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.

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I congratulate the Iraqi people
for defying terrorist threats and setting their country on the path of
democracy and freedom.
(Amex: RDI) announced today that it has received Victorian State government
approval of its plans to develop its approximately 50 acre Burwood property in
Australia, located in suburban Melbourne, Victoria.
(Logo: http: //www.

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.

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Reading International (http://www.moviefone.co. Accordingly, you should always note the date to which
our forward-looking statements speak.

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readingrdi. (213) 235 2240

1870 prehistory

Today, the provisional results of the election have been announced.

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And I congratulate every candidate who stood for
election and those who will take office once the results are certified.

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Reading estimates that approximately 70,000 people pass by the site each day.nz),
* Berkeley Cinemas brand (http://www.

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readingcinemas . 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.

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WASHINGTON, The following is a statement by the
President:

THE WHITE HOUSE

Office of the Press Secretary

Two weeks ago, more than eight million Iraqis defied terrorists and went
to the polls.
Under the now approved zoning scheme , these individual phases will still
require the approval of specific development plans consistent with this
overall zoning designation, but the overall use issues pertaining to the site
have now been resolved. Under
Melbourne 2030, "major activity centres" are described as generally having the
following characteristics:

* A mix of activities that generate high number of trips , including
business, retail services and entertainment;

* Being generally well -served by multiple transport routes, some being on
the rail network, or being capable of being linked to that network;

* Having potential to grow and support intensive housing development
without conflicting with surrounding land uses;

* Supplement the network of Principal Activity Centres; and

* Provide additional scope to accommodate ongoing investment and change
in retail, office, service and residential markets.nz/); and
* Rialto brand (http: //www.nz/vistait/village/Default.
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 .

prehistory researching

com) is in the business of
owning and operating cinemas and developing, owning and operating real estate
assets.au/);

* in New Zealand, under the

* Reading brand (http: //www.co.

1870 1927

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We
still await their review and certification.
Reading's Burwood property, together with certain adjoining properties,
was first designated as a "major activity centre" in 2002 pursuant to
"Melbourne 2030," an overall land use strategy adopted by the Victoria State
Government to manage the growth and development of Melbourne.

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com/), and
* City Cinemas brand (http://citycinemas .

Our statements in this press release contain a variety of forward-looking
statements as defined by the Securities Litigation Reform Act of 1995.

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The United States
and our Coalition partners can all take pride in our role in making that great
day possible. Projections indicate that, upon completion, the
property could have a value in excess of $750 million.co. No guarantees can be given that our expectation
will in fact be realized, in whole or in part.

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LOS ANGELES, Reading International, Inc.
Pursuant to this approval, the property has been rezoned to allow for a
much broader variety of uses than previously allowed, including retail,
entertainment, commercial and residential.
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 .

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com/cgi-bin/prnh/20030403/LATH058LOGO )
Reading's Burwood property is located in the demographic center of greater
Melbourne at the intersection of the Burwood Highway and Middleborough Road
and is the largest undeveloped parcel of land in any "major activity centre"
in Victoria, Australia.

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 .
Additionally, certain of the presentations included in this press release
may contain "pro forma" information or "non-US GAAP financial measures.

For more information, contact:

Andrzej Matyczynski, Chief Financial Officer
Reading International, Inc.

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Statement by the President

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newscom.com/);

* in Australia, under the Reading brand
(http://www .
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.

1870 suggestions

Australian Government Approves Zoning of Reading 's Burwood Site

Reading manages its worldwide cinema business under various different
brands:

* in the United States, under the

* Reading brand,
* Angelika Film Center brand (http://angelikafilmcenter.

twentieth trends

These forward-looking statements reflect our expectation after having
considered a variety of risks and uncertainties.

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That property is
currently unimproved.com.aspx).

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About Reading International, Inc. 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.
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.

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It is anticipated that the
project will be constructed in a variety of phases, commencing late this year
and looking to final completion sometime in 2015 and require an investment in
excess of $500 million. The remaining issues relate principally to project
and building design, rather than to use issues.

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readingcinemas.berkeleycinemas.rialto.

costume trends

The world saw long lines of Iraqi men and women voting in a
free and fair election for the first time in their lives. Approximately 430,000 people live within five miles
of the site, which is well served by both public transit and surface streets. 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." In
such case, a reconciliation of this information to our US GAAP financial
statements will be made available in connection with such statements.

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