Fifth Installment of Popular Harry Potter Franchise Marks First IMAX Title for 2007 Film Slate

LOS ANGELES, CA, June 21, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- IMAX Corporation and Warner Bros. Pictures announced today that Harry Potter and the Order of the Phoenix - the third Harry Potter film to be converted into IMAX's format - will be simultaneously released to both IMAX(R) and conventional theatres on July 13, 2007. The film is based on the best-selling J.K. Rowling book and is the fifth installment of the widely successful Harry Potter film series. The last installment of the series, Harry Potter and the Goblet of Fire which opened on November 18, 2005, shattered numerous IMAX 2D box office records and grossed more than $20 million in IMAX theatres worldwide.

Harry Potter and the Order of the Phoenix is Warner Bros. Pictures' thirteenth title scheduled to be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) with IMAX DMR(R) (Digital Re-mastering) technology. Warner Bros. Pictures will be the exclusive distributor of the film to IMAX theatres worldwide.

"The Harry Potter series has been a huge success in IMAX theatres, and we are delighted to combine this next exciting installment with The IMAX Experience to offer Harry Potter fans another magical adventure for 2007," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "The IMAX theatre network is a proven source of incremental revenue that we believe will grow exponentially as more IMAX theatres continue to open around the world."

"We're delighted to be working with Warner Bros. Pictures on our 2007 film slate this early in the year," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "The last two Harry Potter films we released to IMAX theatres grossed a combined $34 million, demonstrating the strong worldwide appeal of Harry Potter and The IMAX Experience. This new title gives us a powerful kick-start to next year's film slate."

"We are proud of our partnership with Warner Bros. and producer David Heyman, and we're excited that once again Warner Bros. Pictures will be delivering a film that lends itself perfectly to The IMAX Experience," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "As we explore the possibility of converting some of the picture into IMAX(R) 3D, we expect to have an even broader audience base for the release of Harry Potter and the Order of the Phoenix in 2007."

About IMAX Corporation

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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 3D, and IMAX DMR(R) 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 March 31, 2006, there were 266 IMAX theatres operating in 36 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX 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 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 for the year ended December 31, 2005.

SOURCE IMAX Corporation

Media: IMAX Corporation, New York, Sarah Gormley, (212) 821-0155, sgormley@imax.com; Warner Bros. Pictures, Los Angeles, Andrea Marozas, (818) 954-4849, andrea.marozas@warnerbros.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

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