IMAX Signs Another Multiplex Theatre Deal in China

IMAX Signs Another Multiplex Theatre Deal in China

Signings Momentum Continues to Build in The People's Republic of China

Twenty-Three IMAX(R) Theatres Scheduled to be Open in Country by 2008

TORONTO, April 8 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced an agreement with Zhengzhou Zhongyue Xiufeng Real Estate Co., Ltd. to install an IMAX(R) MPX(TM) theatre system at a multiplex in Zhengzhou, China, a city of two million people approximately 400 miles southwest of Beijing. The multiplex will be part of one of the largest commercial development in the city, called Zhengzhou Xintiandi, which will include entertainment, retail shops, dining and residential units. In the past eight months, IMAX has signed contracts for twelve new theatre systems in China, with a total of twenty-three IMAX(R) theatres now scheduled to be open in the country by 2008.

"The level of interest we're seeing from commercial exhibitors and real estate developers throughout China is unlike anything in IMAX's history," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "We launched our Chinese operations in late 2001, and now, just more than three years later, the country is on the verge of becoming IMAX's second largest market in the world. The compelling economics of the IMAX MPX system and performance of digitally re-mastered IMAX releases have been key to this success, and we believe China still holds a great deal of potential for further expansion of the IMAX theatre network."

"Including an IMAX theatre as part of the Zhengzhou Xintiandi commercial development will help immediately establish it as the premiere entertainment destination in Zhengzhou," said Mr. Wang Mingyi, Chairman of Zhongyue Xiufeng. "IMAX theatres have proven to make great 'anchors', which drive incremental attendance to both a multiplex and surrounding businesses as well. We feel IMAX represents a profitable business opportunity and we're excited to be working with the company to bring the ultimate movie experience to Zhengzhou."

The IMAX theatre in Zhengzhou is scheduled to open in 2007 and will be capable of exhibiting Hollywood blockbusters converted into IMAX's immersive format, as well as original 2D and IMAX(R) 3D films. The theatre will feature IMAX's state-of-the-art, multi-channel, digital surround sound system, designed to further immerse audiences in an IMAX presentation.

About IMAX Corporation

Founded in 1967, IMAX Corporation is the newest distribution platform for Hollywood content and one of the world's leading entertainment technology companies. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) technology. IMAX DMR (Digital Re-mastering) makes it possible for virtually any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences. As of December 31, 2004, there were 248 IMAX theatres operating in more than 35 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(TM) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, and fluctuations in foreign currency and in the large format and general commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2003 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Romi Schutzer, (212) 821-0144, rschutzer@imax.com; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com; Analysts: IMAX Corporation, New York, Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com

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