TORONTO, Canada, Sep 4, 2002 /PRNewswire-FirstCall via COMTEX/ -- IMAX Corporation (Nasdaq: IMAX; TSX:IMX), the world leader in large format entertainment technology and cinematic experience, today announced that it has signed an agreement with BFC Media Limited for a state-of-the-art IMAX(R) theatre to be located in Moscow, Russia.

This new IMAX theatre will form part of the largest shopping centre yet to be built in Moscow. The centre, operated by Ramenka, the leading shopping centre operator in Moscow, will be located next to the M10 Road, Moscow's most important thoroughfare running to St. Petersburg. The Moscow IMAX Theatre is expected to open in January 2003.

"We are very happy to partner with BFC Media to bring the world's most advanced and immersive cinematic experience to Russia," said IMAX Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We are excited to add Russia, such a unique and important market, to the expanding number of countries to have an IMAX theatre. Introducing The IMAX Experience(R) to Russia, with its vast territory, is an important milestone in our strategy to expand IMAX across the world."

"We are thrilled to be introducing the first IMAX theatre to Russia," said BFC Media spokesperson Oksana Zinovieva. "Russia, with its great cinematographic history, now has an exploding movie-going population. We believe that this IMAX theatre, with its mix of both commercially-oriented films and educational programming, is the perfect fit for audiences in Moscow and throughout all of Russia."

"Historically, the successful launch of an IMAX theatre in a market has led to the increased demand for more IMAX theatres in other markets of the same region, as demonstrated by our Eastern European theatres -- where the success of the IMAX theatre in Warsaw led to the opening of three additional theatres in the region," added Messrs. Gelfond and Wechsler. "Clearly Moscow is the ideal city to open our first IMAX theatre in Russia."

The IMAX theatre, capable of showing classic IMAX 2D films as well as exciting new IMAX(R) 3D films such as IMAX's SPACE STATION, launched this spring and narrated by Tom Cruise, will be situated in the new 68,000 square meter Ramstore shopping center. Unrivalled in Russia, this Western-style mall will incorporate, in addition to the new IMAX theatre, numerous food courts, a 4-screen mini-plex cinema, hypomarket, ice-skating rink and two floors of electrical goods and retail fashion outlets.

About BFC Media Limited

BFC Media, a UK Company, will operate the Moscow IMAX theatre through a wholly owned Russian subsidiary, BFC Cinemas. BFC Media is an associate company of BUR Productions Limited which has been involved in the Russian cinematographic industry since 1988.

About IMAX Corporation

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the world's best cinematic presentations together with IMAX, IMAX 3D and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX(R) DMR(TM) (Digital Re- mastering) that will make it possible for 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 experiences. As of June 2002, there were more than 225 IMAX theatres operating in 30 countries. More than 700 million people have seen an IMAX presentation since the medium premiered in 1970.

IMAX(R), IMAX(R) 3D and IMAX(R) DMR(TM) are registered trademarks of IMAX Corporation. More information on the Company can be found at http://www.imax.com.

SOURCE IMAX

CONTACT:
Media, Romi Schutzer, +1-212-821-0144, or rschutzer@imax.com,
or Analysts, Stephen G. Abraham, +1-212-821-0140, or sabraham@imax.com, both
of IMAX Corporation, New York; or Oksana Zinovieva of BFC Media, Moscow,
+7095-241-0741; or Financial Media, Whit Clay of Sloane & Company, New York,
+1-212-446-1864, or wclay@sloanepr.com, for IMAX Corporation
/Company News On-Call: http://www.prnewswire.com/comp/103201.html

URL: http://www.imax.com
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