TORONTO, Nov. 10 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that it plans to refinance all of its outstanding debt through an offering of new senior notes with a proposed maturity of 2010. The proposed offering would complete the Company's initiative, begun in 2001, of addressing the repayment of its 7 7/8% senior notes due December 2005, of which $153 million in principal remains outstanding.

The notes have not been, and will not be registered under the U.S. Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release contains forward looking statements that are based on management 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. Some of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2002 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

SOURCE IMAX Corporation

CONTACT:
Media
Romi Schutzer of IMAX Corporation, New York
+1-212-821-0144
or
rschutzer@imax.com
or
entertainment media
Al Newman of Newman & Company, Los Angeles
+1-818-784-2130
or
asn@newman-co.com
or
business media
Whit Clay of Sloane & Company, New York,
+1-212-446-1864
or
wclay@sloanepr.com,
or
analysts
Jennifer Gery of IMAX Corporation, New York
+1-212-821-0144
or
jgery@imax.com
Company News On-Call: http://www.prnewswire.com/comp/103201.html
Web site: http://www.imax.com
(IMAX)