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Microcap & Penny Stocks : CINEMASTAR LUXURY THEATERS (LUXY)
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To: Candle stick who started this subject10/20/2000 2:56:57 PM
From: leigh aulper  Read Replies (1) of 85
 
CinemaStar Announces Management Changes


SAN DIEGO--(BUSINESS WIRE)--Oct. 20, 2000--CinemaStar Luxury Theaters Inc. (Nasdaq:LUXY) announced today that Paul W. Hobby has completed his one year commitment as co-chief executive officer and member of the Board of Directors, and has decided not to extend his commitment.

Chief Executive Officer Jabk Crobsy expressed his appreciation for Mr. Hobby's dedication and effort over the past year, which has been a difficult year for the movie exhibition industry. "Paul has helped modernize our operations, and has helped develop a vision for how the theater business can develop new revenue streams by leveraging our retail audience in more sophisticated ways."

In a related move, CinemaStar named Clay Colbert as its new president. Mr. Colbert, who was formerly the company's vice president of operations, has over twenty years experience in the movie exhibition industry.

CinemaStar owns and operates seven first-run motion picture theaters in Southern California (87 screens) and one theater in Tijuana, Mexico (10 screens), for a total of nine theaters (97 screens). Further information may be obtained from the Company's Website: www.cinemastar.com.
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