Warner Bros. Pictures Continues to Embrace IMAX(R) Theatres as a New Release Window with Seventh Film Commitment

LOS ANGELES, Dec. 16 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Warner Bros. Pictures today announced that Charlie and the Chocolate Factory, the highly anticipated film reuniting Tim Burton and Johnny Depp, and produced by Brad Grey and Richard D. Zanuck, will be simultaneously released to IMAX(R) and conventional 35mm theatres on July 15th, 2005. The announcement follows on the heels of previous successful Warner Bros. Pictures' IMAX DMR(R) releases, including the record-setting holiday hit The Polar Express: An IMAX 3D Experience. Charlie and the Chocolate Factory is an adaptation of the best- selling Roald Dahl novel and will be digitally re- mastered into the unparalleled image and sound quality of The IMAX Experience(R) with proprietary IMAX DMR (Digital Re-mastering) technology. Warner Bros. Pictures will be the exclusive distributor of Charlie and the Chocolate Factory to IMAX theatres worldwide.

Director Tim Burton brings his vividly imaginative style to the Roald Dahl classic about eccentric chocolatier Willy Wonka (Johnny Depp) and Charlie (Freddie Highmore), a good-hearted boy from a poor family who lives in the shadow of Wonka's extraordinary factory. Long isolated from his own family, Wonka launches a worldwide contest to select an heir to his candy empire. Five lucky children, including Charlie, draw golden tickets from Wonka chocolate bars and win a guided tour of the legendary candy-making facility that no outsider has seen in 15 years. Dazzled by one amazing sight after another, Charlie is drawn into Wonka's fantastic world. The screenplay is by John August.

"We have worked with IMAX on six projects in the past two years, and the box office performance and response from moviegoers has been consistently outstanding for each release," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "With this track record of success, we plan to continue releasing films in IMAX's format day-and-date - to capitalize on a new release window and offer audiences a uniquely immersive way to experience our blockbuster pictures. We look forward to working with IMAX on Charlie and the Chocolate Factory and presenting Tim Burton's next masterpiece in IMAX's format."

"Warner Bros. Pictures was one of the first studios to realize the potential of IMAX DMR and we're thrilled to be working with them once again on such a stellar motion picture," said IMAX Co-Chairmen and Co-CEO's Richard L. Gelfond and Bradley J. Wechsler. "Millions of moviegoers around the world have enjoyed Warner Bros. Pictures' releases digitally re-mastered into The IMAX Experience, and Charlie and the Chocolate Factory, much like The Polar Express, is exactly the type of family event movie that has proved to be so popular in IMAX's format. We believe this spectacular film will be a terrific summer attraction and a box office draw for the IMAX theatre network."

"Charlie and the Chocolate Factory is a magical story based on a renowned piece of literature from an imaginative filmmaker; it's an ideal IMAX release that will appeal to the diverse venues within the IMAX theatre network, as well as moviegoers of all ages," added Greg Foster, IMAX's Chairman and President of Filmed Entertainment. "The film will be a key title on our 2005 commercial release slate and we're excited to bring it to IMAX theatres."

About IMAX Corporation

----------------------

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the creation and delivery of the world's best cinematic presentations using proprietary IMAX and IMAX(R) 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX DMR (Digital Re-mastering) that 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 family entertainment experiences. As of September 30, 2004, there were more than 235 IMAX theatres operating in 35 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(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 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, 2003 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; Business Media: Sloane & Company, New
York: Whit Clay, (212) 446-1864, wclay@sloanepr.com; Entertainment Media:
Newman & Company, Los Angeles: Al Newman, (818) 784-2130,
asn@newman-co.com; Analysts: IMAX Corporation, New York: Cheryl Cramer,
(212) 821-0121, ccramer@imax.com; Media: Warner Bros. Pictures:
Stacy Ivers, (818) 954-6228, stacy.ivers@warnerbros.com; Warner Bros.:
Scott Rowe, (818) 954-5806, scott.rowe@warnerbros.com
(IMX. IMAX)