TORONTO, Jul 17, 2002 /PRNewswire-FirstCall via COMTEX/ --

European Commission Rejects All Counts of Euromax Lawsuit

IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that the complaint brought against IMAX by Euromax, an association of European theatres, has been dismissed by the European Commission (EC). The complaint was filed with the EC in 2000 alleging violations of European competition rules. In rejecting each count of the complaint, the EC agreed with IMAX's contention that the claims asserted by Euromax were without merit.

About IMAX Corporation:

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the world's best cinematic presentations together with IMAX, IMAX 3D and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX(R) DMR(TM) (Digital Re-mastering) that will make it possible for any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive family experiences. As of March 2002, there were more than 225 IMAX theatres operating in 30 countries. More than 700 million people have seen an IMAX presentation since the medium premiered in 1970.

IMAX(R) is a registered trademark of IMAX Corporation. More information on the Company can be found at http://www.imax.com.

SOURCE IMAX Corporation

CONTACT:
Media, Romi Schutzer, +1-212-821-0144, rschutzer@imax.com, or
Analysts, Stephen G. Abraham, +1-212-821-0140, sabraham@imax.com,
both of IMAX Corporation, New York

URL: http://www.imax.com