motion picture cinemas and related food services concessions in six Canadian provinces, 12 American states, the District of Columbia and one theatre in Budapest, Hungary.

With headquarters in Toronto, Cineplex Odeon is the largest exhibitor in Canada, and one of the largest in North America, with 1,551 screens in 313 locations. The corporation's shares are traded on the New York Stock Exchange and the Toronto Stock Exchange.

CONTACT: Cineplex Odeon Corp.

Howard Lichtman, 416/323-6634

or

Cineplex Odeon Quebec Inc.

Claude Chabot, 514/374-5228 ext. 101