IMAX Signs Deal with Grupo Cinemex, The Leading Operator in Mexico City

IMAX Signs Deal with Grupo Cinemex, The Leading Operator in Mexico City

Cinemex to Open Multiplex-Based IMAX Theatre In October of This Year

TORONTO, Sept. 6 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) and Cinemex, the largest movie theatre chain in Mexico City and the second largest in the country, today announced an agreement to install an IMAX MPX(R) theatre system at a Cinemex multiplex in Cuernavaca, Mexico. The location will be the next in a series of multiplex-based IMAX theatres that have rapidly opened across Mexico since the first IMAX digitally re-mastered Hollywood film debuted in the country last November. Mexico has now become one of IMAX's strongest markets, with 17 IMAX(R) theatres scheduled to be open in the country by 2008. Grupo Cinemex is a wholly owned subsidiary of Loews Cineplex, the third largest movie theatre chain in the world.

"Our digitally re-mastered blockbusters have been generating fantastic box office returns and audience response in Mexico, which has driven our expansion across the country," said IMAX Co-CEO's and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "We're excited about the opportunity to open an IMAX theatre in one of Cinemex's top-of-the line multiplexes and believe bringing this unparalleled moviegoing experience to Cuernavaca will contribute to further growth in the region."

"Cinemex is delighted to initiate this new partnership with IMAX, which fits perfectly with our continued effort to provide the ultimate entertainment experience to our guests." said Miguel Angel Davila, CEO of Cinemex. "The IMAX Experience is a proven draw all over the world and together with a growing slate of first run Hollywood blockbusters in both 2D and 3D, we are confident it will not only bring incremental box office to our theatre, but more importantly, it will substantially enhance the Cinemex experience."

The new IMAX theatre is scheduled to open in October as part of the Cinemex Diana multiplex in the city of Cuernavaca, located approximately one hour from Mexico City. The theatre will be capable of playing Hollywood event films converted into the unparalleled image and sound quality of The IMAX Experience, as well as original IMAX productions in 2D and IMAX 3D. The IMAX MPX theatre system was specifically designed to enable multiplex operators to more cost effectively enter into the IMAX theatre business, by retrofitting an existing stadium seating auditorium or via an economical new build.

About Cinemex -------------

Cinemex commenced operations in 1994 and opened its first theatre, Cinemex Altavista, in August of 1995. Since opening its doors, Cinemex has offered film lovers the ultimate entertainment experience. Cinemex's success has been built on securing the best locations, building beautiful theatres and equipping them with state-of-the-art technology, while offering innovative customer service. Cinemex was also the first company to introduce a computerized system for ticket purchases and reservations via telephone and the Internet. Cinemex owns and operates 38 theatres with 422 screens and is the largest film exhibitor in Mexico City's metropolitan area and the second largest film exhibitor in Mexico. Check out the Cinemex website http://cinemex.com/.

About IMAX Corporation ----------------------

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies and the newest distribution window for Hollywood films. 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. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences. As of June 30, 2005, there were 259 IMAX theatres operating in more than 36 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 for the year ended December 31, 2004 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; Cinemex, Mexico, Patricia Ornelas, 525-5513-9125, patriciao@cinemex.net.mx; 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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