Exhibit 99.1

NEWS ANNOUNCEMENT

Carmike Cinemas Reports 2010 Q2 Results

- Large Format Screen (BigD) Launched-

COLUMBUS, GA – August 2, 2010 -- Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3D motion picture exhibitor, today reported results for the three months ended June 30, 2010, as summarized below.

SUMMARY FINANCIAL DATA

(unaudited)

“The second quarter was marred by an industry-wide box office decline. While we take no pleasure in experiencing year over year box office declines, we are encouraged that Carmike’s per screen attendance and admissions fared at or better than industry averages. We are pleased to report year over year increases in average admissions and concessions per patron. Consumer preference for 3D was strong, representing over 26% of Carmike’s total Box Office for the quarter,” stated Carmike Cinemas President and Chief Executive Officer David Passman.

“I’m also very pleased to announce the successful debut of Carmike’s first large format auditorium, the BigD, with the July opening of Salt, starring Angelina Jolie”, he said. “Patrons chose the BigD experience by a multiple of several times over the same movie in other auditoriums. The large format concept includes premium pricing, bigger screens, bigger, more luxurious seating and upgraded surround sound. We are targeting as many as two dozen BigD locations by 2011 year-end and are excited to bring this Ultimate Entertainment Experience to our theatres and loyal cinema-goers across the country.”

THEATRE PERFORMANCE STATISTICS

“For the past several quarters we have been describing our goal to improve Carmike’s performance relative to the industry. Patrons are responding well to the strategy of cleaner and friendlier theatres and more creative pricing and packaging of concessions, as evidenced by attendance per screen and spending per patron relative to industry metrics”, added Mr. Passman.

In the aggregate, Carmike’s patrons spent an average of $10.36 per visit during the second quarter, up 6.5 percent compared to the same period in 2009. Average admissions increased 6.0 percent to $6.89, with 3-D premiums driving the year-over-year rise. For the second consecutive quarterly period, concessions and other revenue per patron also rose, increasing 7.4 percent to $3.47.

Carmike Chief Financial Officer Richard B. Hare stated, “On the expense side, film exhibition costs declined 80 basis points to 56.8 percent of admissions revenues, versus 57.6 percent in the year-ago period. General and administrative expenses rose to $4.5 million due to increases in salaries and wages, incentive compensation and legal and professional fees. Carmike’s other theatre operating costs for the quarter were negatively impacted by a $1 million charge as the result of a sales and use tax assessment primarily for the 2005 and 2006 tax years. Carmike’s second quarter results also include a $3.2 million impairment charge related to operating performance of 12 theatres.”

Mr. Hare continued, “Quarterly interest expense rose nine percent to $9.8 million due to an increase in interest rates, as well as the recording of interest costs associated with the aforementioned sales and use tax assessment. During the second quarter of 2010, we voluntarily pre-paid another $5 million in bank debt leaving our June 30 bank debt balance at $241.4 million. We have made prepayments totaling $20 million for the first half of 2010.”

Mr. Passman commented, “The third quarter has gotten off to a better start industry wide, and we remain optimistic about the second half of the year.

“We have expanded our 3-D screen footprint to nearly 550, representing over 25% of our first run screens and expect to have a total of 600 by the end of September, which should accommodate customer demand and studio release schedules, which seem to be steadily growing with upcoming titles,” he concluded.

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Supplemental Financial Measures

Theatre level cash flow, adjusted EBITDA, adjusted net income (loss) excluding impairment, loss on extinguishment of debt, separation agreement charges and sales and use tax assessment, total debt and net debt are supplemental non-GAAP financial measures used by Carmike to evaluate its operating performance. Carmike defines theatre level cash flow as operating income plus separation agreement charges related to the Company’s former CEO, (gain) loss on sale of property and equipment, sales and use tax audit assessment, impairment of long-lived assets, depreciation and amortization, and general and administrative expenses. Carmike believes that theatre level cash flow is an important supplemental measure of operating performance for a motion picture exhibitor’s operations because it provides a measure of the core operations, rather than factoring in items such as general and administrative expenses and depreciation and amortization, among others. In addition, Carmike believes that theatre level cash flow, as defined, is a widely accepted measure of comparative operating performance in the motion picture exhibition industry. Adjusted net income (loss) is defined as net income (loss) plus impairment of long-lived assets, loss on extinguishment of debt, sales and use tax audit assessment, and separation agreement charges related to the Company’s former CEO. Carmike believes adjusted net income is an important supplemental measure of operating performance for a motion picture exhibitor because it provides a measure of core operations. Total debt is defined as the sum of current maturities of long-term debt, capital leases and long-term financing obligations, long-term debt (less current maturities) and capital leases and long-term financing obligations (less current maturities). Net debt is defined as total debt less cash and cash equivalents. Adjusted EBITDA is defined as operating income plus separation agreement charges related to the Company’s former CEO, (gain) loss on sale of property and equipment, sales and use tax audit assessment, impairment of long-lived assets and depreciation and amortization. Carmike believes adjusted EBITDA is an important supplemental measure of operating performance for a motion picture exhibitor’s operations because it provides a measure of core operations.

About Carmike Cinemas (www.carmike.com)

Carmike Cinemas, Inc. is a U.S. leader in digital cinema and 3-D cinema deployments and one of the nation’s largest motion picture exhibitors. As of June 30, 2010, Carmike had 240 theatres with 2,250 screens in 35 states. Carmike’s digital cinema footprint reached 2,125 screens, including 197 theatres with 544 screens that are also equipped for 3-D. Carmike’s focus for its theatre locations is small to mid-sized communities with populations of fewer than 100,000.

Disclosure Regarding Forward-Looking Statements

This press release and other written or oral statements made by or on behalf of Carmike contain forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs, expectations and future performance, are forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words, “believes,” “expects,” “anticipates,” “plans,” “estimates” or similar expressions. Examples of forward-looking statements in this press release include our expectations regarding digital cinema opportunities, the implementation of Big-D large format locations, box office performance, the 3-D release schedule, third quarter and fiscal year 2010 performance and our strategies and operating goals, including expectations regarding leverage and theatre-level operating improvements. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on beliefs and assumptions of management, which in turn are based on currently available information. The forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond our ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, but are not limited to: general economic conditions in our regional and national markets; our ability to comply with covenants contained in our senior secured credit agreement; our ability to operate at expected levels of cash flow; financial market conditions including, but not limited to, changes in interest rates and the availability and cost of capital; our ability to meet our contractual obligations, including all outstanding financing commitments; the availability of suitable motion pictures for exhibition in our markets; competition in our markets; competition with other forms of entertainment; and other factors, including the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2009 under the caption “Risk Factors.” We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

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CARMIKE CINEMAS, INC. and SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

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CARMIKE CINEMAS, INC. and SUBSIDIARIES

SUPPLEMENTARY NON-GAAP RECONCILIATIONS

THEATRE LEVEL CASH FLOW AND ADJUSTED EBITDA (Unaudited)

($ in thousands)

TOTAL DEBT AND NET DEBT (Unaudited)

($ in thousands)

ADJUSTED NET INCOME (LOSS) (Unaudited)

($ in thousands)

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