TORONTO, March 20 /PRNewswire/ -- Imax Corporation (Nasdaq: IMAX; Toronto: IMX) today announced the appointment of John M. Davison to President, Imax Ltd. effective immediately. Davison will retain his title of Chief Operating Officer and Chief Financial Officer, Imax Corporation and will continue to work closely with the CEOs and senior management to help implement the strategic direction of the Company.

"We are very happy to make this announcement today. John has shown an unparalleled dedication and commitment to the success of the Company. The creation of this new level of management is in recognition of the increased scope of John's role, which will impact on all business activities of both the organization and its subsidiaries," said Imax co-CEOs Bradley J. Wechsler and Richard L. Gelfond.

Davison joined Imax in 1987 as Director, Corporate Development. In 1991, he became Vice President, Finance and in 1995 became Sr. Vice President, Finance and Administration. In 1997, he was given the position of Executive Vice President, Operations and CFO, responsible for the financial affairs, human resources, administration and affiliate relations activities of the company. In January 1999, Mr. Davison became Chief Operating Officer. Imax Ltd., a 100% subsidiary of Imax Corporation, is responsible for the functions of system leasing, film marketing and distribution, system maintenance, camera rental and marketing and administration.

Imax Corporation is one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies including 3D, post-production and digital projection, and the IMAX(R) brand is one of the world's most recognized entertainment brands. As of December 31, 1999, there were more than 205 IMAX theatres operating in 25 countries around the world. 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 design 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 The Walt Disney Company, Famous Players Inc. (a subsidiary of Viacom Inc.), America Online Inc. and Loews Cineplex Corp. 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. SOURCE Imax Corporation

CONTACT: Victoria Dinnick of Imax Corporation, Toronto, 905-403-6366/