EXHIBIT 11.1									
											
CINEPLEX ODEON CORPORATION						
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS					
(Calculated in accordance with United States generally accepted 
 accounting principles)			
(In U.S. dollars, except number of shares)										
											
<TABLE>
<CAPTION>
											
		                       Year ended	        	Year ended         	Year ended					
                  December 31, 1997   December 31, 1996   December 31, 1995					
                  -----------------   -----------------   -----------------
<S>                  <C>               <C>                 <C>											
Primary											
--------
Loss from continuing 
 operations (G)	      ($64,347,000)	     	($31,082,000)	     ($32,907,000)					
						               --------------      --------------      -------------
					
Net loss (H) 	       	($64,347,000)     		($31,082,000)	    	($32,907,000)					
                     --------------      --------------      -------------
              											
Weighted average 
outstanding common and								
subordinate restricted 
voting shares (I)     	176,795,000         163,473,000      		114,764,000 												
                     -------------        ------------       ------------
																		
Loss per share 
 from continuing 
 operations (G/I)	          ($0.36) 	          	($0.19)	          	($0.29)														
                           --------            --------           --------

Loss per share (H/I)	      	($0.36)	           	($0.19)	          	($0.29) 												
                           --------            --------           --------            
																		
Fully Diluted 																		
-------------
Loss from continuing 
 operations 	        	($64,347,000)		     ($31,082,000)     	($32,907,000)												
   
Imputed interest 
 savings on 
 convertible debt           	N/A	(1)          	N/A	(1)	            N/A	(1)											

Adjusted net loss 
 from continuing     --------------       -------------       ------------
 operations (J)     	 ($64,347,000)     	 ($31,082,000)      	($32,907,000)												
                     --------------       -------------       -------------

Net loss 	           	($64,347,000)	     	($31,082,000)	     	($32,907,000)												
																	     -------------       -------------       -------------	
Imputed interest 
 savings on 
 convertible debt           	N/A	(1)   	       N/A	(1)	            N/A	(1)											
                      -------------       -------------       -------------
Adjusted net loss(K)  ($64,347,000)     		($31,082,000)	     	($32,907,000)												
                      -------------       -------------       -------------
Weighted average 
 outstanding common and						
 subordinate restricted 
 voting shares 	      	176,795,000        	163,473,000        	114,764,000 												

Add: Incremental shares 
 on convertible debt       	N/A	(2)           	N/A	(2)	             N/A(2)											

Adjusted weighted 
 average outstanding   -----------         ------------        ----------- 
 shares (L)           	176,795,000        	163,473,000 	       114,764,000 												
                       -----------         ------------        -----------
Loss per share 
 from continuing 
 operations (J/L)         	($0.36)           		($0.19)	           	($0.29)												
                          --------            --------             --------                       
Loss per share (K/L)	     	($0.36)           		($0.19)           		($0.29)												
                          --------            --------             --------
</TABLE>

(1) Imputed interest calculation would be anti-dilutive and therefore 
has been excluded in calculations.

(2) Inclusion of conversions would be anti-dilutive and therefore are 
excluded in calculations.