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Last updated on April 19, 2014 at 9:20 EDT

Cinram Announces Restructuring of French Replication

May 29, 2012

TORONTO, May 29, 2012 /PRNewswire/ – Cinram International Income Fund (“Cinram”
or the “Fund”) (TSX: CRW.UN), announced today that Cinram Optical Discs
SAS, a French subsidiary engaged in DVD replication, has filed for
insolvency. The application is scheduled to be heard on May 31, 2012.

The DVD manufacturing operation has been impacted by a steady decline in
volumes in recent years.

The insolvency proceedings will not impact Cinram’s distribution
operations in France nor its operations in other regions.

About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the
Fund, is one of the world’s largest providers of multimedia products
and related logistics services. With facilities in North America and
Europe, Cinram International Inc. manufactures and distributes
pre-recorded DVDs, Blu-ray Discs, audio CDs, CD-ROMs and digital
content for motion picture studios, music labels, publishers and
computer software companies around the world. Cinram also provides
distribution and logistics services to the telecommunications industry
in North America through its wireless subsidiaries. The Cinram group of
companies now also incorporates 1K Studios, a digital media firm based
in Los Angeles specializing in building enhanced consumer experiences
for movies, TV shows, music, books and games. The Fund’s units are
listed on the Toronto Stock Exchange under the symbol CRW.UN. For more
information, visit www.cinram.com.

Certain statements included in this release constitute “forward-looking statements” within the meaning of applicable securities laws. Such forward-looking statements include statements concerning the
possible effects of the transactions described herein, and the
likelihood of their successful completion. Such forward-looking
statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Fund, or results of the multimedia duplication/
replication industry, to be materially different from any future
results, performance or achievements expressed or implied by such
forward looking statements. Such factors include, among others, the
following: the Fund’s ability to retain major customers; general
economic and business conditions, which will, among other things, impact
the demand for the Fund’s products and services;
multimedia replication industry conditions and capacity; the ability of
the Fund to implement its business strategy; the Fund’s ability
to invest successfully in new technologies and other factors which are
described in the Fund’s filings with the securities
commissions. These risks may affect the achievement of the expected
results of the transactions described herein. There can be
no assurance that the said transactions will be successfully completed
or that, if completed, the expected consequences will result
in whole or in part, and the deviations from such expectations may be
mate
rial.

SOURCE Cinram International Income Fund


Source: PR Newswire