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Microcap & Penny Stocks : CINEMASTAR LUXURY THEATERS (LUXY) -- Ignore unavailable to you. Want to Upgrade?

To: timmy e. who wrote (69)	1/5/1999 10:29:00 AM
From: John Arnopp	Respond to of 85

Perhaps this will put some life in this board and stock: CinemaStar Begins Construction of New 20-Screen Megaplex SAN DIEGO--(BUSINESS WIRE)--Jan. 5, 1999--CinemaStar Luxury Theaters Inc. (NASDAQ:LUXY - news), which owns and operates eight first run motion picture theaters in southern California (7 theaters with 69 screens) and Tijuana, Mexico (one theater with 10 screens), today announced that it has begun construction of a new 20-screen megaplex theater in downtown San Bernadino, CA. Scheduled for a September 1999 opening date, the new 20-plex theater will include state-of-the-art amenities, such as stadium seating in all 20 viewing areas, the latest screen and sound technologies incorporating LucasFilm THX Stereo Surround Sound environment systems and the most modern concession areas in the industry. San Bernardino, which is located approximately 55 miles east of Los Angeles, is currently undergoing an extensive economic revitalization. CinemaStar will provide the optimum movie experience to a densely populated downtown area which has been historically underserved. City of San Bernardino Mayor Judith Valles said, ''I see the CinemaStar Theater as a catalyst to spur other development opportunities that will foster the pedestrian ambience downtown. It's a positive entertainment venue that will tie into our central business district and tourism traffic.'' Jack R. Crosby, Chairman and Chief Executive Officer of CinemaStar, stated, ''The new San Bernardino 20-Plex is an exciting project. CinemaStar will be the first company to introduce a state-of-the-art theater to the downtown market. With 20 screens, CinemaStar will provide the best film entertainment available in a premium environment. Residents of central San Bernardino will have easy access to high quality entertainment located in their own neighborhood. We strongly believe that this will be a highly successful location that contributes to the ongoing revitalization of downtown San Bernardino.'' Mr. Crosby continued, ''This addition increases the number of screens operated by the Company to 99 and places us in an excellent position to reach or exceed our stated goal of doubling the Company's screen count every two years through the development of 16-24 screen megaplexes.'' The Company also reported the termination of a lease agreement pertaining to a proposed 16-screen theater in Oceanside, Calif. This project was cancelled due to the inability of the developer to finance the project under terms of the lease agreement. CinemaStar theaters provide the optimal motion picture experience by providing high-quality projection and sound capabilities, including LucasFilm THX Stereo Surround Sound environment systems, luxury seating, and extra-wide aisles. Further information may be obtained from the Company's website: www.cinemastar.com. The information contained in this press release contains certain forward-looking statements that involve risk and uncertainties, such as the statements of the Company's plan, objectives, expectations and intentions. The Company's actual results could differ materially from those indicated by such statements as a result of various factors, including those discussed in the Company's Form 10-KSB and Form 10-QSB on file with the SEC. -------------------------------------------------------------------------------- Contact: CinemaStar Luxury Theaters, Inc. Neil R. Austrian, Jr. 512/476-2995 or The Equity Group Inc.