Regal Entertainment Group Announces Agreement to Acquire Consolidated Theatres

KNOXVILLE, Tenn.--(Business Wire)--Regal Entertainment Group (NYSE: RGC), a leading motion picture
exhibitor owning and operating the largest theatre circuit in the
United States, today announced that it has entered into an agreement
to acquire Consolidated Theatres for approximately $210 million in
cash.

The proposed acquisition will add a total of 28 theatres with 400
screens to Regal's portfolio and enhance Regal's presence in Georgia,
Maryland, North Carolina, South Carolina, Tennessee and Virginia. The
consummation of the acquisition is subject to customary closing
conditions.

"We expect the acquisition of Consolidated Theatres to be
accretive to cash flows and earnings and are pleased to announce an
agreement to purchase these high quality assets," stated Mike
Campbell, Chairman & CEO of Regal Entertainment Group. "Accretive
acquisitions are a key component of our overall business strategy and
we look forward to a successful closing and integration of the
Consolidated Theatre assets during the first half of 2008," Campbell
continued.

Forward-looking Statements:

This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements included herein, other than statements of historical
fact, may constitute forward-looking statements. Although the Company
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Important factors that could
cause actual results to differ materially from the Company's
expectations are disclosed in the risk factors contained in the
Company's 2006 Annual Report on Form 10-K filed with the Securities
and Exchange Commission on February 26, 2007. All forward-looking
statements are expressly qualified in their entirety by such factors.

About Regal Entertainment Group

Regal Entertainment Group (NYSE: RGC) is the largest motion
picture exhibitor in the world. The Company's theatre circuit,
comprising Regal Cinemas, United Artists Theatres and Edwards
Theatres, operates 6,355 screens in 526 locations in 39 states and the
District of Columbia. Regal operates theatres in all of the top 25 and
43 of the top 50 U.S. designated market areas. We believe that the
size, reach and quality of the Company's theatre circuit not only
provide its patrons with a convenient and enjoyable movie-going
experience, but is also an exceptional platform to realize economies
of scale in theatre operations.

Additional information is available on the Company's Web site at
www.REGmovies.com.

Regal Entertainment Group
Financial Contact:
Don De Laria, 865-925-9685
Vice President - Investor Relations
don.delaria@REGmovies.com
or
Media Contact:
Dick Westerling, 865-925-9539
Senior Vice President - Marketing
dick.westerling@REGmovies.com

Copyright Business Wire 2008