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The following is an excerpt from a 10-K SEC Filing, filed by SILVER CINEMAS INTERNATIONAL INC on 3/31/1999.
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SILVER CINEMAS INTERNATIONAL INC - 10-K - 19990331 - MARKET_RISK

ITEM 7 (a). QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

The Company uses fixed rate debt to partially finance budgeted expenditures. These agreements expose the Company to market risk associated with changes in interest rates. The Company does not hold or issue derivative financial instruments for trading purposes.

The following table presents the carrying and fair value at December 31, 1998 of the Company's debt along with its interest rates. Fair value is determined as the quoted price of the financial instrument.

Expected
Maturity                                                                       Fair
Date                                2003                  Total                Value

Fixed Rate
Debt                                $100,000,000          $100,000,000        $83,000,000

Interest
Rate         10.5%

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