Exhibitor to Install IMAX's Digital Projection System in New Multiplex

Developments

TORONTO, June 24 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Aliance Entertainment, an Indiana-based exhibitor, today announced an agreement to install IMAX(R) theatres in two of the exhibitor's new multiplex developments planned for later this year. Under the terms of the sales agreement, Aliance Entertainment will install IMAX's new digital projection system at its new flagship location in Simpsonville, SC and a second location in the Northeastern United States, both during the fourth quarter of 2009. The exhibitor operates its theatres under the Great Escape Theatres brand.

To date, IMAX has signed contracts for over 200 IMAX digital projection systems worldwide, with 100 currently in operation.

"We're very excited to offer The IMAX Experience(R) as anchor attractions at our new flagship locations," said Anne Ragains, President and CEO of Aliance Entertainment. "IMAX theatres deliver a premium movie experience that cannot be replicated anywhere else, and the lower cost of IMAX's digital projection system has made it much easier for an exhibitor of our size to enter the IMAX business."

"Our digital projection system is creating new opportunities for us in smaller markets with respected regional exhibitors such as Aliance Entertainment," said IMAX CEO Richard L. Gelfond. "We're looking forward to working with new exhibition partners such as Aliance to introduce new audiences to The IMAX Experience later this year, and to capitalize on our robust slate of exciting Hollywood films."

IMAX's digital projection system delivers The IMAX Experience and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX(R) 3D presentations.

Upcoming IMAX films include:

2009
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Transformers: Revenge of the Fallen - DreamWorks Pictures/Paramount Pictures
Harry Potter and the Half-blood Prince - Warner Bros. Pictures
Disnsey's A Christmas Carol: An IMAX 3D Experience - Walt Disney Pictures
Avatar: An IMAX 3D Experience - Twentieth Century Fox

2010
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Alice in Wonderland: An IMAX 3D Experience - Walt Disney Pictures
Hubble 3D (working title) - IMAX/Warner Bros. Pictures
How to Train Your Dragon: An IMAX 3D Experience - DreamWorks Animation
Shrek Forever After: An IMAX 3D Experience - DreamWorks Animation

About Aliance Entertainment
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Aliance Entertainment/Great Escape Theatres was founded in 1998 by Anne Ragains. Currently Aliance operates a regional theatre circuit, consisting of 272 screens in 24 theatres in 11 states. Aliance has focused on the mid to large-sized markets with market populations from 100,000 to 400,000. Aliance develops, acquires and operates multi-screen theatres primarily in mid-sized metropolitan markets and suburban growth areas of larger metropolitan markets throughout the U.S. Aliance is committed to constructing, designing and operating the most efficient and attractive theatre facilities that cater to the movie theatre patron and provide a superior movie going experience.

About IMAX Corporation

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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(R) theatres delivering the world's best movie 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(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of March 31, 2009, there were 371 IMAX theatres (250 commercial, 121 institutional) operating in 43 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR, The 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).

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, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and ongoing inquiries by the SEC and the OSC. 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.

SOURCE IMAX Corporation - 06/24/2009

CONTACT: Media: IMAX Corporation,
New York, Sarah Gormley,
(212) 821-0155, sgormley@imax.com; Entertainment Media:
Rogers & Cowan, Los Angeles,
Jason Magner, (310) 854-8128, jmagner@rogersandcowan.com;
Investors: Heather Anthony, (212) 821-0121, (203) 682-8243,
hanthony@imax.com; Business Media:
Sloane & Company, New York, Whit Clay, (212) 446-1864,
wclay@sloanepr.com
(IMAX IMX.)