5/24/2006
Rising Star Media Breaks Ground for Russia's Largest Cinema and Family Entertainment Complex: KinoStar City

State-of-the-art entertainment destination to be first in St. Petersburg

[Moscow, Russia]—May 24, 2006-- Rising Star Media, Russia’s leading developer and operator of full service, western-style world-class cinemas, announced today that it has broken ground for construction of Russia’s largest Cinema and Family Entertainment Complex: KinoStar City. The multiplex cinema and entertainment center, the first of its kind in St. Petersburg, will occupy 10,000 square meters of space in the first French VINCI Construction Grands Projets development in Russia, Piter Raduga Shopping Center. The venue is expected to be completed in late 2006.

The Raduga location will be the third flagship sized multiplex venue built and operated by Rising Star Media in Russia. It is one of a number of new sites in active development by Rising Star in both St. Petersburg and Moscow.

KinoStar City Raduga will be an entertainment destination combining Russia's largest multiplex cinema, an 18 lane regulation sized bowling area, a state of the art family game arcade, a food court, lounges, and an innovative karaoke concept specially designed for teenagers and young adults. KinoStar City Raduga will also feature lounges in the lobby where patrons can enjoy food and drinks at several restaurants before or after the movie. Patrons will be treated to live entertainment, music zones, and state-of-the art electronic games for young adults and families.

“We are thrilled that the innovative KinoStar entertainment destination experience has taken off so quickly in Russia.” noted Shari E. Redstone, chairman and chief executive officer of Rising Star Media. “We look forward to providing the families of St. Petersburg with an entertainment venue that offers such a unique array of activities in one single destination, from movies to bowling, to electronic games and full scale restaurants, and more.”

“I am really excited about our KinoStar City concept,” stated Paul B. Heth, president and general director of Rising Star Media. “We have challenged ourselves to develop a fully integrated experience that will allow our patrons to enjoy movies in a quality of style and fashion completely new, not only to Russia, but to the rest of the world as well. We look forward to continuing our success in emphasizing the exhibition of local Russian language films.”

The innovative, modern-style venue will house 14 cinema screens and seating for approximately 3,500 patrons. The state-of-the-art cinemas will exhibit Russian first run films as well as select international and high profile independents releases and will be complete with stadium seating, wall-to-wall screens, multiple food and beverage areas, and high-quality Dolby Digital Surround EX sound in all of the auditoriums.

One of the auditoriums will be a KinoStar First Class hall offering guests amenities such as oversized leather seats and personalized food service along with exclusive use of a Premium Salon. There will also be a Kidstar hall geared directly to young children and their parents.

Piter Raduga Mall is comprised of 75000 square meters (sqm) of gross leasable space. In addition to Kinostar, the mall will house a 17,000 sqm REAL hypermarket, an 18,000 sqm OBI store, and 15,000 sqm units that will include White & Brown electronics, home improvement, fashion, sport and brands like Sportmaster, Santa House, a shopping gallery of more than 150 shops and a unique modern food court area. Prominent brands like Sephora, Soyouz, Esprit, Carlo Pazzolini, Mothercare, Puma, L’Etoile, Sinequanon, Golfstream, Next, In medio, Baltic Bread, Dim, Tommy Hilfiger, Claires, Griazy Net, Euroset, Tatuum, Gerry Weber, Hallmarkt, Edmins, Estel Adoni, 18 Carats, Bustier, Viva, Body Shop, Chevignon, Naf Naf, Timberland, Lensmaster have already signed-on to the project.

Piter Raduga will be located on one of the major routes into St. Petersburg, just 7 km from the historical center in Moskovsky district, offering easy access for customers from around the region. Free customer parking will be available in the expansive 3500 space parking lot.

About Rising Star Media

Rising Star Media is a joint venture between National Amusements, Inc, a US-based exhibition leader and parent company of media giants Viacom and CBS, and Soquel Ventures, led by Paul B. Heth, best known for his groundbreaking work towards revitalization of the Russian cinema sector. Rising Star cinemas located in Moscow are among Russia’s top grossing theaters.

Rising Star Media was established with the goal of creating a state of the art cinema circuit in the rapidly expanding Russian market. National Amusements, Inc. and Soquel Ventures have successfully collaborated on other projects in the United States, such as The Bridge: Cinema de Lux, a widely acclaimed new style of theatre with locations in Los Angeles and Philadelphia, PA. www.KinoStardelux.ru

VINCI Construction Grands Projets is a subsidiary of VINCI. World’s leading integrated concession-construction group, VINCI operates in over 80 countries and has a network of 2,500 profit centres, which carry out 250,000 projects every year. As market leader in all construction, concessions, roadworks and electrical engineering business lines, VINCI has 142,000 employees worldwide (including 84,000 in France) and generated net sales of €21.5 billion in 2005.

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Media Contacts:

(U.S. contact)

Wanda Whitson

781-461-1600 ext336

wwhitson@national-amusements.com

(Russian contact)
Olga.Chirikhina@rsmedia.ru

7495-775-4488 ext. 107