Cinemark Holdings, Inc. Announces Pricing of Initial Public Offering


Cinemark Holdings, Inc., a leading motion picture exhibitor, today announced the pricing of its initial public offering of 28,000,000 shares of common stock at a price of $19.00 per share. Cinemark Holdings, Inc. is offering 13,888,889 shares of its common stock in this initial public offering, and selling stockholders are offering an additional 14,111,111 shares. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 2,800,000 additional shares of common stock if the underwriters sell more than 28,000,000 shares in the offering. Cinemark Holdings, Inc. will not receive any proceeds from the sale of shares by the selling stockholders.

The shares are scheduled to begin trading on the New York Stock Exchange on April 24, 2007 under the ticker "CNK."

Cinemark Holdings, Inc. intends to use the net proceeds that it receives from the initial public offering to repurchase a portion of its outstanding 9 3/4% senior discount notes or repay debt outstanding under its new senior secured credit facility. The Company's 9 3/4% senior discount notes are not currently subject to repurchase at its option. Accordingly, if Cinemark Holdings, Inc. is unable to repurchase the 9 3/4% senior discount notes at prices that it deems acceptable, the net proceeds that it receives from this offering will be used to repay term loan debt outstanding under its new senior secured credit facility.

The initial public offering is being led by Lehman Brothers, Credit Suisse, Merrill Lynch & Co. and Morgan Stanley & Co. Incorporated, acting as joint book-running managers. The offering will be made only by means of the written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained from:

Lehman Brothers                      Credit Suisse
Prospectus Department                Prospectus Department
c/o Qiana Smith                      One Madison Avenue
Broadridge                           New York, NY 10010
1155 Long Island Avenue              Telephone: (800) 221-1037
Edgewood, NY 11717           Morgan Stanley & Co. Incorporated
Fax: (631) 254-7268                  Prospectus Department
                                     180 Varick Street
Merrill Lynch & Co.                  New York, NY 10014
Prospectus Department      
4 World Financial Center
New York, NY  10080

A registration statement relating to these securities has been filed and declared effective by the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Forward-looking Statements

Cinemark Holdings, Inc. intends that this release be governed by the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995 (the "PSLR Act") with respect to statements that may be deemed to be forward-looking statements. Statements contained in this release other than statements of historical fact, including statements based on our current expectations, assumptions, estimates and projections about our business and our industry, are forward-looking statements. You can identify forward-looking statements by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions, which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Cinemark Holdings, Inc.'s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Forward-looking statements contained in this release reflect Cinemark Holdings, Inc.'s view only as of the date of this release. Cinemark Holdings, Inc. does not undertake any obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Cinemark Holdings, Inc.