ACCESS INTEGRATED TECHNOLOGIES JOINS NEW RUSSELL MICROCAP INDEX
MORRISTOWN, N.J. - June 29, 2005 - Access Integrated Technologies, Inc. ("AccessIT") (AMEX: AIX) announced today that it is scheduled to join the new Russell Microcap Index when the Russell Investment Group reconstitutes its family of 23 U.S. indexes. The Russell Investment Group, part of the Frank Russell Company, recently posted a preliminary list of additions to its indexes at www.russell.com/us/indexes/us/reconstitution/microcap_adds.asp. The newly reconstituted Russell U.S. indexes were effective at the close of the U.S. markets on June 24. On July 1, 2005, the final membership lists will be posted.
The Russell Microcap Index, comprised of the smallest 1,000 securities in the small-cap Russell 2000(R) Index plus the next 1,000 companies below the index, is based on a ranking of all U.S. equities by market capitalization. According to Russell Indexes, this new index is intended to offer managers and other investors a comprehensive, unbiased barometer to compare their performance against the genuine microcap marketplace of stocks.
"Since our IPO in November 2003, we have worked to build a company that will play a key role in enabling Hollywood's transition to digital cinema," said Bud Mayo, President and Chief Executive Officer of AccessIT. "Inclusion in the Russell Index recognizes the shareholder value we have been able to create through innovative technology and a keen understanding of the diverse needs of content owners and exhibitors."
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Companies in the Russell Microcap were ranked as of May 31, 2005 by total market capitalization and weighted based on free-float adjustment, an integral aspect of Russell index methodology. Free-float adjustment means stocks are weighted by their available market capitalization which is calculated by multiplying the primary closing price by the available shares.
Access Integrated Technologies, Inc. (AccessIT) is an industry leader in offering a fully managed storage and electronic delivery service for owners and distributors of digital content to movie theaters and other venues. Supported by its robust platform of fail-safe Internet data centers, AccessIT is able to leverage the market-leading role of its Theatrical Distribution System (TDS) with its innovative digital delivery capabilities and in-theatre software systems to provide the highest level of technology available to enable the emerging Digital Cinema industry to transition from film without changing workflows. For more information on AccessIT, visit www.accessitx.com.
Safe Harbor Statement
Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of AccessIT officials during presentations about AccessIT, along with AccessIT 's filings with the Securities and Exchange Commission, including AccessIT 's registration statements, quarterly reports on Form 10-QSB and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by AccessIT's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about AccessIT, its technology, economic and market factors and the industries in which AccessIT does business, among other things. These statements are not guarantees of future performance and AccessIT undertakes no specific obligation or intention to update these statements after the date of this release.
Suzanne Tregenza Moore
55 Madison Avenue
Morristown, NJ 07960
Joel Pomerantz or Michael Glickman
The Dilenschneider Group