Total of Four IMAX(R) MPX(TM) Systems Scheduled to be Open in Russia By 2005

TORONTO, Dec. 23 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced an agreement with Suvar-Kazan Company Ltd., the leading exhibitor in Kazan, Russia, to install an IMAX(R) MPX(TM) theatre system in a new multiplex in the city of Kazan. Suvar is the third Russian exhibitor to sign an IMAX MPX deal this year, reflecting the traction IMAX is seeing in this developing market with a theatre system specifically designed for multiplex operators.

"The NESCAFE IMAX Theatre in Moscow has posted great results showing blockbuster Hollywood movies in IMAX's format, and we believe this has paved the way for other commercial Russian exhibitors to join our theatre network," said Larry T. O'Reilly, IMAX's Executive Vice President, Theatre Development. "IMAX(R) theatres in multiplexes are becoming the place to see Hollywood event films, and we look forward to working with Suvar-Kazan to establish their new location as a leading entertainment destination in Kazan."

"Russian moviegoers - as well as those around the world - have shown they are willing to pay a premium price to experience digitally re-mastered Hollywood films in IMAX's powerful format, and the cost effective IMAX MPX theatre system enables us to capitalize on this developing trend," said Irina Knyazeva of Suvar-Kazan Company Ltd. "By including an IMAX theatre in our multiplex, we will be uniquely positioned to offer the people of Kazan a whole new way to experience Hollywood movies."

Expected to open in November 2005, the new Suvan Kazan IMAX theatre will be part of a four screen multiplex in a large entertainment center that will also include an aqua park and restaurants. The IMAX theatre will be capable of showing both 2D and IMAX(R) 3D films, as well as Hollywood event films that have been digitally re-mastered into IMAX's format with IMAX DMR(R) (Digital Re-mastering) technology. Kazan is a city of approximately 1.4 million people located 500 miles southeast of Moscow.

Previously announced deals this year in Russia will see Panorama Cinemas open an IMAX theatre in the city of Perm in late 2005 and Kronverk Cinemas, the largest exhibitor in St. Petersburg, open an IMAX theatre in a planned flagship multiplex in the heart of St. Petersburg. Both theatres will utilize IMAX MPX theatre 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 virtually 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 entertainment experiences. As of September 30, 2004, there were more than 235 IMAX theatres operating in 35 countries.

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

SOURCE
IMAX Corporation 12/23/2004

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