INDUSTRY VETEREN CHUCK GOLDWATER JOINS ACCESS INTEGRATED TECHNOLOGIES AS CHRISTIE/AIX PRESIDENT AND COO
MORRISTOWN, N.J. - August 1, 2005 - Access Integrated Technologies, Inc. ("AccessIT") (AMEX: AIX) today announced the appointment of Chuck Goldwater as President and COO of its newly created Christie/AIX business unit, effective August 1, 2005. A 30-year veteran of the motion picture exhibition industry, Mr. Goldwater most recently served as the Chief Executive Officer of Digital Cinema Initiatives ("DCI"), the consortium created by seven Hollywood studios to establish voluntary technical specifications and to facilitate the development of business plans and strategies to spur deployment of Digital Cinema systems in movies theatres.
AccessIT's Christie/AIX unit will serve as a funding vehicle and administrator for the company's 2,500-screen Digital Cinema rollout plan announced in June 2005. Under the plan, Christie/AIX will act as a financing intermediary between content owners - including major studios and independent distributors - and exhibitors who will receive turnkey, DCI-compliant Digital Cinema systems including 2K projectors and related hardware and software. In his new role, Goldwater will be responsible for administering and expanding the plan, taking a leading role in studio and exhibitor relations, and supporting further AccessIT's Digital Cinema development initiatives with other members of the company's management team worldwide.
"We are delighted that Chuck has agreed to join our company. There is no more qualified and well-connected industry figure to lead our Christie/AIX unit as we launch the largest Digital Cinema rollout anywhere in the world," said Bud Mayo, President and Chief Executive Officer of AccessIT. "For over three decades, Chuck has demonstrated his unique ability to understand the special needs of exhibitors and distributors alike. The major studios confirmed his competence and strong interpersonal skills when they chose him to lead their groundbreaking Digital Cinema Initiatives effort. We look forward to working with Chuck as a key team member."
Says Russell Wintner, President of AccessIT's Digital Media division, "Chuck brings an important set of skills and extensive experience to AccessIT. His appointment not only adds significant strength to our team, but it confirms once again, our strong commitment to DCI standards and the goal of interoperability. Chuck has been a friend for a long time and I am looking forward to working directly with him as we continue to develop AccessIT's products and services facilitating and supporting the industry's successful conversion to digital cinema."
Since he was appointed as the Chief Executive Officer of DCI, a joint venture created in March 2002 by seven film studios (Disney, 20th Century Fox, MGM, Paramount, Sony Pictures, Universal and Warner Bros Studios), Mr. Goldwater has been at the center of this film industry revolution. Prior to DCI, his 30-year career focused principally on the exhibition side of the film industry, where he held senior management positions with USA Cinemas and National Amusements, and with Loews Theatres. He served as President/CEO of Mann Theatres in Los Angeles and as President of Clearview Cinemas in New York. Earlier, he was President and CEO of Iwerks Entertainment. Goldwater has served as a Board member of the National Association of Theatre Owners (NATO), as Chairman of the CARA/Product Committee and as a member of NATO's Executive Committee. On the philanthropic side, he has also been active in a broad range of industry charity organizations.
Commenting on his appointment, Mr. Goldwater said, "I am excited to have the opportunity to join AccessIT. Bud and his team have created a unique and visionary company, whose products and services are playing a central role in the industry's now fast-moving transition to Digital Cinema. At DCI, we were focused on developing the technical specifications and practices that would begin to define the future of Digital Cinema. By joining AccessIT, I now have the opportunity to continue working with the studios, exhibitors, manufacturers, vendors, and other industry participants, overseeing the real-world deployment of digital cinema systems that will help create the next generation of the movie-going experience."
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
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Joel Pomerantz or Michael Glickman
The Dilenschneider Group