Regal Entertainment Group Announces Proposed Offering of $250 Million of Senior Notes of Regal Cinemas Corporation

on May 05, 2010

KNOXVILLE, Tenn.,-- Regal Entertainment Group ("Regal") (NYSE: RGC), announced today that its indirect wholly-owned subsidiary, Regal Cinemas Corporation (the "Company"), plans to offer $250 million aggregate principal amount of its 8.625% senior notes due 2019 (the "Notes"). The Notes will be guaranteed by Regal and all of the Company's subsidiaries that guarantee the Company's existing credit facility. The Company anticipates that the offering will close on May 17, 2010, subject to customary closing conditions. The Company intends to use all of the net proceeds of the offering, together with the proceeds of a new senior credit facility that the Company intends to enter into concurrently with closing of the notes offering, (i) to repay all of the outstanding obligations under its existing senior credit facility, (ii) to repurchase all of the Company's outstanding 9.375% senior subordinated notes due 2012, (iii) to pay fees and expenses related to the offering and the new senior credit facility, and (iv) for general corporate purposes, which may include the repayment or repurchase of other indebtedness.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a prospectus and any prospectus supplements thereto.

Forward-looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements, including statements concerning the proposed offering of the Notes and the anticipated use of the net proceeds from such offering. Although Regal believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from Regal's expectations are disclosed in the risk factors contained in Regal's 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2010. All forward-looking statements are expressly qualified in their entirety by such factors.

Tags: Regal Cinemas

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