ACCESS INTEGRATED TECHNOLOGIES RANKS THIRD, RECOGNIZED FOR ACHIEVING 5,885% GROWTH OVER THE PAST THREE YEARS IN DELOITTE'S NATIONAL "FAST 50" PROGRAM
MORRISTOWN, N.J. - January 10, 2005- Access Integrated Technologies, Inc. ("AccessIT") (AMEX: AIX) has been ranked third in the United States as a "Rising Star" in Deloitte's Technology Fast 50 Program. This latest designation comes on the heels of the New Jersey-based technology company's earlier first-place ranking as a "Rising Star" in the Garden State.
The "Rising Star" award recognizes fast-growth technology companies that have been in business less than five years and is part of Deloitte's Technology Fast 500 Program, ranking the 500 fastest-growing technology companies in the United States. Rankings are based on the percentage of growth in fiscal year revenues over the preceding three years (2001 to 2003).
Since its inception, AccessIT has grown organically and through acquisition into a comprehensive provider of software and services for the emerging digital cinema marketplace. Most recently, AccessIT introduced its unique International Theatrical Distribution System, a global version of the domestic industry standard, Theatrical Distribution System (TDS). The new International TDS can be used in 26 territories around the world and similar to its domestic predecessor, it simplifies release scheduling, film print tracking, electronic box office reporting and settlement accounting. The System seamlessly connects with the company's Digital Express e-Courier Services allowing for simultaneous International digital delivery of a movie. The technologies AccessIT has developed are poised to revolutionize the way movies are distributed around the world.
AccessIT has made 10 acquisitions including the movie distribution industry's leading software provider, Hollywood Software, the assets of Boeing Digital Cinema, a division of the Boeing Company, the assets of FiberSat Global Services, a satellite uplink provider, and the recently announced planned acquisition of the Pavilion Theater in Brooklyn, New York which will serve as a showplace for AccessIT to demonstrate all of its capabilities.
"Recognition as a Fast 50 'Rising Star' and one of the fastest growing technology companies in North America, is an impressive accomplishment. We commend AccessIT for its 5,885% growth over the past three years. It is truly an achievement," said Mark A. Evans, national managing partner of Deloitte's Technology, Media & Telecommunications Group.
"We were honored earlier in the year to be recognized as the top Deloitte Fast 50 company in New Jersey - being selected as third in the United States is truly a crowning achievement. I'm proud to see AccessIT listed among other successful companies like Akamai Technologies, Inc., iBasis, Inc., and ITXC, Corp. (now Teleglobe), all former Deloitte Fast 50 companies. We look forward to continued success and growth," said Bud Mayo, Chief Executive Officer of AccessIT.
To qualify for the Technology Fast 50 "Rising Star" program, companies must have had operating revenues of at least $50,000 in 2001 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology. For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast500.com.
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.
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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