All Five IMAX(R) Theatres to Open at Top-Performing AMC Megaplexes in 2005

Leading Exhibitor's First Two Locations Scheduled to Open in Time for June Release of 'Batman Begins: The IMAX Experience'

TORONTO, May 4 /PRNewswire-FirstCall/ - IMAX Corporation (NASDQ:IMAX; TSX:IMX) and AMC Entertainment Inc., the world's second largest theatre chain with more than 3,500 screens, today announced an agreement to install five IMAX(R) MPX(TM) theatre systems at top-performing megaplexes in major U.S. markets before the end of the year. Under the terms of the deal, which is the first between AMC and IMAX and will be a joint venture, the first two IMAX(R) theatres will open in mid-June. This will enable the new theatres to capitalize on the IMAX DMR(R) day-and-date releases of two Warner Bros. Pictures summer event films: Batman Begins and Charlie and the Chocolate Factory. The three remaining locations will open later in 2005 timed to the release of Magnificent Desolation: Walking on the Moon 3D.

"AMC is one of the most respected and innovative exhibitors in the world, and we are delighted to add the company to the growing list of commercial operators opening IMAX theatres," said IMAX's Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "This deal establishes a series of multiplex-based IMAX theatres at key strategic locations throughout the United States, and as a joint venture, enables us to participate in the theatres' financial returns on a recurring basis. We look forward to opening these five new important locations this year."

The agreement between IMAX and AMC is a joint venture, with the two companies sharing in the cost and profitability of the theatres. The IMAX theatres will be opened at existing megaplexes in the following cities: Kansas City, Missouri; Detroit, Michigan; Phoenix, Arizona; Oklahoma City, Oklahoma; and Omaha, Nebraska. Each theatre auditorium will be retrofitted to show Hollywood films converted into IMAX's format using IMAX DMR (Digital Re-mastering) technology, as well as original 2D and IMAX(R) 3D films. The first two locations are scheduled to open by June 15th, with the third, fourth and fifth scheduled to open in September 2005. All of the theatres will feature the IMAX MPX theatre system, which was specifically designed to make it easier and more cost effective for commercial exhibitors to join the IMAX theatre network.

Concluded Messrs. Gelfond and Wechsler, "This agreement with AMC is a watershed transaction, which fills out some of the key media markets in the U.S. with commercial IMAX theatres, and will hopefully further accelerate our already strong momentum with studios, filmmakers and exhibitors."

About AMC Entertainment Inc.

AMC Entertainment Inc. is a leader in the theatrical exhibition industry. Through its circuit of AMC theatres, the company operates 229 theatres with 3,546 screens in the United States, Canada, France, Hong Kong, Japan, Portugal, Spain, and the United Kingdom. The company, headquartered in Kansas City, Mo., has a Web site at www.amctheatres.com.

About IMAX Corporation

Founded in 1967, IMAX Corporation is the newest distribution platform for Hollywood content and one of the world's leading entertainment technology companies. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR 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(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences. As of December 31, 2004, there were 248 IMAX theatres operating in more than 35 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(TM) 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 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/A for the year ended December 31, 2004 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

SOURCE IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Romi Schutzer, (212) 821-0144, rschutzer@imax.com; AMC Entertainment Inc., Pamela Blase, (816) 221-4000, pblase@amctheatres.com; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com; Analysts: IMAX Corporation, New York, Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com