SANTA MONICA, Calif., March 27 /PRNewswire/ -- In a move which firmly reinforces its commitment to enhancing the concept and quality of large-format films, IMAX Corporation (Nasdaq: IMAX; TSE: IMX) today announced that veteran motion picture production and marketing executive Greg Foster has joined the Company as President, Filmed Entertainment, a newly-created post.

A seasoned Hollywood executive, Foster spent 15 years at MGM/UA, where he served in various senior management posts including Executive Vice President of Production and Sr. Vice President of Motion Picture Marketing and Research. In 1999, Foster founded uMogul, a financial services company offering retail investors competitive market returns via mutual funds comprised of entertainment industry assets where he held the positions of Chairman, Co- Founder and President of uMogul.

Foster will be based at IMAX's Santa Monica office and will be responsible for overseeing all aspects of the Company's filmed entertainment activities including creative development, production, and business affairs. He will also have a hands-on role in the marketing and distribution of the large-format motion pictures produced under the IMAX banner.

In making the announcement, IMAX co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler said, "Greg's commitment to the film medium, along with his proven track record as a senior studio executive and long- standing relationships with many of the entertainment industry's key players make him a great asset to our future endeavors."

"Throughout our thirty-plus year history, IMAX has changed the way audiences have experienced movies and IMAX is positioned as the world's premier movie experience," they added. "With Greg as the driving force, we intend to advance our film strategy working with the studios to re-purpose Hollywood content for the giant-screen and to acquire rights and develop projects that would readily translate into event-status IMAX presentations which promote the inherent qualities of the IMAX brand."

"I'm thrilled by the opportunity to play a role in the expansion of IMAX's entertainment programming," said Foster of the announcement. "I'm confident that we'll create an exciting motion picture and event program for our worldwide customers that takes advantage of the unique immersive canvas that is IMAX."

During the course of his career at MGM/UA, Foster played a key role in the production and/or marketing of over 150 films, including hits such as A Fish Called Wanda, Get Shorty, King Pin, Moonstruck, Rain Man, Species, Stigmata, Thelma and Louise, Untamed Heart and several from the James Bond - 007 series. He is an Adjunct Professor at the USC Graduate School of Cinema, a member of the Harvard Business School's Mentor Program and a 1984 graduate of Georgetown University. Additionally, Foster will continue to serve as a member of uMogul's Board of Directors.

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 28 countries around the world as of September 30, 2000. IMAX has a number of subsidiaries including Digital Projection International, whose primary business is the design and manufacture of high-end digital image delivery devices and DKP/70MM Inc., award-winning specialists in image quality control and post-production. 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.

CONTACT: Victoria Dinnick of IMAX Corporation, Toronto, 905-403-6366, vdinnick@IMAX.com, or Al Newman of Newman & Co., Los Angeles, 310-777-5252, asasn@newman-co.com/