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Los Angeles, CA and Morristown, NJ—Nov 11, 2010

Cinedigm Digital Cinema Corp. Receives Commitment Letters for Non-Recourse Phase 2 Borrowing Facility

Societe Generale, Natixis and Macquarie Equipment Finance to Provide up to $110.0 Million; Funds to Support up to 2,100 Digital Cinema System Conversions
Cinedigm Digital Cinema Corp. (NASDAQ:CIDM), the global leader in the digital cinema industry, today announced that its non-recourse Phase 2 subsidiary has received commitment letters from Société Générale and Natixis for a senior credit facility totaling $75 million with flexibility to expand up to $86 million through syndication, and from Macquarie Equipment Finance ("Macquarie") for up to $23 million of junior capital. Closing is targeted for late 2010 with deployments commencing in the first quarter of 2011. This Phase 2 facility will deploy up to 1,800 - 2,100 digital systems, with projectors being provided exclusively by Barco and NEC.

These new commitment letters address both senior and junior capital requirements of a non-recourse borrowing facility which Cinedigm can offer to exhibitors to provide a complete financing solution. Under the terms of the facility, Macquarie will own title to the equipment and consolidate the revenues, earnings, assets and debt related to the deployments. Cinedigm will be the servicer for the digital systems, will license systems to exhibitors and will work closely with studios and the lenders to oversee the smooth deployment during 2011 and early 2012, as well as the ongoing management of these digital systems.

"We are pleased with the confidence in our company as indicated by these significant commitments from Société Générale, Natixis and Macquarie," said Adam M. Mizel, interim co-Chief Executive Officer and Chief Financial Officer of Cinedigm. "Given the growing momentum for digital cinema this year, our exhibitor partners are rapidly changing over to digital and requiring innovative financing solutions. These commitments will allow Cinedigm to further accelerate its Phase 2 deployments and enable exhibitors to capitalize on the advantages of digital cinema, such as 3D movie releases and exciting alternative content offerings."

"We are pleased to reaffirm our support for Cinedigm's digital rollout, together with our Joint Lead Arranger, Natixis," echoed Richard Knowlton, Managing Director, Société Générale Corporate and Investment Banking. This commitment expands and replaces the proposed facility from Société Générale and GE Capital for $100 million, reported in October of 2009.

Commitments by Société Générale Corporate & Investment Banking, Natixis and Macquarie are subject to certain closing conditions, including the execution of loan documentation satisfactory to Société Générale, Natixis and Macquarie and Cinedigm's Phase 2 subsidiary.

Cinedigm's Phase 2 subsidiary unit serves as the funding vehicle, administrator, and technology integrator for the company's 10,000-screen digital cinema rollout plan. Phase 2 acts as the administrator and financing intermediary between content-owners -- major studios and independent distributors, among others, equipment vendors and exhibitors who will receive turnkey, Digital Cinema systems in conformance with DCI specifications, including 2K DLP Cinema® projectors and related hardware and software. Since 2005, Cinedigm, through its Phase 1 and Phase 2 digital cinema subsidiaries, has participated in the installation of over 6,000 digital cinema systems and has been contracted to install 420 systems in the coming months with Dickinson Theatres and Cobb Theatres.
Cinedigm's Phase 2 has been selected as the integrator of choice by the National Association of Theatre Owners' Cinema Buying Group whose 600 plus members own more than 8,000 theatre screens around the United States.
About Cinedigm: Cinedigm Digital Cinema Corp. is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, state of the art distributor and exhibition software, and marketing and distribution platform for alternative content and independent films are a cornerstone of the industry's digital cinema transformation. With the April acquisition of New Video, the world's largest aggregator of independent digital content and leading distributor of quality entertainment, CIDM has created a new full service end-to-end digital studio, enabling the Company to acquire and distribute independent films and specialty content both theatrically and via digital, mobile and home media platforms. Cinedigm Directory page
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