Ottawa, Canada, November 21, 2001 - Precidia Technologies Inc. announced today that its IP enabling technology was recently put to the test in a high profile environment: the premiere of the new 'Harry Potter and the Philosopher's Stone' movie, which opened in Cineplex Odeon theatres on November 16th. Cineplex Odeon has implemented Precidia's Ether3201 technology in two of its flagship theatres in Ontario. The trial was successful, with the Ether3201 performing flawlessly during one of the busiest weekends ever for Cineplex Odeon.

The Ether3201, which connects to the retail payment terminals at each payment window at a Cineplex Odeon theatre, migrates the transactions from an older and more costly infrastructure to an IP network. Migrating transactions onto IP networks allows Cineplex Odeon to realize significant cost savings as they eliminate separate phone lines for transactions. In addition, the Ether3201's new transaction management tools, such as statistics reporting and logging, make it the ideal solution to debut during a busy period such as the 'Harry Potter and the Philosopher's Stone' opening.

Said Cineplex Odeon Manager of Theatre Systems Len Cirillo, "We were searching for a solution which would help our payment systems become more efficient. With state of the art theatres boasting the most sophisticated movie theatre technology available, it only made sense that we should have the best in class retail payment solutions from Precidia at the front counter. Cineplex is committed to the continual improvement of its systems to ensure the best possible service to our customers."

Precidia President Deepak Wanner is pleased to see this Ether3201 implementation move forward. "It is always satisfying to see your technology deployed in real life applications, and this is a great example of this. The Ether3201 will bring Cineplex into the next generation of retail payment solutions, offering them significant cost savings and more efficient transaction processing. We are pleased to have been able to provide this winning solution to an industry leading player like Cineplex Odeon", said Mr. Wanner.

The Ether3201 solution has been deployed at theatres in Etobicoke and Mississauga and will be implemented in a full roll out of 75 theatres in 2002.

About Cineplex Odeon Corporation ("Cineplex Odeon Canada")
A Loews Cineplex Entertainment company, operates motion picture cinemas and related food concessions in six Canadian provinces. Headquartered in Toronto, Cineplex Odeon Canada operates 594 screens in 72 locations. With the opening of the Queensway Cinemas, Cineplex operates 141 screens at 13 locations in the GTA, including the new Eglinton Town Centre, the Grande at Sheppard Centre and the Varsity Cinemas in downtown Toronto.

Loews Cineplex Entertainment Corporation is one of the world's largest theatre exhibition companies in terms of revenues and operating cash flow, with 2,475 screens in 277 locations primarily in major cities throughout the United States, Canada and Europe. Loews Cineplex's divisions include Loews Cineplex United States, Cineplex Odeon Canada and Loews Cineplex International. Loews Cineplex operates theatres under the Loews and Cineplex Odeon names. In addition, the Company is a partner in Magic Johnson Theatres, Star Theatres, Yelmo Cineplex de Espana and Megabox. Loews Cineplex Entertainment trades on the Toronto Stock Exchange under the symbol "LCX".

About Precidia Technologies
Precidia Technologies Inc. is a global leader in the design and manufacture of IP access devices for a wide range of industries, including retail payments and building automation. With customers in over 75 countries, Precidia's unique product line of wired and wireless access devices seamlessly migrate stand-alone serial and dial equipment onto more sophisticated IP networks. For more information, visit Precidia on the Web at http://www.precidia.com.