EXHIBIT 99 READING ENTERTAINMENT CITADEL HOLDING CORPORATION CRAIG CORPORATION CRAIG, READING AND CITADEL ENTER INTO CONSOLIDATION AGREEMENT IN PRINCIPLEConsolidation Agreement • July 19th, 2001 • Citadel Holding Corp • Operators of apartment buildings
Los Angeles, California: July 19, 2001. Craig Corporation ("Craig") (NYSE: "CRG/CRGPR"), Reading Entertainment, Inc. ("Reading") (NASDAQ: "RDGE") and Citadel Holding Corporation ("Citadel") (AMEX: "CDL.A", "CDL.B") announced today that an Agreement in Principle has been entered into among the three companies providing for the consolidation of the three companies under Citadel, in a merger of equals transaction (the "Consolidation").
