MOSCOW, Mar 13, 2003 /PRNewswire-FirstCall via COMTEX/ --

Universal Pictures, Imagine Entertainment and IMAX Will Release Academy Award-winning 'Apollo 13' for the First Time Ever in Russia

IMAX Corporation (Nasdaq: IMAX; TSE: IMX), BFC Cinemas and Nestle announced today that Russia's first IMAX(R) theatre will open in Moscow on April 4, 2003, with Nestle's leading coffee, Nescafe, as the official title sponsor. The opening of the NESCAFE IMAX(R) Theatre establishes a solid platform to launch The IMAX Experience(R) in Russia.

In celebration of the theatre's opening and Russia's Cosmonaut Day, Universal Pictures, Imagine Entertainment and IMAX will launch Apollo 13 The IMAX Experience, marking the first time ever that Apollo 13 will be exhibited in Russia -- where scientific achievement and space is an integral part of the national heritage. The 1995 Academy Award-winning film, directed by Ron Howard, produced by Brian Grazer, and starring two-time Academy Award-winner Tom Hanks, was the first 35mm live-action film to be transformed into The IMAX Experience using IMAX Corporation's proprietary IMAX(R)DMR(TM) (Digital Re-mastering) technology.

"We are thrilled to have the opportunity to introduce The IMAX Experience to Russia with BFC Cinemas and Nestle," said IMAX's co-Chairmen and co-CEO's Bradley J. Wechsler and Richard L. Gelfond. "We believe that with Nestle as the theatre sponsor, combined with the Russian premiere of Apollo 13, the NESCAFE IMAX Theatre has the perfect recipe for success: a prestigious brand sponsor, a successful theatre operator and a slate of powerful films. We are confident that this theatre will serve as the launching pad from which to expand into new cities throughout Russia."

"Nestle's new partnership with BFC Cinemas to open Russia's first IMAX theatre is a giant step forward," said Nestle's Grocery Marketing Director, Mark Shepherd. "By associating Russia's favorite coffee, Nescafe, with one of the fastest growing and most widely respected entertainment brands that represents high quality, out-of-home, wholesome family-oriented entertainment experiences, we are achieving our common goal of delivering high quality products that transcend culture and language."

"The opening of the NESCAFE IMAX Theatre is a major milestone in Russian movie-going history," said Oksana Zinovieva, Director General of BFC Cinemas. "Our venture with IMAX and Nestle enables us to introduce the most immersive cinema experience in existence to people of all ages in Russia. The IMAX Experience will transport Russian audiences to the world's most inaccessible places, offering the very best in education and entertainment. Launching Apollo 13, never seen before in Russia, is the perfect way to pay homage to Cosmonaut Yuri Gagarin and to celebrate Cosmonaut Day. Our theatre will also open with traditional large format films including Everest and Africa's Elephant Kingdom."

"Apollo 13: The IMAX Experience has enjoyed highly acclaimed runs in IMAX theatres in North America and we are thrilled that Russian audiences will finally have the chance to not only see it, but to experience it in the best possible way," said Randy Greenberg, Senior Vice President, International Marketing and Distribution, Universal Pictures. "We are honored that the launch of the film will be celebrated on Cosmonaut day, such a historic and important event in Russian history."

"The dramatic true story of Apollo 13 is incredible and even more powerful and breathtaking in the IMAX version -- and we are delighted to bring it to Russia, particularly in this important moment in history," said Brian Grazer of Imagine Entertainment. "As space is such an important part of Russia's history, Apollo 13 The IMAX Experience will hopefully continue to serve as a source of inspiration for people of all ages, as it demonstrates the value of space exploration and human triumph."

The NESCAFE IMAX Theatre is located at the new 68,000 square meter Ramstore City retail complex. Unrivalled in Russia, this Western-style mall will incorporate, in addition to the new NESCAFE IMAX theatre, numerous food courts, the KinoSphera cinema complex which contains four 35mm cinemas, hypomarket, ice-skating rink and two floors of electrical goods and retail fashion outlets. The state-of-the-art IMAX technology delivers breath-taking, crystal clear images projected onto a giant screen that spans 22m across and reaches 16m high, and is complemented with IMAX's proprietary six channel, uncompressed digital sound system. The theatre will be capable of exhibiting both 2D and 3D films and can seat up to 372 people. The 15/70 film format used by IMAX is ten times larger than a conventional 35mm film and three times larger than a standard 70mm film. The sheer size of a 15/70 film frame, combined with the unique IMAX projection technology, is the key to the extraordinary sharpness and clarity of films exhibited in IMAX theatres.

Released June 30 1995, Apollo 13 won Academy Awards for Best Film Editing and Best Sound and was nominated for Best Picture, Best Supporting Actor (Ed Harris), Best Supporting Actress (Kathleen Quinlan), Best Adapted Screenplay, Best Score, Best Art Direction and Best Visual Effects. In addition, Brian Grazer was named Best Motion Picture Producer by the Producers Guild of America and Ron Howard was named Best Motion Picture Director by the Directors Guild of America for the film. The film grossed $353.5 million worldwide. Apollo 13 was transformed into The IMAX Experience using the revolutionary IMAX DMR technology and was released in North America as Apollo 13: The IMAX Experience in September of 2002.

About Nestle

Nestle is the world's leading food company, making quality food and beverage products for well over a century. Nestle Food LLC, the Russian operating company, was founded in 1996. Today it employs 5500 people; 2002 sales exceeded 1 billion Swiss Francs. In line with its commitment to become a local corporation, Nestle operates ten factories in Russia, manufacturing a constantly growing range of food and beverage products, including popular international brands such as Nescafe and Nesquik, and Russian brands like Rossiya and Savinov. Nescafe is the leading coffee brand in the world, and the favorite coffee of Russian consumers. For more information about Nestle and Nescafe, see www.nestle.com.

About BFC Cinemas

BFC Media, a UK Company, will operate the NESCAFE IMAX theatre through a wholly owned Russian subsidiary, BFC Cinemas. BFC Media is an associate company of BUR Productions Limited which has been involved in the Russian cinematographic industry since 1988.

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(R) 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 December 2002, there were more than 230 IMAX theatres operating in 32 countries. More than 700 million people have seen an IMAX presentation since the medium premiered in 1970.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR(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

CONTACT:
Media, Romi Schutzer, New York, +1-212-821-0144, or
rschutzer@imax.com, or Analysts, Stephen G. Abraham, New York, 212-821-0140,
or sabraham@imax.com, both of IMAX Corporation; or Media, Oksana Zinovieva of
BFC Cinemas, Moscow, +7-095-241-0350, or oksanbfc@rol.ru, Business Media, BFC
Media, London, John Raymond, +44-20-7738-1092, jraymond@bfcmedia.co.uk; or
Media, Jennifer Galenkamp of Nestle Food LLC, Moscow, +7-095-725-7000, or
Jennifer.Galenkamp@ru.nestle.com; Business Media, Whit Clay of Sloane &
Company, New York, +1-212-446-1864, or wclay@sloanepr.com; or Entertainment
Media, Al Newman of Newman & Company, Los Angeles, +1-818-784-2130, or
asn@newman-co.com
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URL: http://www.imax.com
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