Kung Fu Panda opens strong in IMAX(R) theatres

Kung Fu Panda opens strong in IMAX(R) theatres

LOS ANGELES, June 9 /PRNewswire-FirstCall/ -- IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and DreamWorks Animation SKG, Inc. (NYSE:DWA) today announced that Kung Fu Panda: The IMAX Experience opened with strong box office results at IMAX(R) theatres over the three-day weekend from Friday June 6, through Sunday June 8. The film grossed $2.3 million on 89 domestic IMAX screens and six international IMAX screens, for a per screen average of approximately $24,000. The film will continue to open in international locations in the weeks ahead, ultimately playing on 36 international IMAX screens.

"The strong opening performance of Kung Fu Panda in IMAX theatres is an indicator of the public's appetite for premium out of home entertainment," said Jeffrey Katzenberg, CEO of DreamWorks Animation. "We are delighted to begin our strategic relationship with IMAX on such a positive note and we look forward to continued success as this film opens in additional markets worldwide."

"We are pleased to inaugurate our five-picture deal with DreamWorks Animation with a successful opening weekend for Kung Fu Panda," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "The results from this weekend re-enforce our long-standing belief that DreamWorks Animation-branded movies are well-suited to IMAX's format. This film has drawn very positive reviews and delivers the kind of creativity and family humor that we anticipate will play well throughout the course of its IMAX run."

"We're thrilled to kick off our summer slate with a box office hit," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "DreamWorks Animation is very talented at creating magic for the big screen, and we're happy to be playing a role in bringing that magic to life through The IMAX Experience(R). The combination of a studio firing on all cylinders, a highly entertaining movie such as Kung Fu Panda and The IMAX Experience continues to resonate very well with audiences."

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(R) 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 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 March 31, 2008, there were 298 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR-, IMAX- MPX-, 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.

About DreamWorks Animation SKG

DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of sixteen animated feature films, including Shrek, Shrek 2, Shark Tale, Madagascar, Over the Hedge, Shrek the Third, Bee Movie and Kung Fu Panda. Madagascar: Escape 2 Africa comes to theaters on November 7 and Monsters vs. Aliens, the Company's first film produced in 3D, is slated for a domestic release date of March 27, 2009.

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; DreamWorks Animation, Jeff Hare, (818) 695-6055,
jeff.hare@dreamworks.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; DreamWorks
Animation, Rich Sullivan, (818) 695-3900, ir@dreamworksanimation.com; Business
Media: Sloane & Company, New York, Whit Clay, (212) 446-1864,
wclay@sloanepr.com

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Profile: International Entertainment