August 9, 2007

Access Integrated Technologies, Inc. Announces Fiscal 2008 First Quarter Results

- Revenue Growth and Adjusted EBITDA Margin Increase Continues, Driven by New and Existing Product and Service Offerings -

MORRISTOWN, N.J., Aug 09, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --

Access Integrated Technologies, Inc. ("AccessIT" or the "Company") (Nasdaq: AIXD) reported a 225% increase in revenues, to a record $18,146,000 for the first quarter of fiscal 2008 ended June 30, 2007, versus the year-ago period. In the quarter, the Company posted an Adjusted EBITDA(1) (defined below) of $6,102,000, and a net loss of $6,843,000 or $0.28 per basic and diluted share. The net loss includes non-cash expenses for depreciation, amortization of intangible assets and software development, non-cash interest and stock based compensation aggregating $8,497,000 or $0.34 per basic and diluted share.

    First Fiscal Quarter Highlights
    -- Revenues for the first quarter increased by 225%, to $18,146,000 from
       $5,576,000 in the comparable year ago period driven largely by VPF
       revenues, delivery fees, software license fees for our Theatre Command
       Centre(TM) software and contributions from our acquisitions of
       UniqueScreen Media and The Bigger Picture.
    -- The increase in Adjusted EBITDA(1) was primarily due to the increased
       revenues as described above, partially offset by increased operating
       and SG&A expenses resulting from the acquisitions of USM and The Bigger
       Picture.
    -- Loss From Operations in the June 2007 quarter decreased to $1,309,000,
       from a loss of $2,417,000 in the year ago period.  The decreased loss
       was due primarily to higher revenues partially offset by increased
       depreciation and additional amortization of intangible assets resulting
       from the acquisitions of UniqueScreen Media and The Bigger Picture.
       Non-cash charges included in loss from operations for the year
       aggregated $7,411,000.
    -- Gross Margin (revenue less direct operating expenses) increased from
       60% in our recently completed fourth quarter to 66% in this first
       quarter.
    -- Adjusted EBITDA(1) margins improved from negative 4% in the prior
       year's first quarter, and from 19% in our recently completed fourth
       quarter, to 34% in this quarter.
    -- As of June 30, 2007, the Company had installed 2,692 digital cinema
       systems and 2,851 as of July 31, 2007 and intends to complete 4,000
       digital cinema systems installations by October 31, 2007.

Bud Mayo, Chief Executive Officer of AccessIT, stated, "the first quarter outcome shows our increased focus on internal growth and bottom-line improvements. The continued success of our digital cinema deployment is helping to feed the growth of our four other divisions. We anticipate that increases in revenues and Adjusted EBITDA margins along with decreases in Loss from operations will continue throughout this Fiscal year."

    (1) Adjusted EBITDA is defined by the Company to be earnings before
        interest, taxes, depreciation and amortization, other income
        (expense), net, stock-based compensation and non-recurring items.
        Adjusted EBITDA is presented because management believes it provides
        additional information with respect to the performance of its
        fundamental business activities.  A reconciliation of Adjusted EBITDA
        to Generally Accepted Accounting Principles ("GAAP") net income is
        included in the table attached to this release.  Adjusted EBITDA is a
        measure of cash flow typically used by many investors, but is not a
        measure of earnings as defined under GAAP, and may be defined
        differently by others.


CONFERENCE CALL NOTIFICATION

AccessIT will host a conference call to discuss its financial results at 10:30 a.m. EDT on Thursday, August 9, 2007. The conference can be accessed by dialing 913.981.5550, at least five minutes before the start of the call. No passcode is required. The conference call will also be webcast simultaneously and will be accessible via the web on AccessIT's Web site, www.accessitx.com. A replay of the call will be available after 1:00 p.m. eastern at 719.457.0820 or 888.203.1112, passcode 8182348. The replay will be accessible through Thursday, August 16th.

Access Integrated Technologies, Inc. (AccessIT) provides theater operators the first and only studio-backed digital cinema system delivering nearly three million digital screenings of Hollywood feature films to date. The company's fully networked digital cinema system provides feature films and alternative content via satellite to expand box office sales and develop new ways to attract incremental revenues. Through its alternative content division, The Bigger Picture, AccessIT offers channels of programming including Kidtoon, Faith Based, Music and Anime. The ongoing 4,000-screen deployment is the largest of its kind in the world. Access Integrated Technologies(R) and AccessIT(TM) are trademarks of Access Integrated Technologies, Inc. For more information on AccessIT, visit www.accessitx.com. [AIXD-E]

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.

    Contact:
    Suzanne Moore              Trent Freeman
    AccessIT                   Casey Sayre & Williams
    973.290.0080               (310) 396-2400
    smoore@accessitx.com



                     ACCESS INTEGRATED TECHNOLOGIES, INC.
                    CONSOLIDATED STATEMENTS OF OPERATIONS
             (In thousands, except for share and per share data)
                                 (Unaudited)

                                                        Three Months Ended
                                                             June 30,
                                                        2006           2007
                                                     (Restated)

    Revenues                                           $5,576        $18,146

    Costs and expenses:
    Direct operating                                    3,422          6,206
    Selling, general and administrative                 2,486          5,558
    Provision for doubtful accounts                        19            186
    Research and development                               23            223
    Stock-based compensation                                -             87
    Depreciation of property and equipment              1,851          6,125
    Amortization of intangible assets                     192          1,070
          Total operating expenses                      7,993         19,455

    Loss from operations                               (2,417)        (1,309)

    Interest income                                       309            321
    Interest expense                                     (303)        (4,658)
    Non-cash interest expense                             (23)        (1,086)
    Other income (expense), net                          (168)          (111)

    Net loss                                          $(2,602)       $(6,843)

    Net loss per common share - Basic and diluted      $(0.11)        $(0.28)
    Weighted average number of common shares
     outstanding:
         Basic and diluted                         22,960,108     24,758,441

 Certain reclassifications of prior period data have been made to conform to
                          the current presentation.



                     Access Integrated Technologies, Inc.
                         Adjusted EBITDA (as defined)
                      Reconciliation to GAAP Net Income
                                (In thousands)
                                 (Unaudited)

                                                         Three Months Ended
                                                              June 30,
                                                         2006           2007

    Net loss                                          $(2,602)       $(6,843)
    Add Back:
       Amortization of software development               156            129
       Depreciation of property and equipment           1,851          6,125
       Amortization of intangible assets                  192          1,070
       Interest income                                   (309)          (321)
       Interest expense                                   303          4,658
       Non-cash interest expense                           23          1,086
       Other (income) expense, net                        168            111
       Stock-based compensation                             -             87
    Adjusted EBITDA (as defined)                        $(218)        $6,102



                     ACCESS INTEGRATED TECHNOLOGIES, INC.
                         CONSOLIDATED BALANCE SHEETS
                    (In thousands, except for share data)
                                 (Unaudited)

                                                    March 31,       June 30,
                                                      2007            2007
                       ASSETS
    Current assets
       Cash and cash equivalents                     $29,376        $28,049
       Investment securities, available-for-sale           -          1,500
       Accounts receivable, net                       18,504         20,299
       Unbilled revenue, current portion               2,324          2,054
       Prepaid and other current assets                1,988          2,097
       Notes receivable, current portion                 101            213
    Total current assets                              52,293         54,212

       Deposits on property and equipment              8,513          5,000
       Property and equipment, net                   197,452        222,986
       Intangible assets, net                         19,432         18,324
       Capitalized software costs, net                 2,840          2,994
       Goodwill                                       13,249         13,761
       Accounts receivable, net of current portion       248            248
       Deferred costs                                  4,627          4,510
       Notes receivable, net of current portion        1,227          1,108
       Unbilled revenue, net of current portion        1,221          1,278
       Security deposits                                 445            428
       Restricted cash                                   180            180
    Total assets                                    $301,727       $325,029

         Liabilities and stockholders' equity

    Current liabilities
       Accounts payable and accrued expenses         $28,931        $22,566
       Current portion of notes payable                2,480         24,325
       Current portion of customer security deposits     129            340
       Current portion of capital leases                  75             78
       Current portion of deferred revenue             8,871          8,198
    Total current liabilities                         40,486         55,507

       Notes payable, net of current portion         164,196        177,767
       Customer security deposits, net of current
        portion                                           54             53
       Deferred revenue, net of current portion          283            177
       Capital leases, net of current portion          5,903          5,882
    Total liabilities                                210,922        239,386

    Commitments and contingencies

    Stockholders' equity:
       Class A common stock, $0.001 par value per
        share; 40,000,000 shares authorized;
        23,988,607 and 24,207,564 shares issued and
        23,937,167 and 24,156,124 shares outstanding
        at March 31, 2007 and June 30, 2007,
        respectively                                      24             24
       Class B common stock, $0.001 par value per
        share; 15,000,000 shares authorized; 763,811
        shares issued and outstanding, at March 31,
        2007 and June 30, 2007, respectively               1              1
       Additional paid-in capital                    155,957        157,638
       Treasury Stock, at cost; 51,440 Class
        A shares                                        (172)          (172)
       Accumulated deficit                           (65,005)       (71,848)
    Total stockholders' equity                        90,805         85,643

    Total liabilities and stockholders' equity      $301,727       $325,029

 Certain reclassifications of prior period data have been made to conform to
                          the current presentation.

SOURCE Access Integrated Technologies, Inc.

Suzanne Moore of AccessIT, +1-973-290-0080, smoore@accessitx.com; or Trent Freeman
Casey of Sayre & Williams, +1-310-396-2400, for AccessIT
http://www.accessitx.com/

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