Alliance Atlantis Responds to Media Speculation

Alliance Atlantis Responds to Media Speculation

TSX: AAC.A, AAC.B

TORONTO, Jan. 5 /PRNewswire-FirstCall/ -- In response to media speculation, Alliance Atlantis Communications Inc. ("AACI") today announced that, further to its previously-announced process of exploring strategic alternatives, it is engaged in discussions regarding a possible sale of AACI. Southhill Strategy Inc., AACI's controlling shareholder (owned by AACI's Executive Chairman, Michael MacMillan, and Seaton McLean), is also participating in those discussions. There can be no assurance that these discussions will result in a definitive agreement.

About Alliance Atlantis Communications

Alliance Atlantis offers Canadians 13 well-branded specialty channels boasting targeted, high-quality programming. The Company also co-produces and distributes the hit CSI franchise and indirectly holds a 51% limited partnership interest in Motion Picture Distribution LP, a leading distributor of motion pictures in Canada, with motion picture distribution operations in the United Kingdom and Spain. The Company's common shares are listed on the Toronto Stock Exchange - trading symbols AAC.A and AAC.B. The Company's website is www.allianceatlantis.com.

Forward-Looking Statements

This press release includes forward-looking statements which reflect AACI's current expectations. Forward-looking statements are those which are not historical fact and include AACI's previously announced intention to explore strategic alternatives and the current discussions regarding a possible sale of AACI. The reader should not place undue reliance on such forward-looking statements. They involve known and unknown risks, uncertainties and other factors that may cause them to differ materially from the anticipated future results or expectations expressed or implied by such forward-looking statements. One such factor the reader should consider is that there can be no assurance that the exploration of strategic alternatives, including the current discussions regarding a possible sale of AACI, will result in any type of transaction. Other risks and factors are described in materials filed by AACI with the security regulatory authorities in Canada from time to time, including AACI's 2005 Management's Discussion and Analysis. AACI undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Source: Alliance Atlantis Communications Inc.

CONTACT: Andrew Akman, Senior Vice President, Finance - Corporate
Development & Investor Relations, Alliance Atlantis Communications Inc, Tel:
(416) 966-7701, Email: andrew.akman@allianceatlantis.com; Nicola McIsaac,
Manager, Corporate & Public Affairs, Alliance Atlantis Communications Inc.,
Tel: (416) 969-4405, Email: nicola.mcisaac@allianceatlantis.com

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