LOS ANGELES, CA, Dec 20, 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 has grossed $10.6 million since premiering on November 17, 2006. The film opened on 79 domestic IMAX screens and will ultimately play on a total of 28 international IMAX screens. 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. The film's total worldwide gross in both conventional and IMAX theatres is now nearly $200 million.

"We are very pleased with the film's strong performance in both conventional and IMAX theatres," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "IMAX is, once again, proving its theatres perform especially well during the holidays."

"The combination of Happy Feet and The IMAX Experience has clearly captured the hearts of moviegoers this holiday season," said Greg Foster, Chairman and President, IMAX Filmed Entertainment. "We are thrilled that the film has already reached this milestone in IMAX theatres. This accomplishment can be attributed to Warner Bros. Pictures' talent for marketing. We look forward to further success as the film continues it run across the network of IMAX theatres."

"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(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 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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