LOS ANGELES, May 1 /PRNewswire-FirstCall/ -- Reading International, Inc. (NYSE Amex US: RDI) announced that it extinguished $22.9 million of its trust preferred securities debt yesterday. (Logo: http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO) As previously announced, Reading reacquired $22.9 million of its trust preferred securities in exchange for certain marketable securities during January and February 2009. As a result of the extinguished debt, Reading will recognize a gain on extinguishment of debt in the second quarter of approximately $11.5 million. The extinguishment of debt was effective when the reacquired securities and the debt were cancelled on April 30, 2009. About Reading International, Inc. Reading International (http://www.readingrdi.com/) is in the business of owning and operating cinemas and developing, owning and operating real estate assets. Our business consists primarily of: -- the development, ownership and operation of multiplex cinemas in the United States, Australia and New Zealand; and -- the development, ownership and operation of retail and commercial real estate in Australia, New Zealand and the United States. Reading manages its worldwide cinema business under various different brands: -- in the United States, under the -- Reading brand, -- Angelika Film Center brand (http://angelikafilmcenter.com/), -- Consolidated Theatres brand (http://www.consolidatedtheatres.com/), and -- City Cinemas brand; -- in Australia, under the Reading brand (http://www.readingcinemas.com.au/); and -- in New Zealand, under the -- Reading (http://www.readingcinemas.co.nz/) and -- Rialto (http://www.rialto.co.nz/) brands. For more information, contact: Andrzej Matyczynski, Chief Financial Officer Reading International, Inc. (213) 235 2240 http://www.newscom.com/cgi-bin/prnh/20030403/LATH058LOGO http://photoarchive.ap.org/ DATASOURCE: Reading International, Inc. CONTACT: Andrzej Matyczynski, Chief Financial Officer of Reading International, Inc., +1-213-235-2240 Web Site: http://www.readingrdi.com/ http://angelikafilmcenter.com/ http://www.consolidatedtheatres.com/ http://www.readingcinemas.com.au/ http://www.readingcinemas.co.nz/ http://www.rialto.co.nz/

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