Alliance Atlantis Applies to Terminate SEC Registration

TORONTO, September 27: Alliance Atlantis Communications has
filed with the Securities and Exchange Commission (SEC) to terminate the U.S.
registration of its class B non-voting shares.

The company expects its de-registration in the U.S. to be
effective 90 days from now. As a result of the filing, the company's obligation
to file reports with the SEC has been suspended, effective immediately. The
company will continue to be subject to the reporting requirements of the
Canadian securities regulatory authorities as well as the Toronto Stock Exchange.

"Given the ongoing administrative costs we determined
that registration in the United States was no longer cost effective for our
business," said David Lazzarato, the EVP and CFO of the company.