Highest Grossing IMAX Opening for a Digitally Re-Mastered Animated Picture

NEW YORK, NY, Nov 21, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- IMAX Corporation (NASDAQ: IMAX; TSX: IMX)and Warner Bros. Pictures today announced that Happy Feet: The IMAX Experience contributed $2.4 million of the film's $41.5 million domestic gross on its opening weekend, representing the strongest IMAX opening ever for an animated title. The IMAX gross came from 79 IMAX(R) theatres, posting a three-day per-screen average of approximately $30,000 from Friday, November 17 through Sunday, November 19. Happy Feet has been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) with proprietary IMAX DMR(R) (Digital Re-mastering) technology.

"We are thrilled with the opening weekend success of Happy Feet in both conventional theatres and IMAX theatres," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "The IMAX version has been well received by moviegoers of all ages, continuing IMAX's tradition of turning exciting films into events for the entire family."

"The record-setting box office performance of Happy Feet :The IMAX Experience demonstrates that the consumer demand for event motion pictures in IMAX theatres continues to be strong," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "IMAX DMR releases have historically performed well during the holidays and with strong advance ticket sales already booked for the next ten days, we believe Happy Feet is poised for continued success in our theatres heading into the long Thanksgiving weekend."

"Warner Bros. Pictures and George Miller have delivered an inspiring and lovable movie that is ideally suited to The IMAX Experience," added Greg Foster, Chairman and President, IMAX Filmed Entertainment. "Audiences of all ages feel like they are actually part of the adventure as the charismatic characters slide their way through a myriad of adventures set against the sweeping ice vistas of the Antarctic on the immersive IMAX screen and the exhilarating soundtrack pumps through 12,000 watts of digital surround sound. We look forward to entertaining even more moviegoers during the upcoming holiday weekend as well as in the ensuing weeks when the film opens in many IMAX theatres internationally."

"Happy Feet" is set in the great nation of Emperor Penguins, Deep in Antarctica, you're nobody unless you can sing-which is unfortunate for Mumble, who is the worst singer in the world. He is born dancing to his own tune...tap dancing. Mumble's mom, Norma Jean, thinks this little habit is cute, but his dad, Memphis, says "it just ain't penguin." Besides, they both know that, without a Heartsong, Mumble may never find true love. Leaving home, Mumble meets the Adelie Amigos, led by Ramon. The Adelies invite Mumble to party with them in Adelie Land, where Mumble seeks the counsel of Lovelace the Guru, a crazy-feathered Rockhopper penguin who will answer any of life's questions for the price of a pebble. Together with Lovelace and the Amigos, Mumble sets out across vast landscapes and, after some epic encounters, proves that by being true to yourself, you can make all the difference in the world.

Warner Bros. Pictures presents, in association with Village Roadshow Pictures, a Kennedy Miller production, in association with Animal Logic Film. A George Miller film, "Happy Feet" features the voices of Elijah Wood, Robin Williams, Brittany Murphy, Hugh Jackman, Nicole Kidman, Hugo Weaving and Anthony LaPaglia. The film also features the tap dancing of Savion Glover. "Happy Feet" is directed by George Miller, who also co-wrote the screenplay with John Collee, Judy Morris and Warren Coleman. The film is produced by Doug Mitchell, George Miller and Bill Miller, with Zareh Nalbandian, Graham Burke, Dana Goldberg, and Bruce Berman executive producing. The music is composed by John Powell.

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 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 September 30, 2006, there were 280 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR-, 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 installations, 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, including the transition to digital systems, 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 and in the subsequent reports filed by the Company with the Securities and Exchange Commission including the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, scheduled to be filed on November 9, 2006.

SOURCE IMAX Corporation

Media: IMAX Corporation, 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; Warner Bros. Pictures, Andrea Marozas, (818) 954-4849,
andrea.marozas@warnerbros.com; Entertainment Media: Newman & Company, Al Newman,
(310) 278-1560, asn@newman-co.com

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