First IMAX(R) Theatre in Kiev Expected to Open in Time for Harry Potter and the Order of the Phoenix: The IMAX Experience

TORONTO, Aug. 7 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Kinokompaniya "Triumph", a leading film production company in the Ukraine, today announced an agreement to install two IMAX(R) theatres in the Ukraine, with the first to open in the capital city of Kiev. The theatre is expected to open in early 2007, in time for IMAX's summer blockbuster season which includes Harry Potter and the Order of the Phoenix, set to open in July 2007. The second IMAX theatre is scheduled to be installed in a retail development in a major city outside Kiev in early 2008. With this announcement, IMAX is scheduled to have nine theatres operating in the Commonwealth of Independent States (CIS) by 2008.

"We are very excited to partner with IMAX to provide a unique moviegoing experience for consumers in Kiev," said Andriy Shpyg, general director, Kinokompaniya "Triumph". "We are delighted to bring IMAX theatres to the Ukraine and introduce IMAX's growing list of digitally re-mastered Hollywood films to another international audience."

"Following on our success in Russia, we are pleased to build our presence in the Ukraine with entertainment leaders such as Kinokompaniya "Triumph," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "As economic development and growth continues in the region, we believe the new IMAX theatres will offer more consumers in the CIS cinema exhibition market the opportunity to experience Hollywood films in the most powerful and immersive way possible."

Larry O' Reilly, IMAX's Executive Vice President of Theatre Development, added "We believe that our partnership with Kinokompaniya "Triumph", combined with greater demand for event titles being released to IMAX theatres, will continue to drive increased enthusiasm for The IMAX Experience(R) in international markets."

The new IMAX theatres will utilize IMAX MPX(R) technology, which was specifically designed to enable multiplex operators to more cost effectively enter into the IMAX theatre business, either by retrofitting an existing stadium seating auditorium or via an economical new build. The new Kinokompaniya "Triumph" IMAX theatres will be capable of playing Hollywood event films that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience, as well as original IMAX productions in 2D and IMAX(R) 3D.

About Kinokompaniya

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Set up to address the growing demand for original Russian and Ukrainian film content in the former Soviet Union, Kinokompaniya Triumph has rapidly grown to become one of the leading movie, television, and advertising production companies in the Ukraine. It currently plans to release 3 major films in the Russian and Ukrainian markets in 2007 and expects to have a further ten productions released annually from 2008.

About IMAX Corporation

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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(R) 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 March 31, 2006, there were 266 IMAX theatres operating in 36 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'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.

SOURCE IMAX Corporation

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