LOS ANGELES, Sep 4, 2002 /PRNewswire-FirstCall via COMTEX/ --

Space Film Reaches Key Milestone Faster Than Any IMAX(R) 3D Film Earning $27,000,000 at the Box Office in Just 19 Weeks of Release

SPACE STATION, the first-ever IMAX(R)3D space film, continues to reach new heights, recently becoming the fastest grossing IMAX 3D film in history, amassing $27 million in just 19 weeks of release at 83 IMAX(R) theatres throughout the world. For the past 17 weeks, SPACE STATION has been one of the top 20 highest-grossing films in North America.

"We are extremely pleased with the performance of SPACE STATION," said IMAX Co-CEO's Bradley J. Wechsler and Richard L. Gelfond. "For the past 20 years, IMAX space films have played an integral part in the evolution of the large-format industry. The strong box office results of this remarkable film demonstrate the true potential of the IMAX theatre network and the power of IMAX 3D as a cinematic experience."

"This is another great chapter in IMAX's on-going chronicle of space exploration, " added Greg Foster, IMAX's President of Filmed Entertainment. "By capturing one of the most advanced engineering feats of our times and combining it with the star power of Tom Cruise and the innovative IMAX 3D technology, SPACE STATION provides our audiences with both the educational and entertainment value they have grown to expect from the IMAX brand."

Produced by IMAX Corporation (Nasdaq: IMAX; TSX:IMX), presented by Lockheed Martin Corporation in cooperation with the National Aeronautics & Space Administration (NASA) and narrated by Tom Cruise, SPACE STATION documents one of the most important accomplishments by NASA since landing a man on the moon -- the on-orbit construction of the International Space Station.

About the film:

Early in 1997, the IMAX space production team began work on SPACE STATION, which stars astronauts and cosmonauts from the United States, Canada, Japan, Russia and Europe. With the guidance of producer-director Toni Myers and consulting producer Graeme Ferguson, the men and women of the International Space Station used specially designed IMAX 3D space cameras to capture the excitement and unprecedented challenges they experienced in building the world's first international scientific research outpost in space. Showing on 83 screens worldwide, SPACE STATION is the fifth film about space to come out of the 20-year relationship between IMAX Corporation, Lockheed Martin Corporation, NASA and The Smithsonian Institution. The others include; THE DREAM IS ALIVE (1985), BLUE PLANET (1990), DESTINY IN SPACE (1994) and MISSION TO MIR (1997).

About Lockheed Martin Corporation: Through its various business programs and services, Lockheed Martin and its heritage companies have supported America's space program from its inception. From the earliest days of rocketry to the recent and continuing missions to service the Hubble Space Telescope and International Space Station, to continued interplanetary exploration, Lockheed Martin's team of scientists, engineers and support personnel are committed to furthering our knowledge of this planet and beyond. Headquartered in Bethesda, Maryland, Lockheed Martin is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. Employing about 125,000 people worldwide, Lockheed Martin had 2001 sales of $24 billion. (http://www.lockheedmartin.com)

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. The IMAX brand is recognized throughout the world for extraordinary and immersive family experiences. As of June 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 Corporation is a publicly traded company listed on both the Toronto and Nasdaq stock exchanges. IMAX(R) and IMAX(R) 3D are registered trademarks of IMAX Corporation. More information on the Company can be found at http//www.imax.com.

SOURCE IMAX Corporation

CONTACT:
Romi Schutzer, +1-212-821-0144 or rschutzer@imax.com, or
Stephen G. Abraham, +1-212-821-0140 or sabraham@imax.com, both of IMAX
Corporation; or Whit Clay of Sloane & Company, +1-212-446-1864 or
wclay@sloanepr.com for IMAX; or Al Newman of Newman & Company +1-818-784-2130
or asn@newman-co.com for IMAX Corporation
/Company News On-Call: http://www.prnewswire.com/comp/103201.html

URL: http://www.imax.com
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