Alliance Atlantis Plan of Arrangement Completed


    TORONTO, Aug. 15 /CNW/ - Alliance Atlantis Communications Inc. ("Alliance
Atlantis" or the "Company") today announced that the previously announced Plan
of Arrangement has been completed and all of Alliance Atlantis's outstanding
shares have been acquired by AA Acquisition Corp., a subsidiary of CanWest
Media Works Inc. Under the terms of the Plan of Arrangement, the Company's
shareholders will receive CDN$53.00 in cash for each Alliance Atlantis share.
    In addition, Movie Distribution Income Fund (the "Fund") and Edgestone
Capital Partners ("Edgestone") announced today that the previously announced
definitive agreement to acquire the Fund's 49% interest in Motion Picture
Distribution LP has been completed. For further information on the
announcement made today by the Fund and Edgestone, please refer to their press
release or go to their website at
    "This is an historic milestone in the incredible journey that our Company
has experienced over the past three decades," said Michael MacMillan,
Executive Chairman of Alliance Atlantis. "On behalf of the Board of Directors,
I want to thank our shareholders, customers, employees, partners and
advertisers for their support over the years and I know that the new owners
share our commitment to build on the legacy of Alliance Atlantis."
    Alliance Atlantis shareholders who hold their shares through a broker or
other financial intermediary will receive payment of the purchase price for
their shares following the deposit by the broker or financial intermediary of
share certificates with Computershare Investor Services Inc., the Depositary
for the Plan of Arrangement. Shareholders who hold their Alliance Atlantis
shares in registered form will receive payment of the purchase price following
the deposit of their Alliance Atlantis share certificates with the Depositary
in accordance with the instructions contained in the Letter of Transmittal
previously sent to registered shareholders. Any questions regarding payment of
the purchase price, including any request for an additional copy of the Letter
of Transmittal, should be directed to the Depositary via telephone at
1-800-564-6253 (toll free in North America) or 514-982-7139 or via email at
    With the completion of the Plan of Arrangement, Alliance Atlantis's Class
A Voting and Class B Non-Voting shares will cease to be listed for trading on
the Toronto Stock Exchange.

    About Alliance Atlantis Communications
    Alliance Atlantis offers Canadians 13 well-branded specialty television
channels boasting targeted, high-quality programming. Alliance Atlantis also
co-produces and distributes the hit CSI franchise and indirectly holds a 51%
limited partnership interest in Motion Picture Distribution LP, a leading
distributor of motion pictures in Canada, with motion picture distribution
operations in the United Kingdom and Spain. Alliance Atlantis's shares are
listed on the Toronto Stock Exchange under the trading symbols AAC.A and
AAC.B. Alliance Atlantis's website is

    Forward-Looking Statements
    This news release includes forward-looking statements which reflect the
current expectations of Alliance Atlantis. Forward-looking statements are
those which are not historical fact. The reader should not place undue
reliance on such forward-looking statements. They involve known and unknown
risks, uncertainties and other factors that may cause them to differ
materially from anticipated future results or expectations expressed or
implied by such forward-looking statements. Certain risks, uncertainties and
other factors are described in materials filed by Alliance Atlantis with the
security regulatory authorities in Canada from time to time, which are
available at Alliance Atlantis undertakes no obligation to
publicly update or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise.

For further information:

For further information: Andrew Akman, Senior Vice President, Finance -
Corporate Development & Investor Relations, Alliance Atlantis Communications
Inc., Tel: (416) 966-7701, Email:; Jennifer
Bell, Vice President, Corporate & Public Affairs, Alliance Atlantis
Communications Inc., Tel: (416) 934-7854, Email:

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