TORONTO, Oct. 26 /PRNewswire/ -- IMAX Corporation (Nasdaq: IMAX; TSE: IMX) announced that tomorrow it will file insider trading reports with the Ontario Securities Commission representing the recent stock purchases of Company directors, officers and managers. Officers, directors and managers of IMAX have recently purchased more than 800,000 shares of IMAX's common stock representing approximately 3% of the Company's outstanding common shares. Included in the purchases were a total of approximately 390,000 shares purchased by IMAX's co-Chief Executive Officers Richard L. Gelfond and Bradley J. Wechsler as well as purchases by other senior managers including the Company's President John Davison.

"We believe strongly in IMAX's future," said IMAX co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "Although the conditions in the North American exhibition industry are contributing to a previously-announced shortfall in our earnings, we believe the market price of our stock significantly understates its underlying value. These stock purchases not only represent our management's continued commitment to IMAX but also our belief that IMAX's future is bright."

IMAX Corporation and its subsidiaries comprise one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies, including giant-screen images, 3D presentations, digital post-production and digital projection. There were more than 220 IMAX theatres operating in 26 countries around the world as of June 30, 2000. IMAX's subsidiaries include Digital Projection International, whose primary business is the design and manufacture of high-end digital image delivery devices, and Sonics Associates, a designer and manufacturer of high-end sound systems. IMAX has forged strategic alliances and relationships with some of the most prominent corporations in the world including Famous Players Inc. (a subsidiary of Viacom Inc.), America Online Inc. and Texas Instruments Inc. IMAX Corporation is a publicly traded company listed on both the Toronto and Nasdaq stock exchanges. More information on the Company can be found at http://www.imax.com.

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. Important factors that could effect these statements include the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the viability of new businesses, fluctuations in foreign currency and the commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 1999 and in the subsequent reports filed by the Company with the Securities and Exchange Commission. SOURCE IMAX Corporation

CONTACT: Victoria Dinnick of IMAX Corporation, Toronto, 905-403-6366, vdinnick@imax.com, or Steven Abraham of IMAX Corporation, New York, 212-821-0140, sabraham@imax.com; or Entertainment Media - Al Newman of Newman & Company, Los Angeles, 310-777-5252, asn@newman-co.com; or Gina Stikes of Edelman Financial, New York, 212-642-7702, or Gina_stikes@edelman.com, both for IMAX Corporation/