U.S. Exhibitor to Add Specially-Designed Multiplex IMAX(R) System to Indiana Theatre Chain

LAS VEGAS, March 22 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced at the 2004 ShoWest conference in Las Vegas that it has signed a deal with Indiana-based Showplace Cinemas to add an IMAX(R) theatre to one of its popular multiplexes in Evansville, Indiana. The specific location of the theatre will be announced soon. Expected to open in November 2004, Showplace Cinemas' IMAX theatre will utilize the revolutionary new IMAX(R) MPX(TM) technology, which was designed specifically for multiplex operators. The deal signals IMAX's continued success in implementing its commercial multiplex strategy with the combination of its proprietary IMAX DMR(R) (Digital Re-Mastering) and IMAX MPX technologies driving signings. Within the first year of introducing the IMAX MPX system at last year's ShoWest conference, IMAX already has contracts for more than 10 systems.

With lower capital and operating costs required, the IMAX MPX theatre system reduces the cost of entry into the IMAX theatre business for commercial exhibitors. The new theatre system is designed to enable multiplex operators to add an IMAX theatre to an existing multiplex or to retrofit two existing multiplex auditoriums into an IMAX theatre. In addition to its ability to show traditional IMAX and IMAX(R) 3D films, the special theatre geometry of the IMAX MPX is well suited to the exhibition of Hollywood event films that have been transformed into the unparalleled image and sound quality of The IMAX Experience(R) through the revolutionary IMAX DMR technology.

"The IMAX Experience provides Showplace with a unique entertainment offering that will differentiate our multiplex by providing the most powerful and immersive cinematic experience in existence," said Paul Stieler, President of Showplace Cinemas. "The success of IMAX DMR films to date combined with the strong slate of future IMAX DMR films and traditional IMAX films, drove our decision to add an IMAX theatre to one of our multiplexes. With the IMAX MPX theatre system, we are able to do this in a cost-effective way."

"We are thrilled to see the growing interest in this technology among North American commercial exhibitors such as Showplace Cinemas," said IMAX's Co-Chairmen and Co-CEO's, Richard L. Gelfond and Bradley J. Wechsler. "The success of Hollywood films in IMAX's format combined with the advent of our multiplex-tailored IMAX MPX theatre system has led to the increase in the number of commercial exhibitors entering into the IMAX theatre business around the world. We expect to see this strong pace of IMAX MPX signings increase even further throughout 2004 and 2005."

About Showplace Cinemas:

Founded in 1973, Showplace Cinemas is a prominent exhibitor in the state of Indiana. They currently operate 46 screens in four multiplexes in Evansville and Newburgh.

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 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX DMR (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. The IMAX brand is recognized throughout the world for extraordinary and immersive family entertainment experiences. As of December 2003, there were 240 IMAX theatres operating in more than 35 countries.

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

SOURCE IMAX Corporation

CONTACT:
Media/Analysts - Jennifer Gery of IMAX Corporation, New York
+1-212-821-0161
jgery@imax.com
Business Media - Whit Clay of Sloane & Company, New York
+1-212-446-1864
wclay@sloanepr.com
Paul Stieler, +1-812-426-0133
movie4200@aol.com
for Showplace Cinemas
Entertainment Media - Al Newman of Newman & Company, Los Angeles
+1-818-784-2130
asn@newman-co.com
Company News On-Call: http://www.prnewswire.com/comp/103201.html
Web site: http://www.imax.com
(IMAX IMX.)