IMAX and Warner Bros. Pictures Hit $400 Million Box Office Milestone

IMAX and Warner Bros. Pictures Hit $400 Million Box Office Milestone

Studio's Movies Presented in IMAX a Hit with Moviegoers

Partnership Helped Shape New Distribution Platform for Event Movies

LOS ANGELES, April 24 /PRNewswire-FirstCall/ -- IMAX Corporation and Warner Bros. Pictures today announced that they have crossed the $400 million mark at the IMAX box office with films released through the partnership between the two companies. Since June 2003, Warner Bros. Pictures has released 16 titles in IMAX's format, five of which were in IMAX(R) 3D, including two live action pictures that were partially converted into 3D with IMAX's proprietary 2D to 3D conversion technology. All titles were digitally re-mastered into the image and sound quality of The IMAX Experience(R) using IMAX's proprietary IMAX DMR(R) (Digital Re-Mastering) technology. Also included in the tally are the studio's two original IMAX 3D co-productions.

"Our successful partnership with IMAX has helped to shape an entirely new distribution window and a completely new form of premium cinematic entertainment," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "The IMAX(R) theatre network has enabled us to generate incremental box office returns, and we are very enthusiastic about our upcoming film slate, which will include both original IMAX 3D programming and our tent-pole releases."

"The IMAX release adds a layer of excitement to major titles, and with more audiences looking for something special at the movies, we anticipate continued strong box office returns from these theatres internationally," said Veronika Kwan-Rubinek, President of International Distribution, Warner Bros. Pictures.

"Warner Bros. Pictures' dedication to the IMAX film business, their talent for making great films and their enthusiastic endorsement of IMAX DMR and original programming has enabled our partnership to reach this impressive milestone," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "With our digital projection system on the verge of rapidly expanding the IMAX network worldwide, we are confident that we'll reach many more milestones with Warner Bros. Pictures."

The studio's Hollywood IMAX releases that contributed to the $400 million milestone and helped shape the IMAX network as a new distribution platform include The Matrix Revolutions, The Matrix Reloaded, Harry Potter and the Prisoner of Azkaban, The Polar Express (in IMAX 3D), Batman Begins, Charlie and the Chocolate Factory, Harry Potter and the Goblet of Fire, V for Vendetta, Poseidon, Superman Returns (in IMAX 3D), The Ant Bully (in IMAX 3D), Happy Feet, 300, Harry Potter and the Order of the Phoenix (in IMAX 3D), Beowulf (international) and I Am Legend.

The original IMAX 3D films co-produced and released with Warner Bros. Pictures include NASCAR 3D: The IMAX Experience (2003), which has grossed nearly $24 million at the IMAX box office, and Deep Sea 3D (2006), which has grossed an impressive $64 million at the IMAX box office on a limited number of screens, and it is still playing well throughout the IMAX network.

"Warner Bros. Pictures has been instrumental in bringing The IMAX Experience into mainstream," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "They were the first studio to release a feature film in IMAX 3D, the first studio to release a live action film that had been converted into 3D, and they introduced the world to a whole new brand of original IMAX 3D programming that is both educational and entertaining. We look forward to continued success with them and their incredible filmmakers as we collaborate in the release of a broad range of pictures over the next few years."

The 2008, 2009 and 2010 lineup for Warner Bros. Pictures and IMAX currently include Speed Racer (May 9), The Dark Night (July 18), Harry Potter and the Half Blood Prince (November 21), Under the Sea 3D (February 2009) and Hubble 3D (February 2010).

About IMAX Corporation

IMAX Corporation is one of the world's leading digital entertainment and technology companies. 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 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 and new digital systems display crystal-clear images on the world's biggest screens. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of December 31, 2007, there were 299 IMAX theatres operating in 39 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX 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, 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, 2007 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; Warner Bros. Pictures, Los Angeles, Jessica
Zacholl, (818) 954-3599, jessica.zacholl@warnerbros.com; Business Media:
Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com;
Investors: Integrated Corporate Relations, Amanda Mullin, (203) 682-8243,
amanda.mullin@icrinc.com; Entertainment Media: Newman & Company, Los Angeles,
Al Newman, (310) 278-1560, asn@newman-co.com

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Profile: International Entertainment