China's New World-Class Museum to Feature Two IMAX(R) Theatres

TORONTO, Feb. 7 /PRNewswire-FirstCall/ - IMAX Corporation (Nasdaq: IMAX; TSX: IMX) and the China Science and Technology Museum today announced an agreement to install two IMAX(R) theatres as part of the new world-class museum to be built in Beijing in 2008. The deal, which signed in the fourth quarter of 2006, reflects the continued implementation of the Company's growth strategy in the region, which is to expand the network in both commercial and institutional markets. The total number of IMAX theatres scheduled to be open by the end of 2009 in The People's Republic of China is now 27.

"Our success in educational venues continues to contribute to the expansion of the IMAX theatre network worldwide, and we believe there are more growth opportunities for IMAX in the institutional marketplace, especially in the People's Republic of China," said co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechlser. "We are excited by the museum's decision to install two IMAX theatres in one location. A similar installation was completed in 2001 in Shanghai with great success."

"The new IMAX theatres will offer visitors to our museum an educational and entertaining experience unlike any they've had before," said Mr. Xu, Director General of the Museum. "With the world's leading immersive cinematic experience and a broad range of IMAX films in both 2D and IMAX(R) 3D, we look forward to enriching and inspiring the lives of our guests by transporting them to far away places that they couldn't normally visit."

"We are pleased to add the China Science and Technology Museum to our list of prestigious institutional clients," added Larry T. O'Reilly, IMAX's Executive Vice President, Theatre Development. "We are optimistic that this world-class facility will pave the way for other institutions in the region that are looking to capitalize on the universal appeal of The IMAX Experience(R) to reach wider audiences."

The China Science and Technology Museum is already under construction and will be the final addition to the Beijing Olympic Park. The museum will house two different types of IMAX theatres. One will feature IMAX(R) Dome technology, which wraps a giant 180 degree IMAX Dome screen around the audience. The other will feature IMAX 3D, which has a slightly curved screen and IMAX's powerful dual lens 3D projector. Both theatres are expected to be installed by the end of 2008 or early 2009.

About IMAX Corporation

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 September 30, 2006, there were 280 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R), IMAX(R) Dome 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 installations, 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, including the transition to digital systems, 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, scheduled to be filed on November 9, 2006.

SOURCE IMAX Corporation
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