Robert Beitcher Named President of Panavision

WOODLAND HILLS, Calif. –– Panavision Inc. announced theappointment of Robert Beitcher as President, effective April 14, 2003.He joins Panavision from Technicolor, Inc., where he has served asPresident of Technicolor Creative Services since 2000.

In his new post, Mr. Beitcher will report to Panavision’sChairman, Ronald O. Perelman, who will serve as the Chief ExecutiveOfficer. Mr. Beitcher will also be nominated to serve on the Board ofDirectors.

In commenting on the announcement, Mr. Perelman noted: "In recentweeks, there has been abundant evidence of Panavision’s enduringstrength as the leader in the industry. The Academy Award incinematography went to Road to Perdition, a film that usedPanavision cameras and lenses, and the company itself was awarded itsthird Scientific and Technical Oscar for its continued development andinnovation.

"On the financial front, Panavision last week substantiallystrengthened its balance sheet through an equity investment of $100million from its principal shareholder. Now the appointment of BobBeitcher brings to the company a proven leader, with a wealth ofexperience in many facets of the entertainment industry, includingproduction and postproduction in both the film and digital segments.Bob’s vision, creativity and management skills are exactly whatPanavision needs to guide the company’s next phase of growth anddevelopment."

"I am very excited to join Panavision, especially at this particulartime," Mr. Beitcher said. "Building on its legacy as the world’spremier brand in camera and lens technology for the motion picture andtelevision industries, the company has already staked out a key role inthe digital future of our industry while maintaining its commitment tothe medium of film. I look forward to working with Ronald Perelman andthe entire Panavision team in shaping the company’s direction andgrowth in the years ahead."

Prior to his tenure at Technicolor, Mr. Beitcher served as Presidentand Chief Executive Officer of Consolidated Film Industries, ExecutiveVice President of Paramount Pictures, Managing Director of Jim HensonProductions, and Vice President, Business Affairs of Lucasfilm Ltd. Heis on the Executive Committee of the Motion Picture & TelevisionFund Foundation’s Next Generation Council and is a member of theAcademy of Motion Picture Arts & Sciences.

Panavision Inc. is a leading designer and manufacturer ofhigh-precision camera systems, comprising film and digital cameras,lenses and accessories for the motion picture and televisionindustries. Panavision systems are rented through its domestic andinternational owned and operated facilities and agent network.Panavision also supplies lighting, grip and crane equipment for use bymotion picture and television productions and, through its subsidiaryEFILM, LLC, provides innovative digital post-production services.