Presence in Company's Second Largest Market Continues to Expand

TORONTO, March 21 /PRNewswire-FirstCall/ - IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced an agreement with the Daqing Science and Technology Association to install an IMAX(R) theatre in the Daqing Science and Technology Museum, located outside of Harbin, the capital city of Heilongjiang Province, in North-East China. The deal reflects the continued interest in the IMAX theatre business from a wide range of exhibitors in The People's Republic of China, including commercial theatre-chains, institutions and property developers. The theatre is scheduled to be open in early 2008, in time for the Chinese New Year which begins in February.

"We are pleased with the continued enthusiasm for IMAX theatres in China and believe we can continue to grow in this important market," said IMAX Co-CEO's and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "We are delighted to expand our institutional network with a new theatre at the Daqing Science and Technology Museum, which is an important cultural and educational destination. IMAX's brand awareness throughout the world continues to increase with each new theatre, and we look forward to enhancing our presence in this important market."

"The appeal of The IMAX Experience(R) has already been demonstrated in China, and we are excited to include the IMAX theatre as an anchor attraction at our museum," said Mr. Zhang Jianguo, Chairman of Daqing Science and Technology Association. "IMAX has a history of transporting moviegoers to places they couldn't normally get to, with impressive IMAX films in both 2D and IMAX(R) 3D. We look forward to sharing these interesting educational films with our patrons."

When IMAX established its Asian headquarters in Shanghai in June 2002, there were two IMAX theatres open in the country, with two more in development. There are currently 11 IMAX theatres open in The People's Republic of China, and the total number of IMAX theatres scheduled to be open by the end of 2009 is now 28.

About Daqing Science and Technology Museum

------------------------------------------

Funded by the Daqing Municipal Government, the Daqing Secience and Technology Museum will be the premiere cultural and education facility in the city of Daqing. The museum's attractions will include the IMAX theatre, a digital planetarium and an exhibition area for interactive science and education facilities. The Museum is expected to open in 2008.

About IMAX Corporation

----------------------

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in digital and film-based motion picture technologies. The worldwide IMAX(R) network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2006, there were 280 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX 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 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, but are not limited to, 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.

SOURCE IMAX Corporation CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0144, sgormley@imax.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com; Entertainment Media: Newman &
Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com
(IMX. IMAX)