New Cinema Partners, Inc. Closes Acquisition; Plans Global Expansion of New Entertainment Technology.

TORONTO--(ENTERTAINMENT WIRE)--Sept. 22, 1999--

New Cinema Partners, Inc. (OTC BB:NCPP) a Nevada Corp. and formerly known as Valence 9 Development Corp. is pleased to announce the closing of the acquisition of New Cinema Partners Inc., ("The Company") of Toronto, Canada.

The Company was a privately held corporation at the time of the purchase. The acquisition of The Company was undertaken by the issuance of four million (4,000,000) restricted shares to the shareholders of The Company by NCPP. The two companies plan to amalgamate and will operate as the Nevada corporation.

The Company is engaged in the Digital Cinema and "Out-of-Home" entertainment market. Lorne Saltzman, President of the Toronto based company said that New Cinema Partners, Inc. is positioned to make a significant impact in the industry with the commercialization of some of the newer entertainment technologies.

The North American "out-of-home" entertainment market was valued at $146 billion in 1998. It has grown dramatically and further growth is expected. This trend is being experienced in other prime global markets. Presently, mainstream entertainment companies, such as Walt Disney Corp. (NYSE:DIS), Sony (NYSE:SNE), and IMAX (Nasdaq:IMAX), are engaged in some way, either building or acquiring new Location Based Entertainment (LBE) centers.

The Company utilizes proprietary technology that delivers a new dimension on traditional cinema while offering a cost-effective entry into a very large market. The locations for this new entertainment experience will include high volume destinations such as museums, aquariums, theme parks and family entertainment centers.

The technology enables audiences to be immersed while viewing three large master screens and to interact with the show via individual consoles.

New Cinema Partners, Inc. produces a new type of interactive film for interactive theaters. The experience is called "Immersion Reality" and can only be seen in an "Immersion Reality Theater". Additionally The Company provides the design, construction, management and operation of these new "high-tech" theaters.

The turnkey price for installation of a standard theater is approximately US $1.2 Million, and the average cost of each interactive movie is approximately US $750,000. These costs are significantly less than traditional venues in this market providing The Company greater profit opportunities.

The Company is aggressively marketing these theaters globally. NCPP is in the advanced stages of negotiating the underwriting of the first several theater sites and three (3) new interactive films.

The Company plans to establish twenty (20) theaters in the first two years of operation. The Company's initial target and anticipated locations are high profile and well attended destinations with extremely desirable demographics. Currently, NCPP is in advanced negotiations with several well-known, prestigious institutions regarding the placement of Immersion Reality Theaters on their premises.

The Immersion Reality Theater is flexible, ranging in size from a small twelve-seat venue up to several hundred. The standard theater installation is designed for a capacity of approximately one hundred. Immersion Reality shows or "films" range from sensational adventures through time and space, to extreme sports action, or romantic comedy. These interactive shows can be live action, digital video, computer-generated animation and even 3D.

These theaters utilize hardware and software packages developed by Immersion Studios Inc., a provider of digital interactive systems and computer generated animation productions.

The latest Immersion Reality feature, "Storm Over Stellwagen", a twelve-minute, fully interactive ecological adventure was recently premiered at the New England Aquarium. The overall audience reaction has been spectacular. The audiences really enjoy the seemingly endless thematic possibilities of an Immersion Reality attraction.

New Cinema Partners, Inc. is an Immersion Studios Inc. strategic alliance. The Company's function is to market, finance, build and operate Immersion Reality Theater attractions quickly and on a large scale. Although The Company specializes in these Immersion Reality Theaters, it also will pursue opportunities in family entertainment, including the production of live action and animated films for the large format IMAX medium.

Statements regarding financial matters in this fact sheet are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about The Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, The Company's actual results may differ materially from expected results. "IMAX" is a registered trademark of IMAX Corporation. "Immersion Reality" and "Immersion Reality Theaters" are registered trademarks of Immersion Studios Inc.