Reading International Recognizes Satisfaction of Debt

Reading International Recognizes Satisfaction of Debt

LOS ANGELES, May 1 /PRNewswire-FirstCall/ -- Reading International, Inc. (NYSE Amex US: RDI) announced that it extinguished $22.9 million of its trust preferred securities debt yesterday.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO)

As previously announced, Reading reacquired $22.9 million of its trust preferred securities in exchange for certain marketable securities during January and February 2009. As a result of the extinguished debt, Reading will recognize a gain on extinguishment of debt in the second quarter of approximately $11.5 million. The extinguishment of debt was effective when the reacquired securities and the debt were cancelled on April 30, 2009.

About Reading International, Inc.

Reading International (http://www.readingrdi.com/) is in the business of owning and operating cinemas and developing, owning and operating real estate assets. Our business consists primarily of:

-- the development, ownership and operation of multiplex cinemas in the
United States, Australia and New Zealand; and

-- the development, ownership and operation of retail and commercial real
estate in Australia, New Zealand and the United States.

Reading manages its worldwide cinema business under various different brands:

-- in the United States, under the
-- Reading brand,
-- Angelika Film Center brand (http://angelikafilmcenter.com/),
-- Consolidated Theatres brand
(http://www.consolidatedtheatres.com/), and
-- City Cinemas brand;
-- in Australia, under the Reading brand
(http://www.readingcinemas.com.au/); and
-- in New Zealand, under the
-- Reading (http://www.readingcinemas.co.nz/) and

-- Rialto (http://www.rialto.co.nz/) brands.

For more information, contact:

Andrzej Matyczynski, Chief Financial Officer
Reading International, Inc. (213) 235 2240

Photo: http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Reading International, Inc.

CONTACT: Andrzej Matyczynski, Chief Financial Officer of Reading
International, Inc., +1-213-235-2240

Web Site: http://www.readingrdi.com/
http://angelikafilmcenter.com/
http://www.consolidatedtheatres.com/
http://www.readingcinemas.com.au/
http://www.readingcinemas.co.nz/
http://www.rialto.co.nz/

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