IMAX Brand Resonates With Asian Consumers Who Seek Best Way to Experience the Film

LOS ANGELES, Feb 11, 2010 (GlobeNewswire via COMTEX) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Twentieth Century Fox today announced that James Cameron's Avatar, recipient of Golden Globe(R) awards for Best Picture and Best Director as well as nine Academy Award(R) nominations, has crossed the $35 million mark in gross box office receipts at IMAX(R) theatres throughout the Asia-Pacific region. The IMAX release generated $35.2 million from 37 IMAX screens in 10 countries during the film's Asia-Pacific run through Wednesday, February 10. Many of the IMAX screens in the Asia-Pacific region, the Company's fastest growing market, have grossed over $1 million each. To date, the IMAX release of Avatar has generated an estimated global total of over $170 million from 262 IMAX screens.

Asia-Pacific IMAX highlights include:

Hong Kong -- $2.9 million from 2 IMAX screens
Taiwan -- $2.3 million from 2 IMAX screens
Japan -- $4.3 million from 4 IMAX screens
Australia/New Zealand - $6.3 million from 6 IMAX screens
Korea - $5.1 million from 5 IMAX screens
China -- $11.3 million on 13 IMAX screens

"This incredible box office performance represents the strong consumer demand for The IMAX Experience(R) in the Asia-Pacific market, which is very encouraging as we continue to focus on expanding the IMAX network and brand internationally," said IMAX CEO Richard L. Gelfond. "This success has triggered an increased level of interest in the IMAX theatre business throughout the region. We believe the remaining run of Avatar, as well as the rest of our Hollywood slate and mainstream Chinese films that are scheduled to be digitally re-mastered for the IMAX network in the region, will continue to drive that interest."

"The international distribution team at Twentieth Century Fox has done an exceptional job of incorporating the IMAX brand into its marketing strategy, and it has clearly resonated with Avatar fans in the region who are seeking the best way to experience James Cameron's revolutionary film," added Greg Foster, Chairman and President, IMAX Filmed Entertainment. "Many IMAX theatres are still operating at or near full capacity, and we're looking forward to continued success during the weeks ahead."

Avatar is directed and written by Academy Award Winner James Cameron and stars Sam Worthington, Zoe Saldana, Stephen Lang, Michelle Rodriguez and Sigourney Weaver. Avatar has been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R).

Avatar is the story of an ex-Marine who finds himself thrust into hostilities on an alien planet filled with exotic life forms. As an Avatar, a human mind in an alien body, he finds himself torn between two worlds, in a desperate fight for his own survival and that of the indigenous people. More than ten years in the making, Avatar marks Cameron's return to feature directing since helming 1997's Titanic, the highest grossing film of all time and winner of eleven Oscars(R) including Best Picture. WETA Digital, renowned for its work in The Lord of the Rings Trilogy and King Kong, has incorporated new intuitive CGI technologies to transform the environments and characters into photorealistic 3D imagery that will transport the audience into the alien world rich with imaginative vistas, creatures and characters.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. 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(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. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2009, there were 403 IMAX theatres (280 commercial, 123 institutional) operating in 44 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), Experience It In IMAX(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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 performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

CONTACT: IMAX Corporation, New York
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Sloane & Company, New York
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