10/16/2006
Russia’s leading Western style theatrical exhibitor continues major expansion plans

[Dedham, MA, USA]—October 12, 2006 Rising Star Media, Russia’s leading developer and operator of full service, western-style world-class cinemas, announced today that it has finalized leases with leading Russian mall operator Ikea Mega to open KinoStar multiplexes at Mega Belaya Dacha in Moscow and Mega Dybenko in St. Petersburg. Both locations are slated to open in November 2007.

The announcement of the new theatres builds on the long-term relationship between Rising Star Media and Ikea Mega in the Russian market. The new KinoStar locations are the third and fourth multiplexes Rising Star will have with Mega. Rising Star has two Moscow locations already opened in Mega Teply Stan and Mega Khimki. These theaters are among the top box office grossing multiplexes in Russia. In addition to its projects with Ikea Mega, Rising Star Media has several other sites in active development in both the Moscow and St. Petersburg markets. In the Spring of 2007 Rising Star Media will open its first Russian KinoStar City entertainment complex in Raduaga, St. Petersburg.

“We are very pleased to continue our long standing and close relationship with Ikea Mega” stated Shari E. Redstone, president of National Amusements and chairman and chief executive officer of Rising Star Media. “Ikea Mega’s management is superb, providing us with the reliable platform we need to really showcase our luxury cinemas to our Russian patrons. We are looking forward to working with Ikea Mega on these and other projects.”

The Mega Belya Dacha theatre will have 16 screens, 4200 seats and will occupy nearly 10,000 m2 of space, and Mega Dybenko will have 10 screens, 2575 seats and will occupy 6000 M2 of space. The new theatres will show international first run and Russian films as well as select high profile independents. The theatres will offer stadium style seating, wall to wall screens, state of the art food and beverage operations, and high-end digital sound in all of the auditoriums.

“As we continue to implement our long term plan of measured and careful expansion, we will also strive to ensure that our patrons always enjoy a world class movie-going experience” says Paul Heth, President and General Director of Rising Star Media. “We will also maintain our focus on offering locally produced films since a big part of our success can be attributed to the re-emergence of the Russian domestic film sector”.

National Amusements, Inc. and Mr. Heth have successfully collaborated on other cinema projects in the United States and Russia. National Amusements and Mr. Heth are also

partners in Monumental Pictures with US film Studio Sony Pictures Entertainment.

Monumental was formed to produce and distribute Russian language motion pictures for the Russian market.

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.

About National Amusements, Inc.

National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 1,500 screens in the U.S., U.K., Latin America and Russia. National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, Cinema de Lux, and KinoStar brands. Based in Dedham, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation.

Media Contacts:

(U.S.contact)

Wanda Whitson

781-461-1600 ext 336

wwhitson@national-amusements.com

(Russian contact)

Olga.Chirikhina

7495-775-4488 ext. 107

Olga.Chirikhina@rsmedia.ru