4 million in the 2004 quarter. The $3.7%.1%) from the project's budget. While the land use
issues are now resolved, individual development plans will need to be prepared
and approved for each of the phases, dealing with issues such as project
design and traffic management. However, they are
necessarily the product of internal discussion and do not necessarily
completely reflect the views of individual members of our Board of Directors
or of our management team. EBITDA is not a measure of
financial performance under the promulgations of generally accepted
accounting principles ("GAAP").

spirituality mandarin

The
first Genesis Program is scheduled for June 13 at a church community
east of Atlanta.
AAAZa will handle general advertising and media buying for PacifiCare's
Asian American Markets initiative. "We are creating multilingual Web sites with
specific and relevant health care information and developing educational
materials to address illnesses that most frequently affect the health of Asian
Americans.
Current client partners include Cathay Bank, Echostar, Toyota Dealers of
Southern California, MoneyGram and the American Cancer Society. Doing something is better ." and "Caring with devotion. * Revenue from continuing operations for the year was
up 15.1 million

* EBITDA(1) as reported for the year, was $19.newscom .

As a subsequent event, in February 2006, we completed the process of
rezoning our 50 -acre site in suburban Melbourne from an essentially industrial
zone into a priority zone permitting a wide variety of retail, entertainment,
commercial and residential uses. This
increase was driven by strong circuit showings of "Madagascar," "Star
Wars: Revenge of the Sith," "Charlie and the Chocolate Factory" and
"Harry Potter and the Goblet of Fire.2 million to $1.2 million in 2005 was driven
by the gain on sale of assets of $13.3
-----------
Difference $5.5 million compared to
$12.
Newmarket Shopping Centre -- On November 28, 2005, we opened the initial
retail elements of our Newmarket ETRC, a 100,373 square foot retail facility
situated on an approximately 177,500 square foot parcel in Newmarket, a
suburban of Brisbane. This increases our
worldwide screen count (calculated exclusive of unconsolidated joint venture
interests) from 220 screens in 33 cinemas to 223 screens in 34 cinemas.readingrdi. No guarantees can be given that our expectation
will in fact be realized, in whole or in part.
Finally , EBITDA is not calculated in the same manner by all companies
and accordingly, may not be an appropriate measure for comparing
performance amongst different companies. and Subsidiaries
Condensed Consolidated Statements of Operations (Unaudited)
(dollars in thousands, except per share amounts)

Year Ended December 31,
----------------------
2005 2004 2003
-------------------------------------------- ----------------------------
Operating revenue
Cinema $86 ,760 $74,324 $67,128
Real estate 14,310 13,078 9,556
------------------------------------------------------------------------
Total operating revenue 101,070 87,402 76,684
------------------------ ------------------------------------------------
Operating expense
Cinema 70,452 60,129 51,435
Real estate 7 ,359 6,948 7,379
Depreciation and amortization 12,384 11,823 10,952
General and administrative 17,247 14,824 12,757
---- --------------------------------------------------------------------
Total operating expense 107,442 93,724 82,523
------------------------------------------------ ------------------------

Operating loss (6,372) (6,322) (5,839)

Non-operating income (expense)
Interest income 209 843 807
Interest expense (4,682) (3,921) (3 ,374)
Net gain on sale of marketable
securities -- -- 235
Net gain (loss) on sale of assets (32) (114) 207
Other income 51 998 2,696
------------- -----------------------------------------------------------

Loss before minority interest ,
discontinued operations,
income tax expense and equity
earnings of unconsolidated
investments (10,826) (8,516) (5,268)
Minority interest 579 112 249
-------------------------------------- ----------------------------------
Loss from continuing operations (11,405) (8,628 ) (5,517)
Discontinued operations:
Gain on disposal of business
operations 13,610 -- --
Loss from discontinued operations (1,379) (469) (288)
------------------------------------------------------- -----------------
Income (loss) before income tax
expense and equity earnings of
unconsolidated investments 826 (9,097) (5,805)
Income tax expense 1,209 1,046 711
--------------------------------------- ---------------------------------
Loss before equity earnings of
unconsolidated investments (383) (10,143) (6,516)
Equity earnings of unconsolidated
investments 1,372 1,680 588
--------------------------------- ---------------------------------------
Net income (loss) $989 $(8 ,463) $(5,928)
========================================================================
Earnings (loss) per common
share - basic:
Loss from continuing operations $(0.

statement christianity

As one pastor
said to me after hearing about Genesis and deciding he wanted his
church to participate, 'Although our primary focus is on the spiritual
health and well-being of our congregation , it is often difficult for
our members to be as committed to spiritual matters as we would like
when they have financial matters pressing so hard against them. * Full-Service Agency to Manage PacifiCare 's Asian American
Markets Advertising Program

* Asian American Markets Offers Programs and Services Designed to Address the
Unique Health Care Needs of Asian Americans

CYPRESS, Calif.D."

About AAAZa Inc.
AAAZa Inc.

About PacifiCare
PacifiCare Health Systems is one of the nation's largest consumer health
organizations with more than 3 million health plan members and approximately
10 million specialty plan members nationwide.1 million, a 15.2 million compared to
$1. The cinema revenue increase of $3.0% from 76.4 million in 2005,
primarily due to realized currency transaction gains in 2004, not
repeated in 2005.6 million for the twelve months of 2005
was $10.1
-----------

Accordingly our 2005 adjusted EBITDA(1) from continuing operations, after
these differences, would have been $11. It is unlikely that the first of these
development plans will be ready for government review before the end of 2006. We
funded this acquisition through internal sources. See the "Supplemental Data "
table attached for a reconciliation of EBITDA to net income (loss).02) (0.37) $(0.01, 100,000,000 shares authorized,
35,468,733 issued and 20,990,458
outstanding at December 31, 2005 and
34,444,167 issued and 20,452,733
outstanding at December 31 , 2004 215 205
Class B Voting Common Stock, par value
$0 .

door regarding

"
The translation of the theme is "Caring with devotion.com,
where each page can be read in English , Chinese, Korean or Vietnamese.
"PacifiCare is going beyond simply translating member materials and
marketing collateral," he said.6%
compared to $23.6% increase.
General and administrative expense decreased by $265,000 or 6." In the US the $3.1 million compared to the $9.
Construction is currently anticipated to be complete by mid-2006, and
condominium units in the project are currently being offered for sale.
We currently anticipate that construction will be completed and the sale of
individual condominium units closed, during the second quarter of 2006.4 million).com) is in the business of
owning and operating cinemas and developing, owning and operating real estate
assets .

denominations handed

* Sold our Glendale, California office building for $20.4 million on
the sale side of a tax deferred real property exchange.5 million in 2004.0 million higher than last year), where higher
admissions were driven by improved access to film product subsequent to our
settlement with Universal and Fox of our Village East litigation. The primary driver for this was
improved expense control in all geographic locations.7709 and
$0.3 million at December 31, 2004. We have approached several
financing sources who have already given a high-level, favorable response to
this funding.

Real Estate Update
205-209 East 57th Street Associates, LLC -- During the first quarter of
2005, we increased our investment by $719,000 to $3.
Reading International (http://www.co.nz),
* Rialto (http://www. and Subsidiaries
Supplemental Data
Reconciliation of EBITDA to Net Loss (Unaudited)
(dollars in thousands, except per share amounts )

Statements of Operations
Three Months Ended Twelve Months Ended
December 31, December 31,
----------- -----------
2005 2004 2005 2004
------- ------- -- ------ -------
Revenue $25,884 $23,206 $101,070 $87,402
Operating expense
Cinema/real estate 20,288 18,306 77,811 67,077
Depreciation and amortization 2,975 3,349 12,384 11,823
General and administrative 3,768 4,033 17,247 14,824
------- ------- -------- -------
Operating loss (1,147) (2,482) (6,372) (6,322)

Interest expense, net (1,157) (1,304) (4,473) (3,078)
Other income (expense) 354 (420) 1,391 2,564
Income (loss) from discontinued
operations -- (8) 12,231 (469)
Income tax expense (566) (284) (1,209) (1,046)
Minority interest income
(expense ) (20) 133 (579) (112)
------- ------- -------- -------
Net income (loss) $(2,536) $(4,365) $989 $(8,463)
======= ======= ======== =======
Basic earnings (loss)
per share $(0.

door statement

'"
Mr. Harris continued: "Of course the individual members themselves
are also winners because they learn ways to get more, sometimes much
more, out of the same mortgage and insurance dollars they are already
spending every month .

Asian American Markets represents
PacifiCare's commitment to develop and enhance products and services
specifically designed to address the unique health care needs of Asian
Americans and to help build stronger ties with Asian American members and
organizations, including Asian American physicians, brokers and employers. In
addition, PacifiCare recently launched a Web site, http:/ /www.
In addition, under the Asian American Markets aegis, PacifiCare is
launching a comprehensive suite of health information programs specifically
designed to address the unique health care needs of Asian Americans, according
to Sam Ho, M. The agency has proven
results and expertise in providing Fortune 500 clients established brand
leadership positions in this emerging market through an integrated mix of
advertising, media, public relations, promotions, events and Web design.
Serving with commitment " are service marks of PacifiCare Health Systems Inc. In New
Zealand cinema revenue was also higher than last year, by $1.7342 and $0.

About Reading International, Inc.

auckland denominations

Equus Announces Launch of its Genesis Program

Business Editors/Real Estate Writers

ATLANTA----Equus Resources , Inc. The first winner is the
sponsoring churches and community organizations who help their members
learn about financial alternatives that can lower their monthly
mortgages and use the savings to fund needed benefits like health,
life and disability insurance or a college savings plan.
"We look forward to working with one of the nation's largest consumer
health organizations to make a positive impact in health care for Asian
Americans," said Jeanine Kim, president of AAAZa . PacifiCare also contracts with numerous Chinese and
Korean doctors as well as key medical groups in communities where many Chinese
Americans and Korean Americans reside., PacifiCare's executive vice president and chief medical
officer.6 million
compared to $9.6 million , on
the buy side of the same tax deferred real property exchange.

* Purchased a 1/3 joint venture interest in Rialto Distribution, a
distributor of art film in New Zealand and Australia.

* Achieved EBITDA(1) for the quarter of $2. The real estate revenue
increase of $1.

As a result we reported a net income of $1.4 million
in 2004.

Balance Sheet
Our total assets at December 31, 2005 were $253. In addition, at
the present time we have approximately $14.
Additionally, certain of the presentations included in this press release
may contain "pro forma" information or "non-US GAAP financial measures. EBITDA
is presented solely as a supplemental disclosure as we believe it to
be a relevant and useful measure to compare operating results among
our properties and competitors, as well as a measurement tool for
evaluation of operating personnel.

beliefs auckland

The
Genesis Program will initially be offered in conjunction with The
Genesis Non-Profit Company, a Georgia not-for-profit corporation. Finally, we too are winners because we are able
to live up to our goal of giving something tangible back to churches
and communities where we live and work and we will also receive a
business opportunity to provide more comprehensive and cost-effective
packages of mortgage and insurance products to thousands who are in
dire need of them.teamonemortgage. Doing something is better.1 million Asian Americans comprising approximately
53 percent of the total Asian American population in the United States. (Amex: RDI) announced today results for its year and fourth quarter ended
December 31, 2005 .

* Acquired the various real estate interests underlying our leasehold
interest in the Cinemas 1, 2 + 3 in Manhattan for $21.6 million.

* Net loss for Q4 2005 was $2.
Plans for a cinema have been filed with applicable government agencies,
to be constructed as Phase II of the project.9 million in
2005, an 11.1 million, predominantly driven by better
operating margins and reduced general and administrative expense.4 million to $4.

* Other income decreased by $1. 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,
including entertainment-themed retail centers ("ETRC") in Australia
and New Zealand and live theater assets in Manhattan and Chicago in
the United States." In
such case, a reconciliation of this information to our US GAAP financial
statements will be made available in connection with such statements.

(1) The Company defines EBITDA as net income (loss) before net interest
expense, income tax benefit, depreciation, and amortization.04 $(0.01, 20 ,000,000 shares authorized and
1,495,490 issued and outstanding at
December 31, 2005 and 2,198,761 issued
and 1,545,506 outstanding at December 31, 2004 15 15
Nonvoting Preferred Stock, par value $0.

link holds

(OTC:EQUR) ("Equus" or the "Company") announced today the official
launch of its Genesis ("New Beginning") Program.com and we will be happy to place you on
our electronic mailing list.

0 million as compared to a
net loss of $8.2 million in Q4 2004 to $25.0 million to $3.1 million higher
than the 2004 quarter of $1.

* Net interest expense increased by $1.0 million for the 2005 twelve
months compared to a loss of $8.5 million in the 2004 twelve months. This difference of
$3. The increase in
investment was done to maintain our 25% equity ownership in the joint venture,
in light of certain higher than initially budgeted construction costs.
Forward-looking statements reflect only our expectations regarding future
events and operating performance and necessarily speak only as of the date the
information was prepared. (213) 235 2240

Reading International, Inc.26)
Income (loss) from discontinued
operations, net 0.04 $(0.

christchurch holds

Equus is
headquartered in Roswell, Georgia, a suburb of Atlanta. to handle its
$850,000 Asian American advertising account . Serving with
commitment.

* Net income for the year ended 2005 was $1.9 million came predominantly from our
Movieland circuit acquisition in late-2004.3 million
in the 2005 period.
Reading manages its worldwide cinema business under various different
brands:
* in the United States, under the
* Reading brand,
* Angelika Film Center brand (http://angelikafilmcenter.

For more information, contact:

Andrzej Matyczynski, Chief Financial Officer
Reading International, Inc.37) $(0.01)
---- --------------------------------------------------------------------
Diluted - earnings (loss ) per share $0.

mandarin beliefs

In this program,
Equus works with churches and community groups to educate, instruct
and inform their members in alternative mortgage and insurance
products and programs which can create for many a "new beginning" to
achieving their near-term and long-term financial goals. Equus plans to
expand its business through internal growth and acquisition and to add
new financial products and services as demand warrants. Currently, more than 99 percent of PacifiCare's
commercial health plan members are enrolled in plans that have received
Excellent Accreditation by the National Committee for Quality Assurance (NCQA).9 million increased 11.
As a result of the above, we reported a net loss of $2. This increase is predominantly due to the increase
in legal expense in connection with the prosecution of our continuing
anti-trust litigation in the US and the one-time bonus for our CEO.6 million gain on sale of assets, our adjusted EBITDA(1) was $6.1
Decrease in realized currency transaction gains $1. Actual results will undoubtedly vary and
there is no guarantee as to how our securities will perform either when
considered in isolation or when compared to other securities or investment
opportunities.

monthly weekly

"We were seeking a partnership with an advertising agency that will help
us further articulate our focused commitment to the health care needs of Asian
Americans," said Howard Phanstiel, PacifiCare's chairman and chief executive
officer.1 million, nearly 1.pacificareasia.
Members who speak Mandarin or Cantonese can choose a primary care physician or
a specialist from an online provider directory that indicates doctors who
speak those dialects., Asian American A to Z agency, is a full-service advertising
and marketing agency targeting the Asian American market including Chinese,
Korean, Vietnamese, South Asian, Filipino and Japanese.
(Logo: http://www.

* Purchased a 50% joint venture position in Rialto Cinemas, the largest
art cinema circuit in New Zealand.2 million in Q4 2004.
The other significant driver that affected the 2005 quarter compared to
the 2004 quarter was the change in other income (expense) of $774,000.4 million to $17.2 million higher than the 2004 twelve months.0 million, our
development in Burwood, Australia will clearly not be funded from normal
working capital even in a phased approach. The remaining tenants are scheduled to take occupancy
during the first quarter of 2006.

Reconciliation of EBITDA to the net loss is presented below:

Three Months Ended Twelve Months Ended
December 31, December 31,
----------- -----------
2005 2004 2005 2004
------- ------- -------- -------
Net income (loss) $(2,536) $(4,365) $989 $(8,463)
Add: Interest expense, net 1,157 1,304 4,473 3,078
Add: Income tax provision 566 284 1,209 1,046
Add: Depreciation and
amortization 2,975 3,349 12,384 11,823
Adjustment for discontinued
operations (1) 481 567 1,915
------- ------- -------- -------
EBITDA $2,161 $1,053 $19,622 $9,399
======= ======= ======== =======

Reading International, Inc.01,
12,000 shares authorized and no outstanding
shares at December 31, 2005 and 2004 -- --
Additional paid -in capital 128,028 124,307
Accumulated deficit (53,914) (54,903)
Treasury shares (3,515 ) --
Accumulated other comprehensive income 28,575 32,386
- -----------------------------------------------------------------------
Total stockholders equity 99,404 102,010
------------------------------------------- -----------------------------
Total liabilities and stockholders equity $253,057 $230,227
========================================================================

northcote weekly

Of
the 4.

* Opened an 8-screen leasehold cinema in Adelaide, Australia.2 million and was funded from internal sources.
Our reported EBITDA(1) at $19.4 million can be more than explained as follows:

In Millions
-----------
Litigation cost increase (excluding settlement received) $0.6845,
respectively, and as of December 31, 2004, these rates were $0. As a result, currency had a negative effect on the
balance sheet at December 31, 2005 compared to December 31, 2004.rialto.
Finally, please understand that we undertake no obligation to publicly
update or to revise any of our forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be required
under applicable law .27)
------------------------------------------------------------------------
Weighted average number of
shares outstanding - basic 22,249,967 21,948,065 21,860,222
------------------------------------------------------------------------
Earnings (loss) per common
share - diluted:
Loss from continuing operations $(0.55 (0.

zealand auckland

In making this announcement, Randy Harris, President of Equus,
stated: "I designed and developed the Genesis Program to be a
win-win-win program for all participants.

Forward-Looking Statements:

Any statements made in this press release which are not historical
facts contain certain "forward-looking statements," as such term is
defined in the Private Litigation Reform Act of 1995 , concerning
potential developments affecting the business, prospects, financial
condition and other aspects of the Company to which this release
pertains. The Company disclaims any obligation to update information
contained in any forward-looking statement."
The various components of the advertising campaign include radio ads and
TV spots in Mandarin and Cantonese, and print, Web banner ads, billboard and
direct mail in traditional Chinese characters.

* Achieved opening of initial retail elements of our Newmarket, Brisbane
shopping centre.7 million,
to $101.

* General and administrative expense grew $2.

* Income from discontinued operations at $12.4
Lost cash flow from discontinued operations $2. Our negative working capital at $14. The
managing member of 57th Street Associates reports that it now has under
contract 61 out of 67 units, at an average selling price of $1,321 per square
foot an increase of $221 per square foot (20.

Subsequent Events
On February 20, 2006, the Victorian State Government approved a rezoning
of our Burwood, Australia 50-acre site from an industrial classification to a
mixed use classification allowing a broad range of entertainment, retail,
commercial and residential uses.
The above list is not necessarily exhaustive, as business is by definition
unpredictable and risky, and subject to influence by numerous factors outside
of our control such as changes in government regulation or policy,
competition, interest rates, supply, technological innovation, changes in
consumer taste and fancy, weather, and the extent to which consumers in our
markets have the economic wherewithal to spend money on beyond-the-home
entertainment.

korean four

equusresources . More information on PacifiCare Health Systems is
available at http://www.

Reading International Announces 2005 Results

This project is, accordingly, anticipated to be a
major focus of our efforts in the years to come.2 million had been spent through December 31, 2005." The slight reduction in real estate revenue was predominantly
in the US, which was down by approximately $300,000 due primarily to our live
theater rentals.0 million
compared to $9.9 million at December 31, 2004 .co.04 $(0.

mandarin christchurch

The actual results of the specific items described in this
release, and the Company 's operations generally, may differ materially
from what is projected in such forward-looking statements . "AAAZa demonstrated a deep and profound understanding of Asian
cultures and history and a dedication to health improvement for Asian
Americans that we feel will make a positive impact in our efforts to enhance
their health and health care experience. The ads will feature a Chinese
version of PacifiCare's theme, "Caring is good.pacificare.6% over 2004, to $101.

* Purchased a 1/3 joint venture interest in Rialto Distribution, a
distributor of art film in New Zealand and Australia. We estimate that total
construction costs for the project will be approximately $26.0 million,
of which $24.

* Effective October 1, 2005, we purchased for $694 ,000 a 1/3 interest in
Rialto Distribution.8 million in the 2005 quarter.3 million came predominantly from US live theatre rental
increases of $700,000 and the New Zealand property acquisitions in
late-2004 of $800,000.
Ultimately, we project that the total project will require development funding
of approximately $500 million.

weekly bulletins

* Exited the Puerto Rican exhibition market in June 2005.

* Effective October 1, 2005, we purchased, indirectly, beneficial
ownership of 100% of the stock of Rialto Entertainment for
$4.1 million was
predominantly due to the US ($2.6%, from
$4.

Twelve Month 2005 Summary

* Revenue from continuing operations increased by 15.3 million in undrawn funds under
our Australian Corporate Credit Facility . We contemplate developing the project in a
series of phases, with final completion sometime in 2015.20) $0.01)
------------------------------------------------------------------------
Basic earnings (loss) per share $0.

spirituality door

These
programs include government-assistance programs , such as first time
homeowner mortgage programs and down-payment assistance programs,
credit repair programs, interest only mortgages, and many other public
and private financial programs designed to foster the American Dream
of home ownership and provide creative avenues for retirement and
related benefits.4 million in 2004, to $101.

Fourth Quarter 2005 Highlights

* Revenue from continuing operations at $25. The joint venture owns five
leasehold cinemas with 22 screens in the New Zealand cities of
Auckland, Christchurch, Wellington, Dunedin and Hamilton .9% in Q4 2004.2 million at December 31, 2004.
Our cash position at December 31, 2005 was $8. The majority of the $3. Accordingly, we believe that we
have sufficient borrowing capacity under our new corporate facility from our
Australian bank, to meet our anticipated short-term working capital
requirements. Negative working capital is typical in the
cinema industry, due to the lag time between the collection of box office and
concession receipts and the payment of film distributors and vendors. We are currently in the planning phase
relating to stage two of this entertainment themed retail centre (or "ETRC")
which is to include a 6 screen cinema complex.com/), and
* City Cinemas brand (http://citycinemas.13) $(0.

four zealand

Several hundred people are expected to attend . Although
such statements are based upon the best judgment of management of the
Company as of the date of this release, significant deviations in
magnitude, timing and other factors may result from business risks and
uncertainties, including, without limitation, the Company's dependence
on third parties, general market and economic conditions, technical
factors, the availability of outside capital, the receipt of revenues,
and other factors, many of which are beyond the control of the
Company. (NYSE: PHS) selected Los Angeles-based AAAZa Inc.

* Achieved opening of initial retail elements of our Newmarket, Brisbane
shopping centre.1 million in Q4 2004. The remaining tenants are scheduled to take
occupancy during the first quarter of 2006.

Revenue from continuing operations (all information relating to sold
assets is included in the tables that follow, under the headings marked "gain
on disposal of business operations," "loss from discontinued operations" and
"adjustment for discontinued operations," including prior year data which has
been restated) increased from $23. This
was primarily due to losses on sale and impairment charges of certain US
non-operating assets in the 2004 quarter, not repeated in the 2005 quarter.1 million
increase resulted from higher admissions related to improved access to
film product subsequent to our settlement with Universal and Fox of our
Village East litigation.8 million change
related to cash invested in plant, equipment and real estate.3 million compares to
$6.com .readingcinemas.nz), and
* Berkeley Cinemas (http://www.
These forward-looking statements reflect our expectation after having
considered a variety of risks and uncertainties.20) $0.39 )
======= ======= ======== =======
Diluted earnings (loss)
per share $(0.

albans auckland

For more
information, please visit us at www .

"Caring is Good. Tsotsi, a film
for which Rialto Distribution has distribution rights in New Zealand
and Australia, won the Academy Award for "Best Foreign Language Film of
the Year" on March 5, 2006. The cost to us of the fit-out of this cinema was
$2. This increases our
world wide screen count (calculated exclusive of unconsolidated joint
venture interests) from 212 screens in 32 cinemas to 220 screens in 33
cinemas .

* Operating expense percentage increased slightly to 77.4 million in the 2004 twelve months . The currency exchange rates for
Australia and New Zealand as of December 31, 2005 were $0.
Requiring estimated funding of approximately $500.0 at December 31, 2004. The design for the anticipated
33,067 square foot cinema component is currently before the Newmarket City
Council for approval . You can recognize these
statements by our use of words such as, by way of example, "may," "will ,"
"expect," "believe," and "anticipate" or other similar terminology.
Among the factors that could cause actual results to differ materially
from those expressed in or underlying our forward -looking statements are the
following:
* With respect to our cinema operations:
* The number and attractiveness to movie goers of the films released
in future periods;
* The amount of money spent by film distributors to promote their
motion pictures;
* The licensing fees and terms required by film distributors from
motion picture exhibitors in order to exhibit their films;
* The comparative attractiveness of motion pictures as a source of
entertainment and willingness and/or ability of consumers (i) to
spend their dollars on entertainment and (ii) to spend their
entertainment dollars on movies in an outside the home
environment; and
* The extent to which we encounter competition from other cinema
exhibitors, from other sources of outside of the home
entertainment, and from inside the home entertainment options,
such as "home theaters" and competitive film product distribution
technology such as, by way of example, cable, satellite broadcast,
DVD and VHS rentals and sales, and so called "movies on demand;"
* With respect to our real estate development and operation activities:
* The rental rates and capitalization rates applicable to the
markets in which we operate and the quality of properties that
we own;
* The extent to which we can obtain on a timely basis the various
land use approvals and entitlements needed to develop our
properties;
* The availability and cost of labor and materials;
* Competition for development sites and tenants; and
* The extent to which our cinemas can continue to serve as an anchor
tenant which will, in turn, be influenced by the same factors as
will influence generally the results of our cinema operations;
* With respect to our operations generally as an international company
involved in both the development and operation of cinemas and the
development and operation of real estate; and previously engaged for
many years in the railroad business in the United States:
* Our ongoing access to borrowed funds and capital and the interest
that must be paid on that debt and the returns that must be paid
on such capital;
* The relative values of the currency used in the countries in which
we operate;
* Changes in government regulation, including by way of example, the
costs resulting from the implementation of the requirements of
Sarbanes-Oxley;
* Our labor relations and costs of labor (including future
government requirements with respect to pension liabilities,
disability insurance and health coverage, and vacations and
leave);
* Our exposure from time to time to legal claims and to uninsurable
risks such as those related to our historic railroad operations,
including potential environmental claims and health related claims
relating to alleged exposure to asbestos or other substances now
or in the future recognized as being possible causes of cancer or
other health related problems;
* Changes in future effective tax rates and the results of currently
ongoing and future potential audits by taxing authorities having
jurisdiction over our various companies; and
* Changes in applicable accounting policies and practices. Accordingly, you should always note the date to which
our forward-looking statements speak.39)
======= ======= ======== =======
EBITDA* 2,161 1,053 19,622 9,399
======= ======= ======== =======
EBITDA* change 1,108 10,223
================= ==================
* EBITDA presented above is net loss adjusted for interest expense (net of
interest income), income tax expense, depreciation and amortization
expense, and an adjustment for discontinued operations (this includes
interest expense and depreciation and amortization for the discontinued
operations). and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
(dollars in thousands)

December 31,
-----------
2005 2004
-- ----------------------------------------------------------------------
ASSETS
Current Assets:
Cash and cash equivalents $8,548 $12,292
Receivables 5,272 7,162
Inventory 468 720
Investment in marketable securities, at cost 401 29
Restricted cash -- 815
Assets held for sale -- 10,931
Prepaid and other current assets 996 2,181
---------------------------------------------- --------------------------
Total current assets 15,685 34 ,130
Property held for development 6,889 10,122
Property under development 23,069 26,825
Property + equipment, net 167,389 122,071
Investment in unconsolidated joint ventures 14,025 7,352
Capitalized leasing costs 15 20
Goodwill 14,653 14,857
Intangible assets, net 8,788 10,916
Other assets 2,544 3,934
----------------------------------------------------------------------- -
Total assets $253,057 $230,227
========================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued liabilities $13,538 $12,129
Film rent payable 4,580 3,508
Notes payable - current portion 1,776 401
Income taxes payable 7,504 6,714
Deferred current revenue 2,319 2,177
Liabilities related to assets held for sale -- 15,310
Other current liabilities 250 806
----------------------------------------------------------------------- -
Total current liabilities 29,967 41,045
Notes payable - long-term portion 93,544 67,478
Notes payable to related parties 14,000 5,000
Deferred non-current revenue 554 522
Other liabilities 12,509 10,702
------------------------------------------------------------------------
Total liabilities 150,574 124,747
------------------------------------------ ------------------------------
Commitments and contingencies (Note 18)
Minority interest in consolidated affiliates 3,079 3,470
Stockholders equity:
Class A Nonvoting Common Stock, par value
$0.

auckland monthly

"
PacifiCare has dedicated customer service representatives who speak
Mandarin, Cantonese and English and are available at 800-938-2300.com/cgi-bin/prnh/20030403 /LATH058LOGO )

Twelve Month 2005 Highlights

* Achieved increase in revenue from continuing operations, up from
$87.

* Purchased a 50% joint venture position in Rialto Cinemas, the largest
art cinema circuit in New Zealand.4 million
in 2004 .8 million. This change was primarily
due to a decrease in our Australian legal expenses in the 2005 quarter
compared to 2004 partially offset by a one time $1.
Effective February 23, 2006, we purchased a 3-screen leasehold cinema in
Queenstown, New Zealand for $939,000 (NZ$1.nz/) brands.

Our statements in this press release contain a variety of forward-looking
statements as defined by the Securities Litigation Reform Act of 1995.55 (0.51) $(0.27)
-------------- ----------------------------------------------------------
Weighted average number of shares
outstanding 22,249,967 21,948,065 21,860,222
========================================================================

Reading International, Inc.

baptist weekly

com or e-mail us at
investorinfo@equusresources.3 million are Chinese American comprising
approximately 49 percent of the total Chinese American population nationwide . PacifiCare offers individuals,
employers and Medicare beneficiaries a variety of consumer-driven health care
and life insurance products.
PacifiCare's specialty operations include behavioral health, dental and vision,
and complete pharmacy benefit management through its wholly owned subsidiary ,
Prescription Solutions.

Fourth Quarter 2005 Discussion

We completed the following in the quarter:

* On November 28, 2005, we opened the initial retail elements of our
Newmarket shopping centre, a 100,373 square foot retail facility
situated on an approximately 177,500 square foot parcel in Newmarket, a
suburb of Brisbane.

* On October 20 , 2005 we opened our 8-screen leasehold cinema in
Adelaide, Australia.
As a percent of revenue, operating expense, at 78.4% in the 2005 quarter
was slightly lower than the 78.2 million for the 2005 quarter was $1.3
CEO one-time bonus $1.
Stockholders' equity was $99.2 million in the 205-209
East 57th Street Associates , LLC ("57th Street Associates").moviefone.readingcinemas.au/);
* in New Zealand, under the
* Reading (http://www.co.
Given the variety and unpredictability of the factors that will ultimately
influence our businesses and our results of operation, it naturally follows
that no guarantees can be given that any of our forward-looking statements
will ultimately prove to be correct.13) $(0.51) $(0.26)
Income (loss) from discontinued
operations, net 0.02) (0.

bulletins christianity

"
In the eight states where PacifiCare offers commercial HMO plans, there
are currently more than 4.com. Tsotsi, a film
for which Rialto Distribution has distribution rights in New Zealand
and Australia, won the Academy Award for "Best Foreign Language Film of
the Year" on March 5, 2006. Rialto Entertainment is a 50% joint venture partner with
Village Roadshow and SkyCity Leisure LTD in the largest art cinema
circuit in New Zealand, Rialto Cinemas.1 million, due to
home grown products like "World's Fastest Indian" and "King Kong" and shot in
New Zealand products like "The Chronicles of Narnia: The Lion , The Witch and
The Wardrobe.5 million for the
2005 quarter compared to a loss of $4.
Our EBITDA(1) at $2.6% or $13.1 million in the twelve months of 2005 compared to 2004.5 million in 2005 ,
due to increased borrowings and higher interest rates.6 million reported for the second
quarter in connection with our disposal of both our Puerto Rico circuit
and our Glendale , California office building.1 million compared to
$230. However, we continue to investigate all options available to us
including debt financing, equity financing, and joint venture partnering to
achieve the optimal financing structure for this most significant development.com/);
* in Australia, under the Reading brand
(http://www.39) $(0.

holds christchurch

"

About Equus Resources

Equus Resources is a multi-faceted financial services company that
offers consumer and commercial clients a broad range of mortgage and
insurance products, mainly in the southeastern states.4 million in 2004

LOS ANGELES, Reading International,
Inc.6% increase.

* Achieved strong positive EBITDA(1): up $10.2 million over 2004 to
$19. The full development of this property is
currently anticipated to require approximately 9 years and funding of
approximately $500 million . Adjusting for the
$13.4 million at December 31, 2005 compared to
$102. Individual Board members and individual members of
our management team may have different view as to the risks and uncertainties
involved, and may have different views as to future events or our operating
performance. EBITDA should not be considered in
isolation from, or as a substitute for, net loss, operating loss or
cash flows from operations determined in accordance with GAAP.39) $(0.

handed regarding

A major objective of the Genesis Program is to use churches and
community organizations to reach out to more families and help those
families find ways to restructure their finances with a view to
obtaining additional necessary or desired services while maintaining
or even reducing total monthly expenditures for those services.com and
www.

PacifiCare Selects AAAZa as Its Asian American Ad Agency

, PacifiCare Health
Systems Inc. "We are confident that this
new partnership will enhance PacifiCare's efforts to reach out to Asian
Americans with products and services specifically tailored to meet their
health care needs.

* Opened an 8-screen leasehold cinema in Adelaide, Australia.5 million as compared to $4. Rialto Distribution, an unincorporated joint
venture, is engaged in the business of distributing art film in New
Zealand and Australia.4 million legal settlement
in the US recorded in the 2004 quarter.4 million increase in Australia came
predominantly from our Anderson circuit acquisition in mid-2004 and the
New Zealand increase of $5.7125, respectively.berkeleycinemas .04 $(0.