TORONTO, May 13, 2004 /PRNewswire-FirstCall via COMTEX/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that it filed insider trading reports with the U.S. Securities and Exchange Commission confirming the recent stock purchases of Company directors and officers. Eleven officers and directors of the Company purchased more than 250,000 shares of IMAX's common stock on the open market at an aggregate value of approximately $1 million between May 10, 2004 and May 12, 2004. Included in the purchases was a total of approximately 225,000 shares bought by IMAX's co-Chief Executive Officers and co-Chairmen Richard L. Gelfond and Bradley J. Wechsler, and Company Director Marc Utay. All of the purchases were for investment purposes.

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(R) 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX DMR(R) (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 March 31, 2004, there were more than 235 IMAX(R) theatres operating in 34 countries.

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

This press release contains forward looking statements that are based on management's 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 affect 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 performance of films, the viability of new businesses and products, and fluctuations in foreign currency and in the large format and general 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, 2003 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

SOURCE IMAX Corporation

Media:
Romi Schutzer of IMAX Corporation, New York
+1-212-821-0144
rschutzer@imax.com
Entertainment Media:
Al Newman of Newman & Company, Los Angeles
+1-818-784-2130
asn@newman-co.com
Analysts:
Jennifer Gery of IMAX Corporation, New York
+1-212-821-0144
jgery@imax.com
or
Business Media:
Whit Clay of Sloane & Company, New York
+1-212-446-1864
wclay@sloanepr.com
Company News On-Call: http://www.prnewswire.com/comp/103201.html
http://www.imax.com