NEW YORK, March 23 /PRNewswire/ -- Imax Corporation (Nasdaq: IMAX) (TSE: IMX) today announced it has named Richard Intrator to the newly created position of President, Imax Enterprises and Executive Vice President, Imax Ltd. Imax Enterprises will be charged with developing new business initiatives for Imax's established giant screen theatre business as well as in the Company's other emerging areas including its digital technology initiatives.

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Intrator has participated in the media and entertainment industry for over 20 years as an investment and merchant banker, operating executive and management consultant. He has extensive experience in mergers and acquisitions, corporate finance and corporate strategy. Most recently, Intrator was Managing Director and Group Head of PaineWebber's media investment banking unit. Intrator's new position will be New York-based. 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.

"We are very pleased to have Richard join the senior management team at Imax," said Richard L. Gelfond and Bradley J. Wechsler, co-CEOs, Imax Corporation. "As Imax begins to more aggressively move into new digital business areas, his considerable experience in media and technology convergence will support and add further depth to our management team. At this time of incredible opportunity for the Company, Imax Enterprises will take the lead in developing new opportunities, both for our traditional business, as well as for new digital businesses."

Prior to PaineWebber, Intrator founded The Josara Companies in 1996 as a merchant bank focused on the needs of both traditional and new media companies. Much of Josara's activity addressed management, strategic and transactional issues related to the broad convergence of media and technology. Intrator has also held senior positions with Kidder, Peabody, The Lodestar Group, Coca Cola Entertainment (Columbia Pictures) and American Broadcasting Companies.

Intrator earned his MBA from Harvard Business School and a B.S. in Economics from the Wharton School of the University of Pennsylvania. He serves as Vice Chairman of the Board of The Lighthouse International, and is also a board member of Golden Books Family Entertainment and dotcomDistribution, Inc.

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. There were more than 205 IMAX theatres operating in 25 countries around the world as of December 31, 1999. 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, 905-403-6366/