IMAX Signs Theatre Deal In Dubai

IMAX Signs Theatre Deal In Dubai

Home of Dubai World Cup Includes IMAX as Part of Multi-Billion Dollar Makeover

DUBAI, UAE, June 18 /PRNewswire-FirstCall/ -- IMAX Corporation today announced it has signed an agreement with Meydan LLC, a sports and entertainment property developer in Dubai, UAE, to install an IMAX(R) theatre as part of a multi-billion development at the world-famous Nad Al Sheba, Dubai's premiere thoroughbred horse racing track. Nad Al Sheba is home to the Dubai World Cup, one of the world's most prestigious horse racing events. Expected to be installed by the end of 2009, the new theatre brings the total number of IMAX locations in the Middle East to 12 by 2010.

"IMAX is one of the most prestigious and globally recognized cinema brands, and we are confident that our new IMAX theatre will help to reinforce Meydan as a premiere entertainment destination in Dubai," said Saeed A-Tayer, Chairman of Meydan. "We are very excited to offer our patrons a powerful cinematic experience they can't get anywhere else."

"Dubai continues to be recognized around the world for its high end, luxury developments, and we're pleased that the IMAX brand will be included in the Meydan project," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We remain committed to growing the IMAX network internationally, and we believe that with the right partners, Dubai serves as an excellent platform from which we can increase our visibility in the Middle East."

About Meydan LLC

Meydan LLC (Limited Liability Company) oversees the development of the UAE's incredible new iconic horseracing development. It will feature a world-class grandstand, and the enterprise will also serve as a major business and conference district.

Features of Meydan - an Arabic word, which is translated as a place where people congregate and compete - include five-star hotels, operated by Banyan Tree, world-class golf course, more than 10 restaurants, covered car parking for 10,000, the Meydan Museum and gallery, and the Dubai Racing Club offices. Meydan Racecourse is in close proximity to Meydan City - a self-contained community consisting of commercial and residential plots, retail outlets and arcades with canal, waterfront and promenade views. It is also located near Meydan Business Park, which offers over 2.9 million square feet of office space in 17 blocks. The office pods are set in single pedestrian podium with architecture, design and colour creating an environment-friendly workspace that inspires. The MBP also boasts an impressive workspace lobby which is an expansive 12-hectare landscaped podium, while the plaza cleverly conceals a 3,400-carpark facility for resident workforce.

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(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). 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 March 31, 2008, there were 298 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 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, 2007, 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: IMAX
Corporation, New York, Heather Anthony, (212) 821-0121, hanthony@imax.com;
Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864,
wclay@sloanepr.com

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Profile: International Entertainment