-- Deal With Prominent International Exhibitor Marks Key Milestone in Company's International Joint Venture Strategy

-- IMAX's New Theatre Contract Signing Momentum Continues

NEW YORK, July 12, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and United Cinemas, today announced a joint venture agreement to install up to five digital IMAX(R) theatre systems in Japan. Three of the systems are confirmed, with two scheduled to be installed in time for the launch of Harry Potter and the Deathly Hallows this November, and the third scheduled to be installed in either late 2010 or some time in 2011. Under the terms of the agreement, the companies will have an option to install two additional IMAX theatre systems in Japan at a later date. The deal brings the total number of confirmed joint-venture IMAX theatres scheduled to be operating in Japan by the end of 2010 to eight, compared to four at the end of 2009. In addition, this new theatre deal brings the total number of announced IMAX systems signed year-to-date to 92, which compares to 35 system signings in all of 2009.

"Moviegoers in Japan have a growing number of options when deciding how to see a movie, and it is very clear that an increasing number are choosing IMAX as the best way to experience the biggest first-run movies," said Mr. Masanori Miyata, CEO, UC Cinemas. "This joint venture partnership enables us to offer our customers the world's most popular premium cinema brand, and we are very excited to open two or three locations in time for the next Harry Potter release in November."

"Entering into a new relationship with a globally recognized exhibitor like United Cinemas is an important milestone for us as we implement our international join venture strategy," said IMAX CEO Richard L. Gelfond. "Japan is one of the largest exhibition markets in the world and a growing market for IMAX. Our existing IMAX theatres in Japan have performed extremely well, and we hope the success we've had so far opens the market to more IMAX theatres. We're very much looking forward to working with UC to open these initial locations as well as exploring the possibility of additional locations."

Mr. Gelfond continued, "The IMAX Experience(R) continues to resonate with moviegoers around the globe and as a result, driving interest in our business from a diverse mix of new and existing exhibition partners. The overall number of IMAX theatre systems contracted so far this year has already more than doubled the total number of systems signings during 2009, with many of them scheduled to open in 2010 and 2011. Our signing activity is positioning us for significant network growth over the next 12 to 18 months, and we're optimistic that this momentum will continue in the foreseeable future."

About United Cinemas

United Cinemas Co. Ltd. is one of the leading movie theater chains in Japan with 218 screens. The company operates stylish multiplex theaters designed by several notable designers. The company is owned by Sumitomo Corporation (99%) and Tokyu Recreation Co., Ltd.(1%). The company was originally founded in 1996 by United Cinemas International which was a joint venture company between Universal Pictures and Paramount Pictures. In 1999, a joint venture with Sumitomo Corporation was formed and in 2004 Sumitomo Corporation bought the rest of the shares from UCI and the company merged with Japan AMC theaters in 2005.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture 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 for consumers. As of March 31, 2010, there were 438 IMAX theatres (316 commercial, 122 institutional) operating in 47 countries.

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

IMAX(R), IMAX(R) 3D, IMAX DMR(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imaxnews) and YouTube (www.youtube.com/imaxmovies).

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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

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