IMAX Signs Theatre Deal in Morocco

IMAX Signs Theatre Deal in Morocco

International IMAX(R) Theatre Network Continues to Grow on Strength of Brand and Appeal of Hollywood IMAX Releases

The IMAX Experience(R) to be an Anchor Attraction in Country's Largest Mall

TORONTO, Oct. 22 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced an agreement with Al Amine Investissement, a leading commercial retail developer in Morocco, to install an IMAX(R) theatre in the city of Casablanca. Scheduled for installation in early 2009, the IMAX theatre will be an anchor attraction at the new Morocco Mall, which is expected to be the largest mall in the country. The announcement marks IMAX's first contract in Morocco.

Under the terms of the agreement, the developer is contracted to install an IMAX MPX(R) theatre system, and both parties have agreed to install IMAX's new digital theatre system instead if it becomes available on or before the installation date. IMAX's digital theatre system is currently in the advanced stages of development.

"Our entry into Morocco reflects the growing international appeal of the IMAX brand, which currently has a presence in over 40 countries," said IMAX Co-CEO's and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "Al Amine Investissement is a leading commercial developer in Morocco, and through our partnership with them, we are looking forward to introducing the IMAX brand to moviegoers in and around Casablanca."

"The IMAX Experience gives us the ability to offer a cinematic experience that far exceeds any other in Morocco," said Selwa Akhannouch, President and Director General, Groupe Aksal, a co-owner of Al Amine Investissement. "We believe the IMAX theatre will be a perfect fit for our project in Casablanca because the world-famous IMAX brand brings a prestigious image to our mall."

Emad Eldin Abdalla, Director General of Nesk Investment, which is also a co-owner of Al Amine Investissement, added, "The new IMAX theatre enables us to offer moviegoers a whole new way to experience Hollywood movies. Further, our new IMAX theatre will deliver a cinematic experience that consumers can't get at home -- and that will be good for all areas of our business at this location."

The IMAX theatre will be capable of playing Hollywood event films that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R), as well as original IMAX productions in 2D and IMAX(R) 3D.

About the Morocco Mall

Morocco Mall is the largest shopping mall project across North Africa. Taking advantage of a strategic location of 24.71 acres along the ocean, the site promises to become a destination for an anticipated 15 million visitors per year. Only ten minutes from the city centre of Casablanca, with five points of entry, 200 stores, 40 restaurants and several leisure and entertainment venues, Morocco Mall will considerably increase the commercial and leisure offering available to residents and tourists in Casablanca.

About Al Amine Investissement

Al Amine Investissement is jointly held by Aksal Group and Nesk Investment, two large franchise and fashion operators in Morocco who have contributed to the development of the Moroccan commercial landscape. Aksal and Nesk already have secured relationships with renowned fashion giants such as Zara, Mango, Massimo Dutti, Promod, La Vie En Rose, Aldo, Zara Home and Stradivarius. Aksal and Nesk are joining efforts to launch the Morocco Mall. Al Amine Investissement is committed to leading the economic growth of Morocco into the 21st century. More information can be found at: www.moroccomall.ma, www.groupeaksal.com, and www.nesk.com.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in digital and film-based motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of June 30, 2007, there were 290 IMAX theatres operating in 40 countries.

   IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(R), 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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's financial reporting and accounting, 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, risks arising from potential material weaknesses in internal control over financial reporting 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, 2006, as well as the Company's Quarterly Reports on Form 10-Q.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; Entertainment Media: Newman & Company, Los
Angeles, Al Newman, (310) 278-1560, asn@newman-co.com; Investors: Integrated
Corporate Relations, Amanda Mullin, (203) 682-8243; Business Media: Sloane &
Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com

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Profile: International Entertainment