IMAX(R) Theatre Contract Signings Momentum Continues

NEW YORK, Jul 15, 2010 (GlobeNewswire via COMTEX) --IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Lumiere Pavilions, one of the fastest-growing private movie exhibition chains in China, today announced an agreement to install three digital IMAX(R) theatre systems in the People's Republic of China. Under the terms of the deal, the first system is scheduled to open at the Lumiere Pavilion in the city of Chongqing at the end of 2010. The second system is scheduled to open at the Guangzhou Cultural Centre (Tai Ko Hui) in downtown Guangzhou in August, 2011 and the third system is expected to open at a yet-to-be determined location in 2012. This deal brings the total number of IMAX theatres scheduled to be operating in China by 2012 to 57, and the total number of IMAX systems signings announced year-to-date to 95, which compares to 35 systems in all of 2009.

"IMAX theatres are changing the way people in China experience movies, and the success of IMAX's existing theatres demonstrates that The IMAX Experience(R) is the premium option that moviegoers are choosing when they visit the cinema," said Jimmy Wu, Chief Executive Officer of Lumiere Pavilions Ltd. "We take a lot of pride in offering first-class services and moviegoing experiences with the latest technology and design, and IMAX ensures we continue to do so in addition to increasing the performance of our overall business."

"China is the fastest growing movie exhibition market in the world, and entering into a new relationship with one of the country's most aggressively expanding chains will contribute to the rapid growth of the IMAX network there," said IMAX's Chief Executive Officer Richard L. Gelfond. "We're very excited about our future in this market, where our network is scheduled to at least double in size over the next couple of years and we're already exploring the business of releasing Chinese films in the IMAX format with the release of Aftershock this month."

Mr. Gelfond continued, "These initial theatres with Lumiere add to the already abundant number of theatre signings for 2010. The level of signings experienced year-to-date is positioning us for significant network growth in 2010, 2011 and beyond."

About Lumiere

Lumiere Pavilions Ltd. is one of the fastest-growing private movie exhibition companies in China. The company aims to lead the trend in China's movie exhibition industry by introducing the best practice in design, construction, technology, content and service, compliant with international standards. The company plans to open 40 to 60 cinemas in China, and seeks IPO status in the major domestic or international stock exchanges within the next 3 to 5 years.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX 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 re-mastering technology that allows it to digitally transform virtually any conventional motion picture 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 for consumers. As of March 31, 2010, there were 438 IMAX theatres (316 commercial, 122 institutional) operating in 47 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imaxnews) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

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