IMAX's Fastest Growing Market in the World Launches IMAX(R) DMR(TM) Technology

SHANGHAI, China, Feb. 19 /PRNewswire-FirstCall/ -- At a press conference taking place tomorrow at the Peace Cinema IMAX Theatre in Shanghai, IMAX Corporation's (Nasdaq: IMAX; TSX: IMX) co-Chair and co-CEO Richard L. Gelfond will announce the official opening of the first commercially-operated IMAX(R) theatre in The People's Republic of China. The IMAX Theatre at Peace Cinema, operated by Shanghai Evershining IMAX Theatre Co. Ltd. and Shanghai United Cinema Line Co. Ltd. -- one of China's largest commercial exhibitors -- will be the first in the region to show Hollywood event films that have been digitally re-mastered into IMAX's 15/70 format using the Company's proprietary IMAX(R) DMR(TM) (Digital Re-mastering) technology. Both the opening of the IMAX theatre and the launch of IMAX DMR in The People's Republic of China continue to demonstrate the ongoing success of IMAX's commercial and international expansion strategies.

In celebration of the theatre's opening and the Chinese debut of IMAX DMR, Universal Pictures, Imagine Entertainment and IMAX will launch Apollo 13: The IMAX Experience, marking the first time ever that the 1995 Academy Award-winning Apollo 13 will be exhibited in The People's Republic of China.

"The People's Republic of China is IMAX's fastest growing market, with eleven theatres expected to be operating by 2005," said Mr. Gelfond. "The opening of the region's first commercial IMAX theatre is indicative of the worldwide success of IMAX DMR. With more Hollywood event films becoming available in IMAX's 15/70 format and the development of more cost-effective IMAX theatre systems like our new IMAX(R) MPX(TM) system, we believe there are significant international growth opportunities for IMAX as we enter even more emerging markets."

"The positive response to IMAX DMR films from both consumers and exhibitors around the world fueled our interest in opening the IMAX Theatre at Peace Cinema," said Mr. Zhou Wenyi, General Manager of Shanghai Evershining IMAX Theatre Co. Ltd. "The IMAX Experience(R) gives us a point of differentiation from our competitors by enabling us to offer our patrons the world's most unique and immersive cinematic experiences that include Hollywood event films, as well as original IMAX(R) and IMAX(R) 3D films."

In addition to the IMAX Theatre at Peace Cinema, there are three other IMAX theatres currently operating in the region and seven more scheduled to open. There are two IMAX theatres located at the Shanghai Science and Technology Museum, and one IMAX theatre located in Harbin, at the Heilongjiang Science and Technology Museum.

About Shanghai Evershining Giant Screen Theatre Co. Ltd.

Jointly invested and founded by Shanghai Evershining Culture (Group) Co., Ltd. and Shanghai United Cinema Line Co., Ltd. in October, 2003, Shanghai Evershining IMAX Theatre Co., Ltd.'s businesses include IMAX theatre operation and investment in potential IMAX theatres. Shanghai Evershining IMAX Theatre Co., Ltd. owns and operates the IMAX theatre at Peace Cinema, the first commercial IMAX theatre in China.

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 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 2003, there were more than 235 IMAX theatres operating in 36 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR(R), IMAX(R) MPX(TM) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

SOURCE IMAX Corporation

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