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Colombia's Largest City to Have Country's Largest Screen

TORONTO, Oct. 5 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced an agreement with Plaza de las Americas-La Gran Plaza Comercial de Bogota, a prominent retail developer in Bogota, Colombia, to install an IMAX(R) theatre as a new attraction in the Plaza de Las Americas, the country's largest and most highly-visited mall. The theatre is scheduled to open in the third quarter of 2007. The agreement reflects IMAX's commitment to expand its network in Latin America, which now has 30 IMAX theatres scheduled to be open in the region by the end of 2008.

"We are continuing to implement our international expansion strategy with another partnership in another major city in Latin America," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "With a population of nearly 9 million, the city of Bogota is an ideal launching pad for The IMAX Experience(R) in Colombia. We are delighted to announce our partnership with Plaza de las Americas-La Gran Plaza Comercial de Bogota to bring the ultimate cinematic experience to moviegoers in Colombia for the first time."

"The IMAX Experience has been a successful draw for all types of destinations, from museums, to multiplexes, to major retail centers around the world," said Ms. Martha Lucia Stella, General Manager of Plaza de las Americas-La Gran Plaza Comercial de Bogota. "With top Hollywood movies available to the IMAX theatre network in IMAX and IMAX(R) 3D, along with a wide range of original IMAX films that are both entertaining and educational, our new IMAX theatre will remind our millions of customers that the Plaza de Las Americas is a premium destination that offers unparalleled entertainment for the entire family."

Plaza de Las Americas is the most highly-visited mall in Colombia, with nearly 30 million patrons visiting in 2005. There are 280 businesses, 33 restaurants and 247 retail outlets, making it the largest mall in Bogota. The mall's new IMAX theatre will boast Colombia's largest screen, and will be capable of showing IMAX presentations in 2D and IMAX 3D.

About La Gran Plaza Comercial

Located between Bogota's four main highways, with exposure to more than 3.9 million commuters every day, Plaza de las Americas - La Gran Plaza Comercial de Bogota is one of the fastest growing areas in the city. Its open design features more than 280 commercial units, and features many family-friendly attractions. The Plaza de las Americas is in the process of increasing its size by 30% to accommodate its rapid growth in popularity.

About IMAX Corporation

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies and the newest distribution window for Hollywood films. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) technology. IMAX DMR (Digital Re-mastering) 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 entertainment experiences. As of June 30, 2006, there were 274 IMAX theatres operating in 38 countries.

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

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, and fluctuations in foreign currency and in the large format and general commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and in the subsequent reports filed by the Company with the Securities and Exchange Commission including the Company's 10-Q for the quarter ended June 30, 2006.

SOURCE IMAX Corporation
CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; Entertainment Media: Newman & Company, Los
Angeles, Al Newman, (310) 278-1560, asn@newman-co.com; Investors: Integrated
Corporate Relations, Amanda Mullin, (203) 682-8243; Business Media: Sloane &
Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com/
(IMX. IMAX)

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