UFO Moviez & Pyramid-Saimira Theatres to create the largest digital cinema chain

Company News

MUMBAI, September 21

India is on the forefront of the digital cinema revolution and with this deal bringing together the two titans of this revolution UFO Moviez, the world’s largest integrated digital cinema network and Chennai based Pyramid Saimira Theatres Limited (PSTL) for the digitization of 1000 (PSTL) theatres over the next three years all over India will create the largest integrated digital cinema chain in the world. UFO Moviez shall be providing end to end digital cinema solutions for the theatres in the Pyramid Saimira chain at a cost of RS.150 Crores.

Commenting on the deal, Mr. Sanjay Gaikwad, Executive Director/CEO, UFO India Pvt. Ltd. said, “We anticipate that this tie up with Pyramid group will chart the way for the digital revolution happening in the field of cinema exhibition. A single integrated chain of 1000 digital cinemas all over India will provide producers and distributors a unique opportunity for saturated wide spread release in the week of release itself. Worldwide, there is tremendous excitement about this technology which is being hailed as the next great leap in film distribution and exhibition”.

Elaborating on the agreement, Mr. Usman Fayaz, Director, UFO India Pvt. Ltd., said, “Pyramid Saimira has tremendous presence in the southern states and are now looking at expanding to other territories in India. This agreement is indeed a step forward in our future plans of creating a truly global network and becoming the world’s undisputed leaders in digital cinema network.”

“The states of Andhra Pradesh, Tamil Nadu, Kerala and Karnataka between themselves have 59% of the cinema halls in India. We expect at least 50% of our conversions to UFO Digital system to come from the south market. Unlike the hindi speaking states, the 4 southern states are highly compartmentalized as regards film viewing and exhibition in terms of language and we expect a high density of theatres in these states.”

Elaborating on the agreement Mr. P.S.Saminathan - Managing Director, PSTL said “PSTL plans to have 2000 screens under its full operation management spread across 1550 locations by the year 2009-2010. The agreement with UFO enables PSTL to reach this target faster since it frees PSTL capital from Plant & Machinery and enables PSTL to lock in more points of presence faster”.

Further Mr. .P.S.Saminathan added this agreement with UFO will bring in the very best in digital cinema technology to PSTL theatres. The expanded footprint combined with UFO’s model will create a revolution in the cinema exhibition business.

ABOUT UFO India Pvt. Ltd.:

UFO India Pvt. Ltd., the owners of UFO Moviez is part of GROUP APOLLO’S Media Initiative set to revolutionize the way films are distributed and exhibited in India through its pioneering technology and infra-structure, UFO MOVIEZ envisages a ‘FIRST DAY FIRST SHOW’ regime for film distributors and cinema owners across the country.

UFO MOVIEZ, the path-breaking initiative, spearheaded by founder directors Raaja Kanwar, Sanjay Gaikwad and Usman Fayaz, plans to create the largest chain of digital cinemas houses worldwide by 2007 in India with 2000 installations across the country at a total investment of Rs 300 crores.

UFO’s superior image quality combined with its unique usage based business model has made us the world leader in digital cinema technology with 365 installations all over India is a short space of one year. UFO Moviez delivers digitally mastered high quality movie images through satellite directly to cinema halls without any additional cost in prints for content owners and unprecedented viewing pleasure to movie viewers alike.

UFO Moviez Digital Cinema Solutions is a highly comprehensive end to end Digital Cinema System which is equipped with many advanced features such as, Real Time Satellite Delivery, Smart Card Based Licensing and High End Management Information Systems for producers and distributors.

ABOUT PSTL :

PSTL is currently the India’s largest theatre chain company running over 136 screens. PSTL has got strong presence in South India and has tied up locations in Northern part of India. PSTL has strong development tie ups, in which developers will develop at their cost, screens, family entertainment centers & food court at Pyramid chosen locations. Pyramid is also developing a Pan Global content supply chain. PSTL plans to be the world’s largest integrated digital theatre chain.

For further information:

Dennis Raul / Malavika Kaura

Good Relations India

Ph # 022 – 23535971

98 200 55 806 / 98 671 53 019

dennis@gri.co.in / malavika@gri.co.in