Cinema City International N.V. October 2008 We Build Cinemas for Millions of People

1 History in Brief

Phase II Phase I Phase III Initiation of operations Entry into rapidly developing CEE markets Stabilise leading position in CEE while Leading position in Israeli market Becoming #1 exhibitor entering Bulgaria and Romania

First Dec ‘07 First multiplex New Age Forum First cinema in CEE Media Film cinemas in in Haifa (Hungary) Hungary Romania

Israel’s Launch in Entr y into Dec ‘06 first Poland Bulgaria IPO on multiplex and Czech WSE

1931 1982 1995 1997 1999 2002 2003 2005 2006 2007

Modern Agreement Forum Start multiplex with Film Bulgaria chain Imax Poland operation in Israel Corporation Acquisition Entry New Age of Ster into Media Century Romania Hungary in Poland 2 Cinema City Shareholding Structure

I.T. International Theaters Other shareholders 19,58%

Commercial Union OFE 5,51% 50 834 000 BZ WBK AIB 5,23% shares Asset Management 5,31% 64,37%

ING Nationale Nederlanden Polska OFE

3 Cinema Chain

60 theaters 552 screens 111 K seats 8 IMAX

46 theaters 480 screens 6 under development under development countries

Poland Hungary Screens under Screens under development - development - 99 13 Israel Poland Czech Republic 113 269 Screens under Romania 21% 49% development- 8 Screens under development - 285 Romania 12 2% Bulgaria 13 2% Israel The Czech Bulgaria Screens under Rep. 43 Screens under development - Hungary 102 20 8% development– 52 18%

4 CEE Cinema Market Underpenetration

USA FIN 4,8 admissions per capita S N 1,2 population per screen 1,7 2,6 EE 1,2 IRL DK LV 0,7 2,3 4,3 UK LT NL 0,7 2,9 B 1,3 PL D 2,3 0,8 1,4 3,0 admissions per capita CZ 1,1 F SK population per screen 0,4 2,8 CH A 2,1 2,1 HU 1,1 RO I 0,1 HR 1,8 YU P E 0,7 BG 1,5 0,5 2,6 0,4

GR 1,1 1,1 Media Salles, country cinemagoing statistics and CY CCI calculations – data for 2006&2007 5 Cinema City Business Model

► Cinema City operates 5 business lines in 6 countries

Film DVD Cinemas Advertising distribution Real estate distribution

Poland IT Poland - 269 screens Development Hungary - 102 screens Czech Rep. -- 43 screens

Israel Development 113 screens IT Plovdiv Bulgaria - IT Ruse - 13 screens IT Stara Zagora Romania --- 12 screens 6 Cinema City’s Growth Has Been Sustained by Strong Demand for Modern Entertainment Venues

x 10

1997 Today 2011* 95 screens 552 screens 1032 screens 1 country 6 countries 6 countries

* Based on signed agreements as of September 2008 and without considering any new territorial expansion 7 Cinema City Countries

8 Cinema City in Poland

2008-2011 openings pipeline 24 sites 269 screens 58 200 seats 5 IMAX ®

BYDGOSZCZ 13 opened ZIELONA GORA 9 1 2008 22 1 Gdańsk RZESZOW 10 BIELSKO BIALA 8 Bydgoszcz BYTOM 8 Toruń 1 PŁOCK 8 1 Płock 2 KRAKÓW BONARKA 20 1 GDANSK NOWE MIASTO 19+IMAX Poznań 6 CZESTOCHOWA 10 Zielona Góra WALBRZYCH 6 1 1 Łódź 2009-2011 89 1 Wrocław Ruda Śląska 1 1 1 Lublin 1 Częstochowa CCI market share in 1 1 Bytom 1 1 Sosonowiec no of multiplex screens Walbrzych Gliwice KatoKatowicewice 1 2 Rzeszów Rybnik 3 1 1 1 Cinema & Kraków Bielsko Biała City Kinoplex Existing cinemas 52% 18% Signed projects

Other activities: &Silver 1. New Age Media – on screen advertising Screen 2. Forum Film Poland – Walt Disney and other leading film studios 30% 3. IMAX ® and Cinemapark – entertainment and education 9 Cinema City in Hungary Next CC in Budapest: Budapest Skala Center with 13 screens Expected Opening: 2009 12 sites 1 IMAX ®

102 screens 19 000 seats CC Arena

1 Miskolc

Budapest Debrecen 1 Gyor 1 1 1 1 CC Skala Sopron Veszprem 1 1 1 Alba SzSzolnokolnok 1 1 Savaria Zala Szeged Pecs 1 1 CC market share in number of multiplex screens (including CC Arena) Existing cinemas

Signed projects Cinema City 47% Other activities: Palace Cinemas 50% 1. New Age Media – on screen advertising started in 2007 2. Forum Film Hungary – Walt Disney and other leading film studios Budapest 3. Home Entertainment – Warner, Sony and others Film 3% 10 Cinema City in the Czech Republic

2008 openings pipeline 5 sites 43 screens 8 289 seats 1 IMAX ®

2008 no of screens opening Pilzen 10 opened Pardubice 8 2H08

Prague

4 Pardubice 1 1 Pilzen

Existing cinemas

Signed projects

Other activities: 1. NAM Czech Republic 2. DVD distibution 11 Cinema City in Israel

16 sites 113 screens 21 000 seats 2008-2009 openings pipeline

Other activities: Modein 6 opened 1 Haifa 23 opened 2008 29 Haifa Rishon LeZion 20 (net) 2009 1.Forum Film – Walt Disney and 2009 20 other leading film producers 1 2.Blockbuster – DVD rentals 1 1 3.Home Entertainment – 1 Warner, Sony and others CCI market share in 6 TelTel--AvivAviv 4.Screen Advertising 1 no of multiplex screens

1 1 1 1 Jerusalem Lev 7% CC 12% Cinema City brands: 1 Planet & Rav-Chen 42%

Globus 39% Existing cinemas

Signed projects The Cinema City brand in Israel is registered by another owner; CCI operates under the ITIT brand: Planet & Rav-Chen 12 Romania

2 sites 12 screens 1 800 seats 2008 openings pipeline

Botosani screens opening Baia Mare 1 Suceava Cluj 10 2H08 1 Iasi 1 1 Bacau 8 2H08 1 Bistrita Pitesti 6 2H08 Cluj 1 1 2008 24 1 1 Targu Mures 1 Bacau Oradea Sibiu Focsani 2 1 Galati 2 Arad Deva 1 Targoviste Braila 1 Timisoara 1 1 Pitesti Ploiesti 1 1 2 Bucharest 285 screens Craiova 5 in the investment pipeline: 2 2008: 24 screens 2009-2010: 261 screens Other activities: Existing cinemas Projects signed 1. New Age Media – on screen advertising started in 2007

13 Bulgaria

1 site 13 screens 2009-2010 openings pipeline

2 900 seats 1 IMAX ® screens opening Plovdiv 8 2009 Ruse 8 2010 Varna 12 2010 Burgas 10 2010 Stara Zagora 8 2010 Stara Zagora 6 2011 1 Ruse Varna 1 2009-2010 52 Sofia 1 Stara Burgas 52 screens Zagora 2 1 Plovdiv in the investment pipeline 1 in 2009-2010.

Existing cinemas Projects signed

14 Cinema City Cinema Advertising Model (continuing the evolution beyond traditional cinema exhibition)

on screen off screen sponsorship

► Potential to capture 6 countries with over 50 large cities ► On Screen Advertising market in Poland poised for growth: > grew by 20% to estimated PLN 70 m in 2007 ► Market share in Poland is already over 65% ► Operating in Hungary and in Romania since 2007 ► Signed Agreement with cinema circuits Helios and Kinoplex in July 2007 ► International contracts with Coca-Cola, Nestle, Ferrero Rocher

► The goal is to become the predominant on screen advertiser in CEE market

15 Real Estate Development

► Cinema City develops shopping centers with Cinema City multiplexes

► Secure the best locations on the market with slower shopping centers development ► Capitalize on real estate development expertise gained in Poland and Bulgaria ► Stabile base of tenants signing lease agreements in each shopping center ► Contribution to financial results

Mall of Sofia, Sofia 2006 Mall of Plovdiv – opening planned for spring 2009

Mall of Ruse, construction start 2008 Plot in Stara Zagora 16 Cinema City Values Drive Our Growth

People with passion for cinemas and movies

Mooky Greidinger, CEO Experience

Integrity Amos Weltsch, COO

Expansion minded with best know how in entering new markets Israel Greidinger, CFO

17 Cinema City Opportunities and Risks

opportunities risks

 leveraging upon strong corporate  number of films released brand and market position  strong perspective on existing and  quality of films potential markets  access to suitable site locations  experienced management team  local economic performance  proven business partners including premier regional shopping mall developers  high quality theatres, experience and service  digital cinema

18 Digital Cinema City

Journey to the Center of the Earth ► 100 digital projectors to be installed in 2008 and 2009 including 15 installed in 1H 2008.

► Digitalization expenses of EUR 3.3 million in 2008

► Broader range of content will bring additional audience

► Digital 3D cinema in regular halls

► First digital and digital 3D films shows in Israel successfully started with Wall-E and Journey to the Center of the Earth .

► Digital shows will start soon in Hungary and Poland

Going digital: 15/50 projectors installed Israel 8 Hungary 4 Poland 3 * as at end of June 2008 19 Cinema City Poised to Expand into New Countries

Today, Cinema City is developing a cinema chain for 100 million people in 6 countries …

Ukraine …while Cinema City currently evaluates the opportunity to expand in to 2 additional countries with 60 million people…

Serbia …and also further researches the potential of expanding into more territories in the region and into countries very distant from CEE.

20 And More Opportunities in New and Even Larger Potential Markets

Western Eastern option: option: 370 m 1.4 b people people CC in CEE region 160 m people

21 Cinema City Financial and Operating Results Cinema City Growth Story

in € m 161.3 144 1H 2008/2007* CAGR 2002-2007 Revenues +14,6% Revenues 10,4% EBITDA +21,4% 92.0 EBITDA 15,2%

108 Net profit +12,5%

Net profit 16,6%

96 96 99 80.3

89

34.6 31.2

24.0 21.9 21.4 16.6 18.0 15.8 11.7 14.8 10.6 9.5 5.0 7.7 2.2 3.9

20022003 2004 2005 2006 2007 1H 2007 1H 2008 * non-audited 23 Cinema City Balance Sheet

As at As at change 30 Jun 2008 30 Jun 2007 %

equity 175 242 143 538 22,1%

debt 65 097 49 797 30,7%

cash 7 764 8 701 -10,8%

net debt 57 333 41 096 39,5%

net debt/equity 0,33 0,29 4,0%

24 Revenues Breakdowns by Countries and by Segments

2007 2007 Theater operations Real estate Hungary breakdown (% of total sales) :

Film distribution 6,46% Bulgaria Ticket sales 49.4% Consessions 14.5% 14,20% Advertising 13% Romania DVD Poland retail € 161.3 m € 161.3 m 2,40% Israel 76,94%

Czech Rep.

2006 2006 Hungary Real estate Theater operations breakdown (% of total sales) :

Bulgaria Ticket sales 46.9% Film Consessions 12.44% Poland € distribution Advertising 9.6% 143.8 m € 143.8 m

Israel DVD retail

25 Czech Rep. Cinema City Romania – Initial Indicators after 6 Months of Operation

► Romania cinemagoing indicators for 1H 2008 show positive start in secondary cities

Czech CCI Poland Israel Hungary Bulgaria Romania Rep.

Admissions/screen 37.47 47.36 23.58 25.94 35.53 51.54 38.83 in thousand

Average ticket price 4.60 4.79 5.24 3.60 4.89 3.17 3.12 in €

26 Thank you