World's First Ever 3D Film Shot in Space Available Soon to Homes Around the Globe on DVD in 2D and 3D Formats

LOS ANGELES, Feb. 17 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX), the world leader in large format entertainment technology, and Warner Home Video today announced that IMAX's record-breaking box office sensation SPACE STATION will be released by Warner Home Video on DVD in both 2D and 3D formats in the fourth quarter of 2004. Narrated by Tom Cruise, SPACE STATION is the fastest grossing IMAX(R) 3D film in the Company's history, grossing nearly $66 million since it premiered in April 2002.

"We are thrilled to continue working with IMAX to offer movie fans top quality and unique films, both in DVD and other home entertainment formats," said Mike Saksa, Senior Vice President of Marketing for Warner Home Video. "SPACE STATION has captured the hearts and imaginations of millions of people worldwide and we now have the opportunity to add this great film to our impressive library of IMAX titles available on DVD. By releasing SPACE STATION in both 2D and 3D DVD formats, we will be offering space fans an entirely new way to experience living and working in space."

"This announcement represents an exciting expansion of IMAX's multi-facetted relationship with Warner Bros. that includes the releasing of digitally re-mastered Hollywood event films to IMAX theatres worldwide and the upcoming NASCAR film," said Greg Foster, IMAX President of Filmed Entertainment. "By adding SPACE STATION to the Warner Home Video IMAX DVD library, we continue to deliver on our commitment of satisfying the public's curiosity about space exploration while ensuring that the film reaches the widest possible audience."

"SPACE STATION has given millions of people the opportunity to experience the realities of what it is like to live and work on board the International Space Station," said Glenn Mahone, NASA's Assistant Administrator for Public Affairs. "The film illustrates the numerous challenges of human space flight, as well as highlights the story of building one of the most challenging engineering and technological endeavors in the history of exploration."

Originally released in IMAX theatres in April of 2002, SPACE STATION, is the fifth film produced by the unique public/private partnership formed 20 years ago by IMAX Corporation, Lockheed Martin Corporation, NASA and The Smithsonian Institution. This film is the most recent release from IMAX's space film legacy, which helped shape the entire large format industry. The other space films include THE DREAM IS ALIVE (1985) -- the highest grossing large format film in the history of IMAX's 15/70 format, grossing in excess of $150 million to date, BLUE PLANET (1990), DESTINY IN SPACE (1994) and MISSION TO MIR (1997).

Produced by IMAX Corporation, presented by Lockheed Martin Corporation in cooperation with the National Aeronautics & Space Administration (NASA) and narrated by Tom Cruise, SPACE STATION documents one of the most important accomplishments by NASA since landing a man on the moon -- the on-orbit construction of the International Space Station.

Having successfully released The Matrix Reloaded and The Matrix Revolutions to IMAX theatres worldwide through IMAX's revolutionary, patent pending IMAX DMR(R) technology, Warner Bros. Pictures plans to release the highly anticipated Harry Potter and The Prisoner of Azkaban in IMAX's 15/70 format in June 2004. Warner Bros. Pictures and IMAX will also be distributing the first-ever 3D motorsports film, NASCAR 3D: The IMAX Experience starting March 12, 2004. Narrated by Kiefer Sutherland and starring the drivers of NASCAR, NASCAR 3D: The IMAX Experience will put moviegoers in the driver's seat in an unprecedented way through the magic of IMAX(R) 3D technology.

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 any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive family experiences. As of September 2003, there were more than 235 IMAX theatres operating in 36 countries.

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

About Warner Home Video:

With operations in 89 international territories Warner Home Video, a Warner Bros. Entertainment Company, commands the largest distribution infrastructure in the global video marketplace. Warner Home Video's film library is the largest of any studio, offering top quality new and vintage titles from the repertoires of Warner Bros. Pictures, Turner Entertainment, Castle Rock Entertainment, HBO Home Video and New Line Home Entertainment.

The Warner Home Video/IMAX library include the following titles: T-Rex: Back to the Cretaceous, Blue Planet, The Dream Is Alive, Cosmic Voyage, Destiny In Space, Hail Columbia!, Fires of Kuwait, Into the Deep, Galapagos, Mission to Mir, Secret of Life on Earth, Survival Island and Mountain Gorilla.

SOURCE IMAX Corporation; Warner Home Video

CONTACT:
Analysts:
Jennifer Gery
+1-212-821-0144
jgery@imax.com
or
Media:
Romi Schutzer
+1-212-821-0144
rschutzer@imax.com
both of IMAX Corporation, New York
or
Press:
Emily Zalenski of Warner Home Video
+1-818-977-7450
emily.zalenski@warnerbros.com
Entertainment Media:
Al Newman of Newman & Company, Los Angeles
+1-818-784-2130
asn@newman-co.com
or
Business/Financial Media:
Whit Clay of Sloane & Company, New York
+1-212-446- 1864
wclay@sloanepr.com, for IMAX Corporation
Company News On-Call: http://www.prnewswire.com/comp/103201.html
Web site: http://www.imax.com
(IMAX)