Access Integrated Technologies Completes Acquisition of Pavilion Movie Theater/Entertainment Complex in Brooklyn, New York

- Pavilion to Serve as Both Profit Center and Showcase for

New Digital Cinema Technologies -



14 Feb, 2005, 00:00 ET from Access Integrated Technologies, Inc.

    MORRISTOWN, N.J., Feb. 14 /PRNewswire-FirstCall/ -- Access Integrated
 Technologies, Inc. ("AccessIT") (Amex:   AIX) today announced the completion of
 the acquisition of the business and assets of the Pavilion Movie
 Theater/Entertainment Complex (the "Pavilion") in the Park Slope section of
 Brooklyn, New York.  The $5 million purchase price includes approximately
 $3.3 million in cash and a $1.7 million 5-year 8 percent note calling for
 10 percent principal amortization annually.
     Starting with the installation of a satellite dish on the roof, AccessIT
 plans to transition the theatre to digital operation with the installation of
 a broad range of digital cinema hardware and software. The complex will
 showcase all of AccessIT's integrative digital and analog solutions as well as
 those of other industry vendors. As part of the modernization, the company,
 working with Vista Cinema Systems (http://www.vista.co.nz), will replace the
 theater's current ticketing system with a Vista point-of-sale system.
 AccessIT also plans to outfit the location with its Exhibitor Management
 Software (EMS), developed by its Hollywood Software division. At least three
 of the Pavilion's eight screens will initially be converted to digital,
 employing AccessIT's Library Server and Theatre Command Center (TCC) software
 to manage all operations, including platter building and play list management.
 Construction on a ninth screen is part of the seller's obligation and is
 targeted for completion in June.
     "We are pleased to be moving forward with plans to use the Pavilion as a
 showcase for our best-of-breed digital cinema solutions," commented Bud Mayo,
 President and Chief Executive Officer of AccessIT. "Although we have
 established an aggressive timetable, we hope the Pavilion will be prepared to
 receive and show major movies like 'Star Wars Episode Three' in full digital
 before the summer."
 
     Access Integrated Technologies, Inc. (AccessIT) is an early mover in
 offering a fully managed storage and delivery service for owners and
 distributors of digital content to movie theaters and other venues. Supported
 by its robust platform of fail-safe Internet data centers, which offer a wide
 variety of managed services, AccessIT is able to leverage the market-leading
 role of its Hollywood Software subsidiary with the innovative digital delivery
 capabilities of its Digital Media unit to provide the highest level of
 technology available to service the emerging digital cinema industry. For more
 information, visit our website at http://www.accessitx.com.
 
     Safe Harbor Statement
     Investors and readers are cautioned that certain statements contained in
 this document, as well as some statements in periodic press releases and some
 oral statements of AccessIT officials during presentations about AccessIT,
 along with AccessIT 's filings with the Securities and Exchange Commission,
 including AccessIT 's registration statements, quarterly reports on Form
 10-QSB and annual report on Form 10-KSB, are "forward-looking" statements
 within the meaning of the Private Securities Litigation Reform Act of 1995
 (the "Act"). Forward-looking statements include statements that are predictive
 in nature, which depend upon or refer to future events or conditions, which
 include words such as "expects," "anticipates," "intends," "plans," "could,"
 "might," "believes," "seeks," "estimates" or similar expressions. In addition,
 any statements concerning future financial performance (including future
 revenues, earnings or growth rates), ongoing business strategies or prospects,
 and possible future actions, which may be provided by AccessIT's management,
 are also forward-looking statements as defined by the Act. Forward-looking
 statements are based on current expectations and projections about future
 events and are subject to various risks, uncertainties and assumptions about
 AccessIT, its technology, economic and market factors and the industries in
 which AccessIT does business, among other things. These statements are not
 guarantees of future performance and AccessIT undertakes no specific
 obligation or intention to update these statements after the date of this
 release.
 
      Contact:
 
      Suzanne Tregenza           Michael Glickman
      AccessIT                   The Dilenschneider Group
      55 Madison Avenue          212.922.0900
      Suite 300
      Morristown, NJ  07960
      973.290.0080
      http://www.accessitx.com
 
 

SOURCE Access Integrated Technologies, Inc.
    MORRISTOWN, N.J., Feb. 14 /PRNewswire-FirstCall/ -- Access Integrated
 Technologies, Inc. ("AccessIT") (Amex:   AIX) today announced the completion of
 the acquisition of the business and assets of the Pavilion Movie
 Theater/Entertainment Complex (the "Pavilion") in the Park Slope section of
 Brooklyn, New York.  The $5 million purchase price includes approximately
 $3.3 million in cash and a $1.7 million 5-year 8 percent note calling for
 10 percent principal amortization annually.
     Starting with the installation of a satellite dish on the roof, AccessIT
 plans to transition the theatre to digital operation with the installation of
 a broad range of digital cinema hardware and software. The complex will
 showcase all of AccessIT's integrative digital and analog solutions as well as
 those of other industry vendors. As part of the modernization, the company,
 working with Vista Cinema Systems (http://www.vista.co.nz), will replace the
 theater's current ticketing system with a Vista point-of-sale system.
 AccessIT also plans to outfit the location with its Exhibitor Management
 Software (EMS), developed by its Hollywood Software division. At least three
 of the Pavilion's eight screens will initially be converted to digital,
 employing AccessIT's Library Server and Theatre Command Center (TCC) software
 to manage all operations, including platter building and play list management.
 Construction on a ninth screen is part of the seller's obligation and is
 targeted for completion in June.
     "We are pleased to be moving forward with plans to use the Pavilion as a
 showcase for our best-of-breed digital cinema solutions," commented Bud Mayo,
 President and Chief Executive Officer of AccessIT. "Although we have
 established an aggressive timetable, we hope the Pavilion will be prepared to
 receive and show major movies like 'Star Wars Episode Three' in full digital
 before the summer."
 
     Access Integrated Technologies, Inc. (AccessIT) is an early mover in
 offering a fully managed storage and delivery service for owners and
 distributors of digital content to movie theaters and other venues. Supported
 by its robust platform of fail-safe Internet data centers, which offer a wide
 variety of managed services, AccessIT is able to leverage the market-leading
 role of its Hollywood Software subsidiary with the innovative digital delivery
 capabilities of its Digital Media unit to provide the highest level of
 technology available to service the emerging digital cinema industry. For more
 information, visit our website at http://www.accessitx.com.
 
     Safe Harbor Statement
     Investors and readers are cautioned that certain statements contained in
 this document, as well as some statements in periodic press releases and some
 oral statements of AccessIT officials during presentations about AccessIT,
 along with AccessIT 's filings with the Securities and Exchange Commission,
 including AccessIT 's registration statements, quarterly reports on Form
 10-QSB and annual report on Form 10-KSB, are "forward-looking" statements
 within the meaning of the Private Securities Litigation Reform Act of 1995
 (the "Act"). Forward-looking statements include statements that are predictive
 in nature, which depend upon or refer to future events or conditions, which
 include words such as "expects," "anticipates," "intends," "plans," "could,"
 "might," "believes," "seeks," "estimates" or similar expressions. In addition,
 any statements concerning future financial performance (including future
 revenues, earnings or growth rates), ongoing business strategies or prospects,
 and possible future actions, which may be provided by AccessIT's management,
 are also forward-looking statements as defined by the Act. Forward-looking
 statements are based on current expectations and projections about future
 events and are subject to various risks, uncertainties and assumptions about
 AccessIT, its technology, economic and market factors and the industries in
 which AccessIT does business, among other things. These statements are not
 guarantees of future performance and AccessIT undertakes no specific
 obligation or intention to update these statements after the date of this
 release.
 
      Contact:
 
      Suzanne Tregenza           Michael Glickman
      AccessIT                   The Dilenschneider Group
      55 Madison Avenue          212.922.0900
      Suite 300
      Morristown, NJ  07960
      973.290.0080
      http://www.accessitx.com
 
 SOURCE  Access Integrated Technologies, Inc.