PVR ANNOUNCES A JOINT VENTURE WITH MAJOR CINEPLEX GROUP, THAILAND PVR Blu-O to bring lifestyle entertainment concepts to India

PVR ANNOUNCES A JOINT VENTURE WITH MAJOR CINEPLEX GROUP, THAILAND PVR Blu-O to bring lifestyle entertainment concepts to India PVR Limited & Major Cineplex Group Plc. today signed a Joint Venture agreement to bring lifestyle entertainment concepts to Indian consumers. The Joint Venture would set-up bowling alleys, karaoke centers, ice skating rinks and gaming zones across the country to enhance the out of home entertainment experience for Indian consumers. The Joint Venture was signed in Bangkok between Mr. Vicha Poolvaraluck, Chairman of Major Cineplex Group Plc. and Ajay Bijli, Chairman and Managing Director of PVR Ltd. This venture plans to set up 150 – 200 lanes in the next three years in key cities across India. Commenting on the Joint Venture, Mr. Ajay Bijli said “This is another step towards our continuous effort to evolve PVR from a filmed entertainment company to a retail entertainment player with a focus to enhance the out of home entertainment experience for our patrons”. “We aim to provide world-class lifestyle entertainment concepts to the Indian consumers, tapping on the changing consumer preference patterns owing to increased exposure to global standards. PVR Blu-o will bridge the gap of higher aspirations vis-?-vis lack of organized out-of-home-entertainment experience in India, which will provide a further fillip to leisure related activities”, Ajay further added. PVR Blu-o intends to set up bowling alleys, karaoke centers, ice skating rinks and gaming zones in and around its multiplexes to complete the out of home experience for Indian consumers. PVR plans to cater to the evolving tastes of today’s Indian consumers where there has been a significant increase in consumption expenditure due to rising disposable incomes on account of sustained growth in all income levels. The Company had earlier signed an MOU with Lite Bite Concepts (P) Ltd. to set up food courts across the country. With its entire basket of retail entertainment options, the company is now uniquely positioned as a One-Stop shop for offering retail entertainment concepts to various mall developers across the country. “We are truly honored to have Major Cineplex Group as our partner in this venture. They have a rich and valuable experience of operating these centers in the Thailand market and PVR will greatly benefit from the wealth of experience brought in by Major Cineplex Group to this Joint venture”, said Mr. Sanjeev Bijli, Joint Managing Director, PVR Ltd. Commenting on the partnership, Mr.Vicha Poolvaraluck Chairman of Major Cineplex Group Plc. said ” I decided to joint investment with PVR Limited the cinema operator in India, which is incorporated and listed in the Indian Stock Exchange. The purpose of setting up this new joint venture company is to operating bowling business in India. The capital of the new joint venture is approximately 90,000,000 INR. PVR Limited will invest in the proportion of 51% and Major Cineplex Group Plc will invest in the proportion of 49% or approximately Baht 38,600,000 (using the exchange rate of BOT on February 8th, 2008 at Baht 1 : 0.8750 INR). With its first time abroad Major Cineplex will introduce their fashion bowling brand under the name of Blu-O Rhythm & Bowl, which is well know operator of bowling and karaoke in Thailand to Indian market. According to the research the Indian economy has the potential to growth largely in the near future similar to Thailand in the past 15 years. The lifestyle of an Indian consumer also enhancing the growth of lifestyle entertainment business and the company’s is also ready to expand abroad. The company’s choose to joint investment with PVR Limited because PVR Limited is engaging in the similar core business as the cinema operator and films distributor. Also the investment cost is reasonable at approximate US$ 1 million. For first phase of investment the company’s will build 18 bowling alleys under the brand Blu-O Rhythm & Bowl and hope to expand up to 150 alleys within the next 3 years” About PVR Ltd. PVR is one of the largest and most premium filmed entertainment company in India. The Company pioneered the multiplex revolution in India by establishing the first multiplex cinema in 1997. Currently, the Company operates a cinema circuit consisting of 24 cinemas with a total of 95 screens spread over 14 key cities in India. With approx. 20 million patrons visiting PVR multiplexes annually, PVR is one of India’s most recognized film exhibition brands. PVR’s service offerings include low-cost multi-screen cinemas that offer superior ambience and high hygiene standards for consumers in Tier 2 cities; branded as ‘PVR Talkies’ at one end of spectrum. On the other hand, the Company has launched the premium brand of multiplexes called "PVR Premiere" which is going to address the esteemed urban consumers with facilities like 180-degree leather upholstered reclining seats, personalized menu, lounge areas, and many such services. The company also operates a film distribution and production business through its 100% subsidiary, PVR Pictures, which is involved in production of films across genres and distribution of Indian and international films across India. The Company is currently listed at Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India. About Major Cineplex Group PLC. Major Cineplex Group PLC is a leading provider of an ultimate lifestyle entertainment in Thailand. The company offers a wide variety of recreation and leisure facilities including cinemas, IMAX, bowling, karaoke, ice skating rink, fitness clubs, lifestyle shopping centers, advertising media and in-home entertainment. Major Cineplex is a dominant market leader with a market share of over 75% in Thailand cinema industry providing lifestyle cinemas as well as distribution channels and marketing activities for theatrical release and home entertainment consumption, including VCD, DVD and cable television. Its bowling and karaoke is a unique sport entertainment with cosmic bowling equipment. Also, its fitness club, California WOW! Xperience, has developed an extraordinary exertainment concept operating with world-class standards. Siam Future Development lifestyle neighborhood shopping malls offer wide variety and fulfill the lifestyle needs and demands of customers with selected trendy shops and restaurants. To broaden its network of lifestyle entertainment portfolio as well as establishing partnerships for sustainable future growth, MAJOR also invests: 1. 21.2% stake in Siam Future Development Plc (SF), a lifestyle-neighborhood-mall developer, 2. 36.7% stake in California WOW Xperience Plc (CAWOW), an “exertainment” fitness club operator, 3. 40.0% stake in Thai Ticket Major Co., Ltd. (TTM) a ticketing sales channels (i.e. concerts, sports events, transportation, etc.), 4. 33.0% stake in Major Cineplex Lifestyle Property Fund (MJLF) a real-estate investment trust (REIT) set up as a vehicle for the Group’s expansion, and 5. 40.8% stake in Traffic Corner Holdings Plc. (TRAF) a media & film distribution company Major listed on the Stock Exchange of Thailand in May 2002 and received Asia money magazine’s 11th annual award for Best Newly Listed Company in 2002 for Thailand For further information, please contact : Public Relations Department Major Cineplex Group Plc. Tel. 02-511-5427-36 ext. 532, 533 Fax. 02-511-5821 Click for photo release at www.thaipr.net

• ข่าวMAJOR CINEPLEX
• ข่าวJoint Venture
• ข่าวo:ent
• ข่าวen