/NOT FOR ISSUANCE OVER U.S. NEWSWIRE SERVICES/
CALGARY, Aug. 14 /CNW/ - Pursuant to National Instrument 62-103, Oaktree
Capital Management, L.P. ("OCM"), an indirect subsidiary of Oaktree Capital
Group, LLC, announces that on April 2, 2007 it obtained ownership and control
over approximately 8,810,716 units of Cineplex Galaxy Income Fund ("CGIF")
representing 20.4 % (on an undiluted basis) of the issued and outstanding
units as at that date. The CGIF units were received as a result of an exchange
of units of Cineplex Entertainment LP ("CELP") on a one to one basis. The
exchange was made for investment purposes only and not with the purpose of
influencing the control or direction of CGIF.
Prior to the exchange of units, OCM held joint ownership of the CELP
units through its indirect investment in Cineplex Odeon Corporation ("COC").
Indirect control of the CELP units was held by COC's indirect majority
shareholder Onex Corporation. These CELP units had been obtained on
November 26, 2003 in relation to the initial public offering of CGIF. In
connection with a corporate restructuring of OCM and its affiliates that
occurred at the end of May 2007, Oaktree Capital Group, LLC ("OCG") is now the
beneficial owner of the CELP units.
Subsequent to the above exchange OCM has sold, transferred or otherwise
disposed of 1,656,484 CGIF units. Currently OCG has ownership and control over
7,154,232 CGIF units, representing 16.5% (on an undiluted basis) of the CGIF
units currently issued and outstanding. OCG may acquire additional units of
CGIF from time to time.
About Oaktree Capital Management, L.P.
Oaktree Capital Management, L.P. is a premier global alternative and
non-traditional investment manager with approximately $47 billion in assets
under management as of June 30, 2007. The firm emphasizes an opportunistic,
value-oriented and risk-controlled approach to investments in distressed debt,
high yield and convertible bonds, specialized private equity (including power
infrastructure), real estate, emerging market and Japanese securities, as well
as mezzanine finance. Oaktree was founded in 1995 by a group of Principals who
have invested together since the mid-1980s. Headquartered in Los Angeles, the
firm today has approximately 395 employees and 10 offices worldwide.
For further information:
For further information: Richard Ting at (213) 830-6484, or