IMAX Announces Pricing of $160 Million of Senior Notes

TORONTO, Nov. 19 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that it has signed a purchase agreement for the sale of $160 million in aggregate principal amount of 9-5/8% senior notes with a maturity of December 1, 2010. All of the proceeds of this offering will be used to purchase or redeem the Company's outstanding 7-7/8% senior notes due December 2005, plus related fees and expenses, completing the Company's initiative, begun in 2001, of addressing the refinancing of its outstanding debt.

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:
IMAX Corporation, New York - Romi Schutzer
+1-212-821-0144
[email protected]
or
Entertainment Media:
Newman & Company, Los Angeles - Al Newman
+1-818-784-2130
[email protected]
or
Analysts:
IMAX Corporation, New York
Jennifer Gery
+1-212-821-0144
[email protected]
or
Business Media - Sloane & Company, New York - Whit Clay
+1-212-446-1864
[email protected]
Company News On-Call: http://www.prnewswire.com/comp/103201.html
/Web site: http://www.imax.com
(IMAX IMX.)