1. 1 Cineplex Galaxy Income Fund 2006 Third Quarter

2. 2 Cineplex Entertainment Circuit Famous Players Theatres:54 Screens:575 Cineplex Odeon Theatres:52 Screens:507 Galaxy Cinemas Theatres:26 Screens:227 As of September 30, 2006

3. 3 Famous Players Acquisition - Rationale The leading film exhibitor in Canada Accretive to distributable cash Complementary operations will lead to cost savings Opportunities to increase distributable cash through revenue growth –Increase advertising market share and other income Addition of high quality theatres in metropolitan markets Superior combined management

4. 4 Box Office Market Share Market Share of Canadian Box Office Revenues Cineplex Galaxy 32.1% Other 6.9% Cineplex Galaxy AMC 6.3% Famous Players 42.6% Empire 6.0% Landmark 3.1% Guzzo 3.0% Combined After Divestiture Cineplex Entertainment 64.2% Empire 13.6% Other 9.8% Guzzo 3.0% AMC 6.3% Landmark 3.1% Source: A.C. Nielsen EDI data

5. 5 Six Top-Tier Brands SilverCity 22 theatres Coliseum 4 theatres Famous Players 25 theatres Cineplex Odeon 52 theatres Galaxy 26 theatres Colossus 3 theatres As of September 30, 2006

6. 6 Industry Industry Overview overview

7. 7 Canadian Box Office Revenue 1965 - 2005 Consistent Long-Term Box Office Revenue Growth Canadian Recessionary Periods CAGR since 1965: 5.6%

8. 8 Industry Box Office Canadian Industry* Cineplex Entertainment Canadian Industry* Cineplex Entertainment 2005 Q3 2006 YTD * Source: Motion Picture Theatre Associations of Canada -8.6% + 2.0% -6.1% +4.5% -8.6% + 2.0% -6.1% +4.5%

9. 9 Highest Grossing Films Released in 2005 Star Wars: Episode III$380 M The Chronicles of Narnia $291 M Harry Potter and Goblet of Fire$290 M War of the Worlds$234 M King Kong$218 M Star Wars: Episode III$380 M The Chronicles of Narnia $291 M Harry Potter and Goblet of Fire$290 M War of the Worlds$234 M King Kong$218 M Source: Box Office Mojo

10. 10 Highest Grossing Films Released in 2006 Pirates of the Caribbean 2$421 M Cars$244 M X-Men: The Last Stand$234 M The Da Vinci Code$217 M Superman Returns$199 M Pirates of the Caribbean 2$421 M Cars$244 M X-Men: The Last Stand$234 M The Da Vinci Code$217 M Superman Returns$199 M Source: Box Office Mojo

11. 11 Upcoming Films for 2006 Night at the Museum December 2006 Casino Royale November 2006 The Santa Clause 3 November 2006 Happy Feet November 2006 Charlotte’s Web December 2006

12. 12 2007 Films FILMRELEASE DATENorth American Box Office of Prequel Films ($ millions) 1234 Spiderman 3May 4, 2007$403$374-- Shrek the ThirdMay 18, 2007$268$441-- Pirates of the Caribbean: At Worlds End May 25, 2007$305$421-- Ocean’s 13June 8, 2007$183$126-- Fantastic Four: Rise of the Silver SurferJune 15, 2007$155--- Harry Potter and the Order of PhoenixJuly 13, 2007$318$262$250$290 The Bourne UltimatumAugust 3, 2007$122$176-- Rush Hour 3August 10, 2007$141$226

13. 13 Company overview

14. 14 Increasing Revenue per Guest $9.83 $10.27 $11.23 $10.84 $12.28 $12.51 Revenue per Guest

15. 15 Synergies 1. Reducing overhead costs and adopting best practices –Consolidating two head offices –Staff reductions –Adopting best practices  Enhanced revenues  Operating savings 2. Media sales efficiencies and effectiveness –Creation of Cineplex Media 3. Improved purchasing and merchandising opportunities –Supplier contracts –Merchandising strategies –Concession management Three Core Synergies:

16. 16 ProspectusQ1Current Acquisition Synergies Annualized Synergies: ($ millions) General and Administrative$15$15$15 Media559 Operations-56 Total$20$25$30 General and Administrative$15$15$15 Media559 Operations-56 Total$20$25$30

17. 17 Looking Into the Future Leverage Over 60 Million Guests Magazine In-Theatre Interactive Media-Web Loyalty Naming Rights

18. 18 Marketing

19. 19 Growth 1. Other income initiatives –Digital pre-show network –Cineplex Media –Alternative programming 2. Merchandising 3. Theatre openings

20. 20 Digital Pre-Show Network Rollout Plan Phase 1: April 1 Launch Toronto Extended Market Area - 21 Locations; 215 Screens Phase 2: Complete Nationwide - Additional 800+ Screens TOTAL 89 theatres & 1020 screens

21. 21 Cineplex Media Magazine publishing: –Famous Magazine, Famous Kids, Famous Quebec In-theatre advertising: –Magazine, onscreen, posters, monitors, buildings, naming rights

22. 22 Alternative Programming

23. 23 Loyalty Strategic Alliance Strategic Alliance 60 million Cineplex guests - 132 Cineplex locations 967 Scotiabank Canadian branches – 6 million Scotiabank Canadian customers To create Canada’s first and foremost entertainment loyalty program Includes media rights and naming rights for five Cineplex locations

24. 24 Merchandising Concession Per Patron $3.04 $3.44 $3.74 $0.20 $0.39 $0.56

25. 25 The Best Partners

26. 26 New Theatres 9 Theatres89 Screens BrandLocationScreensOpening Galaxy Milton 8June Cineplex Odeon Brossard 16June GalaxyBrockville6 July Galaxy Saskatoon 12September Cineplex Odeon Oshawa 10Q4 Galaxy Collingwood 72007 SilverCityBurloak 122007 SilverCityHamilton102007/2008 GalaxyBrantford82008

27. 27 Financial highlights

28. 28 Annual Total Revenue ($ millions) 2005 excludes divestitures and includes FP for partial year $250.2 $316.4 $330.0 $353.7 $490.3 $740.0 $197.5 678 394 740 775 1,275 1,269 613 Screen Count

29. 29 Annual Attendance (millions) 2005 excludes divestitures and includes FP for partial year

30. 30 Annual EBITDA ($ millions) EBITDA Margin Adjusted EBITDA Margins – LTM March 2005: CGX20.2% FP 9.0% 2005 EBITDA excludes divestitures and non-recurring/transaction related items and includes FP for partial year

31. 31 Total Revenue – 9 months ended September 30 ($ millions) +6.6%

32. 32 Attendance – 9 months ended September 30 (millions) +2.9%

33. 33 Adjusted EBITDA – 9 months ended September 30 ($ millions) Margin11.2%6.1%14.9% +161%

34. 34 Distributable Income (per unit) Q3 2006Q3 YTD 2006 LTM Sept 2006 Distributable Income per Unit $0.46$0.99$1.45 Distributions Declared$0.29$0.86$1.15 Payout63%87%79%

35. 35 Credit Facilities Development facility –Capacity - $60 million Working capital facility –Capacity - $50 million Term facility –Capacity - $235 million

36. 36 Questions