One of the Biggest Movies of 2007 Gets Digitally Enhanced into The IMAX

Experience(R)

LOS ANGELES, Aug. 21 /PRNewswire-FirstCall/ - IMAX Corporation, DreamWorks Pictures and Paramount Pictures announced today that "TRANSFORMERS," one of the highest grossing movies of the year, will be digitally re-mastered into IMAX's immersive format and released to IMAX(R) theatres on September 21. The Michael Bay-directed movie, which has already generated $310 million in gross box office receipts domestically since its premiere in conventional theaters on July 3, will be enhanced into the unparalleled image and sound quality of The IMAX Experience(R) through IMAX's DMR(R) (Digital Re-Mastering) technology.

"IMAX's all-encompassing format takes 'TRANSFORMERS' to a whole new level of detail and intensity," said Michael Bay, the film's director. "I am very excited to work with the team at IMAX to create this turbo-charged version."

"As fans of 'TRANSFORMERS' await the release of the DVD in the fall, they will have a brand new way to experience the adventure -- as if they are actually part of the movie," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "The images and sound in 'TRANSFORMERS' are perfectly suited to The IMAX Experience and we are very excited to share the IMAX version with the film's present and future fans."

"When you combine Michael Bay's action packed brand of filmmaking with The IMAX Experience, you get a movie that plays to the elusive and extremely valuable tech-savvy demographic," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "We are very excited to offer moviegoers a chance to experience one of the highest grossing and most popular films of the year in a premium way that cannot be replicated anywhere else, and we are delighted to once again work with the talented team at Paramount Pictures to make this happen."

DreamWorks Pictures and Paramount Pictures Present, in Association with Hasbro, a di Bonaventura Pictures Production, a Tom DeSanto/Don Murphy Production of a Michael Bay Film, "TRANSFORMERS" starring Shia LaBeouf, Tyrese Gibson, Josh Duhamel, Anthony Anderson, Megan Fox, Rachael Taylor with John Turturro and Jon Voight. Directed by Michael Bay from a story by John Rogers and Roberto Orci & Alex Kurtzman and a screenplay by Roberto Orci & Alex Kurtzman, the film is based on Hasbro's Transformers(TM) Action Figures. The producers are Don Murphy, Tom DeSanto, Lorenzo di Bonaventura and Ian Bryce and the executive producers are Steven Spielberg, Michael Bay, Brian Goldner and Mark Vahradian. The director of photography is Mitchell Amundsen. The production designer is Jeff Mann. The film is edited by Paul Rubell, A.C.E. and Glen Scantlebury. The costume designer is Deborah L. Scott. The music is by Steve Jablonsky. The music supervisor is Dave Jordan. The special visual effects are by Industrial Light & Magic. This film has been rated PG-13 for intense sequences of sci-fi action violence, brief sexual humor and language.

For centuries, two races of robotic aliens - the Autobots(R) and the Decepticons(R) - have waged a war, with the fate of the universe at stake. When the battle comes to Earth, all that stands between the evil Decepticons(R) and ultimate power is a clue held by young Sam Witwicky (Shia LaBeouf). An average teenager, Sam is consumed with everyday worries about school, friends, cars and girls. Unaware that he alone is mankind's last chance for survival, Sam and his friend Mikaela (Megan Fox) find themselves in a tug of war between the Autobots(R) and Decepticons(R). With the world hanging in the balance, Sam comes to realize the true meaning behind the Witwicky family motto - "No sacrifice, no victory!"

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in digital and film-based 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(R) 3D, and IMAX DMR 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 display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of June 30, 2007, there were 290 IMAX theatres operating in 40 countries.

The Company announced the 2007 Annual Meeting of Shareholders will be held at 10:30 a.m. on Monday, September 10, 2007 in New York City.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) 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'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 financial reporting and 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, 2006, as well as the Company's Quarterly Report on Form 10-Q.

SOURCE IMAX Corporation

CONTACT: Media: IMAX Corporation, New York,
Sarah Gormley, (212) 821-0155,
sgormley@imax.com;

Business Media:
Sloane & Company, New York,
Whit Clay, (212) 446-1864, wclay@sloanepr.com;

Investors: Integrated Corporate Relations,
Amanda Mullin, (203) 682-8243, amanda.mullin@icrinc.com;

Entertainment Media: Newman & Company, Los Angeles,
Al Newman, (310) 278-1560,
asn@newman-co.com/
(IMX. IMAX)