Pyramid Saimira Group Enters China

* Becomes the first ever Indian entertainment company to enter China

Chennai, March 19, 2008: Pyramid Saimira Theatre Limited (PSTL) has now entered the Chinese market. The China Society of Music Research Board (CSMRB), Ministry of culture, Government of china and India's Pyramid Saimira Theatre Limited (PSTL) has signed an Arts & cultural cooperation agreement by which CSMRB and PSTL will take many measures to promote cultural cooperation between India & China. PSTL will bring cultural specialist in the field of Arts, Film, TV, Music & Dance. CSMRB will also offer policy guidelines and business consultations for PSTL's foray in China's cultural industry.

Further to the agreement above, a new joint venture company Jiangsu Pyramid Longzhe Group supported and approved by China Society Music Research Board (CSMRB), which is under the Ministry of Culture of the People's Republic of China, has been formed to operate theatres / distribute films and engage in other entertainment / arts & cultural activities in China.

The MOU between PSTL and CSMRB was signed at Beijing, in the presence of top delegate from the Chinese government. As part of cultural co relation agreement CSMRB & PSTL successfully presented Ey Aa O, a cultural exchange event between the two countries in Nanjing. As a part of the exchange, PSTL had brought a huge cultural delegation that had performed twice in Nanjing and their 3rd show was in Beijing on 19.3.08 at China Child Art Theatre Hall, Beijing. It is a matter of great pride for PSTL not only to enter China but also to organize for a cultural show in the year that the Olympics would take place.

China has a regulated entry on arts / culture / films and hence this entry of Pyramid Saimira group symbolizes the credibility the group enjoys and a dawn of new refigured entertainment industry in mainland china.

Mr. P S Saminathan, MD, Pyramid Saimira Group, said "It is a matter of great pride for our company, to sign the agreement with CSMRB. It is a great honor to pyramid Saimira group to get entry into china's highly regulated growing culture & entertainment industry. Pyramid Saimira always believed in faster growth and expanding in uncharted territories. China has great entertainment potential given the growing affordability of the entire population and the willingness of new generation to avail multi faceted entertainment product & services. We will create a huge theatre chain network/ food courts/ gaming parlors and offer other entertainment services. We will also bring international content to china and will also showcase and market local Chinese content across the world. This entry will strengthen the growing Exhibition & content business of our group and will in a very short time make us the largest exhibitor in the world. "

Mr. Venkat, COO of the Group's Chinese venture, said "We plan to add one screen a working day in main land china and will also focus on non box office revenues as well. We are extremely glad to partner with the Chinese government as well as the Jiangsu Longzhe Group, Nanjing, P R China in a quest to create a large world class entertainment network in China".

Expressing her happiness after the signing agreement between Jiangsu Pyramid Longzhe Group and CSMRB, Ms. Li, legal representative, Jiangsu Longzhe Group, said "We aim to provide international quality of entertainment with the support of China Society Music Research Board (CSMRB) to make this cultural exchange a grand success."

About Pyramid Saimira Group

Pyramid Saimira Group operates in 5 countries. It is a holistic Indian Multinational Entertainment Company. It is present in film exhibition, film distribution, film production, TV content production, advertisement, Gaming & Animation, media, Food & Beverages and Realty etc. It has around nine group companies namely, Pyramid Saimira Theatre Ltd., Pyramid Saimira Production International Limited, Pyramid Saimira Theatre Chain Malaysia., Sdn Bhd, Pyramid Saimira Entertainment Limited, Singapore, Pyramid Saimira Entertainment America, Inc., Saimira Realty Private Limited, Pyramid Saimira Production Services Limited, Dimples Cine Advertising Private Limited & Aurona Technologies Limited.

Its group holding Company, Pyramid Saimira Theatre Limited, is publicly listed in National Stock Exchange (NSE: PSTL) and Bombay Stock Exchange (BSE: 532791). In the exhibition sector, it has over 53 multiplexes with approximately 800 screens across India, Malaysia, Singapore and North America. By 2010, the Group plans to operate 175 multiplexes with 2,000 screens in India alone. By its own estimates, Pyramid Saimira ranks as the world's third largest cinema operator, based on its number of seats and admissions with nearly 4,36,000 seats as of January 2008.

About China Society Music Research Board (CSMRB)

CSMRB was founded in October 1987, a parent organization is People's Republic of China's Ministry of Culture, and the registration administrative unit is People's Republic of China's Bureau of Civil administration. It is also a national level organization for specialized Mass Media. CSMRB is headquartered in Beijing has a branch in Nanjing. CSMRB is a non "� profitable organization.

CSMRB is an organization that is engaged in development of Arts, Entertainment and Music in Mainland, such as small and big screen entertainment, live shows, cultural exchange, sports, theatre and various other arts and entertainment related areas.

About Jiangsu Longzhe group

Jiangsu Longzhe Group, (LZ) is a comprehensive body licensed to deal in diversified businesses, services and social activities for the development of China and the people of China. LZ is currently focused on 3 major divisions, i.e education, arts & culture and geoSynthetics. The Central Ministry has named LZ as an Advanced Company for over six years in a row, and LZ offers sizeable share of revenue as contribution to various Social Welfare programs in Mainland China approved by the Central Ministry.