--- title: IMAX and CJ CGV expand relationship in Korea publisher: "IMAX" description: "Leading Exhibitor Commits to Fifth IMAX Theatre Following Two Impressive Launches New Theatre to Open in Time for June Release of Superman Returns: The IMAX Experience SEOUL, Korea, April 20 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced that CJ CGV Co." canonical: "https://www.imax.com/pr/imax-and-cj-cgv-expand-relationship-korea" date: 2006-04-20 last_updated: 2006-04-20 --- IMAX and CJ CGV expand relationship in Korea ============================================ Thu, Apr 20, 2006 Leading Exhibitor Commits to Fifth IMAX Theatre Following Two Impressive Launches New Theatre to Open in Time for June Release of Superman Returns: The IMAX Experience SEOUL, Korea, April 20 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced that CJ CGV Co. Ltd., the leading exhibitor in Korea, signed an agreement to add a fifth IMAX(R) theatre to its original four-theatre commitment. The IMAX theatre system will be installed in the Seomyun 12 multiplex in the city of Pusan. The decision follows impressive box office results from Korea's first two multiplex-based IMAX theatres in Seoul and Incheon. The exhibitor's new IMAX theatre is scheduled to open in time for the highly-anticipated release of Superman Returns: The IMAX Experience on June 30. The CJ CGV IMAX theatres in Seoul and Incheon have grossed a combined total box office of $770,062 for Harry Potter and the Goblet of Fire: The IMAX Experience and $794,289 for The Polar Express: An IMAX 3D Experience in less than 2 months. Additionally, the two theatres have grossed a combined $120,708 for the first two weeks of V For Vendetta: The IMAX Experience. The successful openings reflect the increasing global appeal of Hollywood blockbusters that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R). "Moviegoers in Korea clearly love The IMAX Experience, and we are excited to offer another venue where they can experience films in the most powerful and unique way," said D.H. Park, CEO of CJ CGV and CJ Entertainment. "Our theatres in Seoul and Incheon help differentiate us from competitors, and they have already added significant incremental revenue and attendance. We look forward to reaching a greater number of Korean consumers by showing more blockbusters from IMAX's exciting 2006 film slate over an expanded network of CJ CGV IMAX theatres." "The success of CJ CGV's first two IMAX theatres reflects the winning combination of the exhibitor's marketing expertise and the power of The IMAX Experience," said Richard L. Gelfond and Bradley J. Wechsler, Co-Chairmen and Co-CEO's of IMAX Corporation. "CJ CGV's ability to market the IMAX brand in creative and tailored ways has generated more consumer awareness in Korea and we are confident that our exciting 2006 film slate will continue to drive demand for The IMAX Experience in this important market." The opening of the CJ CGV IMAX theatres in December marked the first time that two commercial IMAX theatres opened simultaneously in a single metropolitan area. The newest theatre will also be equipped with IMAX MPX(R) technology, which enables CJ CGV to cost effectively retrofit a 35mm auditorium with an IMAX theatre system to take advantage of Hollywood blockbusters presented in IMAX's powerful and immersive format. About CJ CGV and CJ Entertainment \--------------------------------- CJ CGV has been the largest multiplex theater chain since opening Korea's first multiplex cinema in 1998. CJ CGV was established through a joint venture between CJ Entertainment, Hong Kong's Golden Harvest and Australia's Village Roadshow, which later was transferred as a joint venture between CJ Entertainment and Asia Cinema Holdings before going public in December 2004. CJ CGV has recently acquired Korea's fourth largest multiplex theater chain, Primus Cinema, to solidify its presence as the leading exhibitor. CJ CGV's vast theatre chain consists of a total of 480 screens at 63 sites across the nation, with CJ CGV operating 278 screens at 36 sites under the CGV brand and Primus Cinema operating 202 screens at 27 sites under Primus brand. 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(R) 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 December 31, 2005, there were 266 IMAX theatres operating in 38 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 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, 2005. 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/