IMAX and VieShow Cinemas Sign Multi-Theatre Deal

TORONTO, July 27 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and VieShow Cinemas, the leading exhibitor in Taiwan, today announced an agreement to open six additional IMAX(R) theatres in Taiwan, following the strong results at its first IMAX location at the Sun VieShow Cinemas multiplex in the city of Taipei. The installations are scheduled to be completed by June 2014, and all locations will utilize IMAX's digital projection technology. The exhibitor's first IMAX location opened with the launch of DreamWorks Animation's Monsters v.s. Aliens: An IMAX 3D Experience, followed by Paramount Pictures' Transformers: Revenge of the Fallen: The IMAX Experience, which ranked the theatre as the highest grossing screen in the country, generating $125,469 on its opening weekend.

The six-theatre deal was signed following the recently announced agreement between IMAX and Chinese film studio Huayi Bros. to release mainstream Chinese films to IMAX theatres in China and other parts of Asia. There are currently 77 IMAX theatres scheduled to be operating in Asia by 2012. To date, IMAX has signed contracts for more than 220 IMAX digital projection systems worldwide, with more than 100 currently in operation.

"Moviegoers in Taipei clearly love The IMAX Experience(R)," said Charles Wang, Chairman of VieShow Cinemas. "The incredible performance of our first location has exceeded our expectations. We believe that adding more locations will boost our brand and bottom line, especially given that IMAX's film slate has expanded to include mainstream Chinese films, and the performance of our first location has proven the compelling economics of IMAX's digital projection system."

"VieShow is doing an exceptional job of marketing The IMAX Experience to its customers in Taipei and we're delighted to see such strong results from its first location," said IMAX CEO Richard L. Gelfond. "VieShow's decision to add six more locations and their enthusiasm towards IMAX helps us continue to generate momentum in Asia."

"Our digital projection technology has enabled VieShow to capitalize on the premium IMAX offering very quickly and we're very excited to expand the network with them so soon after their initial launch," added Larry O'Reilly, IMAX's Executive Vice president, Theatre Development. "The expansion of our film slate opens up new opportunities for us in Asia and we're happy to see that it is helping to motivate well-known exhibitors to secure locations."

IMAX's revolutionary digital projection system delivers The IMAX Experience and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX(R) 3D presentations.

About VieShow

VieShow Cinemas was established in 1997, having brought the era of multiplex cinemas into Taiwan. VieShow Cinemas is the current market leader in Taiwan's exhibition industry, with 7 locations island-wide, accounting for 35% of Taiwan's total box office market share. Further to continuing market expansions and development of innovative services, VieShow Cinemas established the distribution company VieVision Pictures in 2006 with the mission to provide more variety of films into Taiwan. More information about the company can be found at www.vscinemas.com.tw.

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 movie presentations using proprietary IMAX, IMAX 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, 2009, there were 371 IMAX theatres (250 commercial, 121 institutional) operating in 43 countries.

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

SOURCE: IMAX Corporation - 07/27/2009

CONTACT: Media: IMAX Corporation,
New York, Sarah Gormley,
(212) 821-0155, [email protected];
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Jason Magner, (310) 854-8128,
[email protected];
Investors: IMAX Corporation - New York,
Heather Anthony, (212) 821-0121, [email protected];
Business Media: Sloane Company, New York, Whit Clay, (212) 446-1864,
[email protected]
(IMAX IMX.)