Alliance Atlantis renews normal course issuer bid

Alliance Atlantis renews normal course issuer bid

496,500 Non-Voting Shares acquired under existing normal course issuer bid

www.allianceatlantis.com

TSX: AAC.A, AAC.NV.B

TORONTO, Dec. 16 /PRNewswire-FirstCall/ -- Alliance Atlantis Communications Inc. announced today that The Toronto Stock Exchange accepted its notice setting out its intention to renew its existing normal course issuer bid for a one year period. The notice provides that Alliance Atlantis may, during the twelve month period commencing December 20, 2005 and ending December 19, 2006, purchase on the TSX up to 50,272 Class A Voting Shares ("Voting Shares"), representing approximately 5% of the issued and outstanding Voting Shares of the company and up to 4,093,942 Class B Non-Voting Shares ("Non-Voting Shares"), representing 10% of the public float of the company's Non-Voting Shares. As of December 14, 2005 there were 1,005,447 Voting Shares issued and outstanding and there were approximately 40,939,422 Non-Voting Shares in the public float.

Alliance Atlantis intends to opportunistically repurchase its shares under the normal course issuer bid in order to help meet its objectives with respect to capital structure. Purchases of the shares will be completed by Alliance Atlantis in accordance with the rules and policies of the TSX and the price to be paid for the shares will be the market price at the time of the purchase. The actual number of shares to be purchased and the timing of such purchases will be determined by Alliance Atlantis, and all shares will be purchased in open market transactions or such other means as approved by the TSX. All shares purchased by Alliance Atlantis under the normal course issuer bid will be cancelled.

As at December 14, 2005, Alliance Atlantis had acquired 496,500 of its Non-Voting Shares and none of its Voting Shares during the course of its existing normal course issuer bid, which commenced on December 24, 2004. The Non-Voting Shares repurchased under the existing bid were repurchased at an average price of $34.29 and have been cancelled.

About Alliance Atlantis Communications

In 2005, Alliance Atlantis Communications Inc. celebrates its 10th anniversary as a leading specialty broadcaster, continuing to offer Canadians recognizable brands boasting targeted high-quality programming across 13 specialty channels. The Company co-produces and distributes a limited number of television programs in Canada and internationally, including the hit CSI franchise, and holds a 51% limited partnership interest in Motion Picture Distribution LP, the largest distributor of motion pictures in Canada. The Company's common shares are listed on the Toronto Stock Exchange - trading symbols AAC.A and AAC.NV.B. The Company's Web site is www.allianceatlantis.com.

Source: Alliance Atlantis Communications Inc.

CONTACT: Andrew Akman, Vice President, Corporate Development & Investor
Relations, Tel: (416) 966-7701, E-mail: andrew.akman@allianceatlantis.com;
Jennifer Bell, Director, Corporate & Public Affairs, Tel: (416) 934-7854,
E-mail: jennifer.bell@allianceatlantis.com

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