ANTZ and THE SIMPSONS Among Those Featured in New Animated IMAX(R) 3D Film,

CYBERWORLD; Jenna Elfman Signed to Voice Over Role

LOS ANGELES, Jan. 25 /PRNewswire/ -- Imax Corporation (Nasdaq: IMAX; TSE: IMX) today announced that it has joined forces with several of Hollywood's major studios, including DreamWorks SKG, Twentieth Century Fox and Sony Pictures Imageworks, to bring some of the world's most popular and beloved animated characters to the giant IMAX 3D screen in the upcoming animated motion picture, CyberWorld. This is the first time that conventional animation has been re-purposed for exhibition on the giant 3D screen using Imax's proprietary 3D technology. The film will be released to IMAX theatres worldwide beginning in October 2000.

CyberWorld is a compilation of eight segments of IMAX 3D computer generated animation converted from 2D and features:

-- the "bar" sequence from DreamWorks' hit comedy ANTZ where the main character "Z" and his buddy "Weaver" meet "Princess Bala" for the first time,

-- the "Homer(3)" segment from Fox's THE SIMPSONS where Homer Simpson gets sucked into a parallel 3D universe, and

-- "Monkey Brain Sushi" created by Sony Pictures Imageworks Inc., USA fo the Electronic Theatre at Siggraph '97 which features a mysterious and fanciful gorilla-led world.

Actress Jenna Elfman's (Dharma on ABC's "Dharma & Greg") voice will bring to life Phig, the saucy, computer generated hostess of the film who takes audiences on a wild adventure through CyberWorld, a futuristic museum that displays the most amazing three-dimensional animated exhibits in the entire universe.

"Walt Disney Pictures' Fantasia 2000: The IMAX Experience(R) elevated the bar for animated presentations and, in certain respects, took the animated film out of the category of a movie and made it into an event," said Imax co-CEOs Bradley J. Wechsler and Richard L. Gelfond. "With CyberWorld we wanted to allow audiences to be part of an animated film that can only be experienced through IMAX 3D technology. We look forward to showing the world Homer and Bart Simpson, and "Z", "Weaver" and "Princess Bala" from ANTZ, in 3D for the first time on the giant IMAX screen."

"We are very happy to be a part of Imax's first 3D animated release," said DreamWorks SKG executive Brad Globe. "Seeing ANTZ in 3D, on the giant IMAX screen, will make audiences feel a part of the ant colony and will, more importantly, expand animation beyond anything ever-before experienced by audiences anywhere in the world."

"It seems only fitting that THE SIMPSONS, a series that has always pushed the boundaries of animation, should be featured in an IMAX film that will take the genre even one step further," said Twentieth Century Fox Television Presidents Gary Newman and Dana Walden.

In addition to the eight segments of computer-generated (CG) animation, Imax also brings to life original IMAX characters for CyberWorld including Phig, and some nasty Computer Bugs. The Computer Bugs will be created with Imax's proprietary SANDDE(TM) (Stereoscopic ANimation Drawing DEvice) technology. SANDDE debuted in 1997 in the acclaimed short film Paint Misbehavin' and makes its second appearance, and feature debut, in CyberWorld.

Other CyberWorld segments include Flipbook, a flyover of a futuristic world (Satoshi Kitahara, Japan and Inertia Pictures, USA); Out of the Box, a whimsical aerial circus (REZN8, USA); Liberation, a music video come to life in 3D (Pet Shop Boys Partnership/Eye Developments, England); Krakken, an underwater fantasy adventure (Ex MACHINA, France); and Joe Fly and Sanchez, a hilarious slapstick slice of insect life (Spans & Partner, Germany).

Original IMAX character segments are directed by Colin Davies (Spin Entertainment, Toronto) and by Elaine Despins (Imax Sandde Animation Inc., Montreal) from an original screenplay. Roman Kroitor and Steve Hoban are co-producers of the SANDDE computer bug segments. CyberWorld is produced by Hugh Murray and Steve Hoban.

Founded in 1967, Imax Corporation has consistently delivered the world's premiere cinematic experiences. There were more than 200 IMAX theatres in 25 countries as of September 30, 1999, with a backlog of more than 80 theatre systems expanding Imax's reach into 15 new countries during the next few years. More than 500 million people have seen an IMAX presentation since the medium premiered in 1970. In 1999, more than 70 million people worldwide visited an IMAX theatre. 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 and Loews Cineplex Corp. In 1997, Imax was awarded an Oscar(R) for Scientific and Technical Achievement by the Academy of Motion Picture Arts and Sciences.

SOURCE Imax Corporation

CONTACT: Victoria Dinnick, 905-403-6366, or vdinnick@imax.com, Toronto, or Analysts - Stephen Abraham, 212-821-0140, or sabraham@imax.com, New York, both of Imax Corporation; or Entertainment Media - Al Newman of Newman & Company, Los Angeles, 310-777-5252, or asn@newman-co.com; or Silvia Davi of Edelman Financial, New York, 212-704-8217, or silvia_davi@edelman.com/