SANTA MONICA, Calif., May 12 /PRNewswire/ -- Imax Corporation (Nasdaq: IMAX; Toronto: IMX) has consolidated its Los Angeles operations into new facilities within the westside's media-oriented Lantana Center complex at 3003 Exposition Boulevard. The structure is the new home of various Imax subsidiaries and operating units which had previously been located in the Brentwood section of Los Angeles and in Culver City, as well as several units of the Company that had not before had a West Coast presence.

"This new building brings all of our Los Angeles-based personnel under one roof. It also makes it easier for filmmakers to make large-format movies by having the most modern 15/70 post- production and projection facilities on the planet available to them in a comfortable, modern, convenient setting," said Imax co-CEOs Brad Wechsler and Rich Gelfond. "This is very important to us at a time when we are expanding our presence in the Los Angeles film community."

Designed to reflect Imax's modern and technologically progressive culture, the building contains three IMAX(R) screening rooms -- one of which is a fully-equipped 46-seat state-of-the-art IMAX 3D presentation theatre with E3D headsets and the latest generation, full-sized SONICS sound system. The other screening rooms -- one an IMAX theatre and the other an IMAX 3D SR theatre -- are used primarily for viewing production dailies and for product quality control by the Company's post-production arm, DKP 70MM Inc.

The building also features an 11,000-square-foot temperature and humidity controlled negative and film storage vault, as well as rooms for full negative cutting, film cleaning and photoguarding services. On premises equipment includes a 30-perf optical printer, scanners, two Avid bays, a Steinbeck and 35mm projection equipment for viewing print down dailies. The Santa Monica office of HLW International LLP designed the building and its interior.

Moving from Culver City is David Keighley Productions 70MM Inc., an award-winning post-production image and quality control facility that is responsible for post-production on 80% of today's large-format films. The Brentwood contingent includes Film Production, Film Marketing, Film Operations, Theatre System Marketing and Sponsorships. New to the Los Angeles offices are support personnel representing Human Resources, Information Systems and Finance.

The office will also house representatives of two Imax subsidiaries: Sonics, which develops, manufactures and installs sound systems for giant-screen IMAX theatres worldwide, and Digital Projection International, a leading developer and manufacturer of projectors used in high-end digital image delivery applications.

Imax Corporation's new Los Angeles office is located at 3003 Exposition Boulevard, Santa Monica, CA 90404. Telephone: 310-255-5500. Fax: 310-255-5501.

Imax Corporation is one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies including giant-screen images, 3D presentations, post-production and digital projection, and the IMAX(R) brand is one of the world's most recognized entertainment brands. As of March 31, 2000, there were more than 210 IMAX theatres operating in 26 countries around the world. Imax has forged strategic alliances and relationships with some of the most prominent corporations in the world including The Walt Disney Company, Famous Players Inc. (a subsidiary of Viacom Inc.), America Online Inc. and Loews Cineplex Corp. The Company's web site is located at http://www.imax.com. SOURCE IMAX Corporation

CONTACT: Al Newman of Newman & Company, Los Angeles, 310-777-5252 asn@newman-co.com, for IMAX Corporation/