First Korean Local Language Production To Be Digitally Re-Mastered for IMAX

SEOUL, Korea, Jul 7, 2011 (GlobeNewswire via COMTEX) -- IMAX Corporation (NYSE:IMAX) (TSX:IMX), and CJ Entertainment, a leading Korean film production and distribution company, today announced that the highly anticipated underwater action thriller, Sector 7, will be digitally re-mastered into the IMAX 3D format and released to IMAX(R) theatres in Korea day-and-date on Aug. 4. Director Kim Ji-Hun's adventure tale features an all-star cast that includes Ha Ji-Won, Ahn Sung-Kee, Oh Ji-Ho, Lee Han-Wi, Cha Ye-Ryeon, Park Cheol-Min, Song Sae-Byeok, Park Jung-Hak.

Sector 7 will be the first Korean language film to be released in the IMAX format. IMAX currently has 10 theatres in operation playing DMR content in Korea, with additional new theatres scheduled to open in the future, making it the Company's fifth-largest market globally and one of its fastest-growing. Some of these theatres are among IMAX's highest-grossing in the world. Local language films account for approximately 50 percent of all cinematic content shown in Korea.

"Audiences in Korea embrace the IMAX brand and presenting Sector 7 in IMAX 3D will offer our patrons the full impact and intensity of the film," said Katharine Kim, CEO of CJ Entertainment. "IMAX theatres in Korea have been very successful, and presenting our local films into the IMAX format will help us build on this momentum and give audiences what they crave."

"IMAX is a global brand and the success of other local-language titles -- including the Chinese blockbuster Aftershock -- has shown that the demand from fans around the world for the IMAX Experience is growing," said Greg Foster, IMAX Chairman and President of Filmed Entertainment. "CJ CGV has long been a supportive partner of IMAX and by presenting Sector 7 in IMAX 3D, we are able to bring this highly-anticipated action tent-pole film to fans in Korea and offer them our fully immersive presentation."

Sector 7 will launch Aug. 4 in the following IMAX theatres in Korea:

CGV Daegu
CGV Gwang-ju
CGV Ilsan
CGV Incheon
CGV Seomyun
CGV Sangam
CGV Wangsipni
CGV Yongsan
CGV Suwon
CGV Taejon

About Sector 7

In Sector 7, an underwater oil field located south of Jeju Island, Hae-jun is working as a marine equipment manager on an oil prospecting ship called Eclipse. Joining the crew is Jeong-man, a former colleague of Hae-jun's father, assigned to Eclipse as captain. Though his job is to oversee the withdrawal of the ship, he suggests conducting some drilling one last time.

After 3 weeks of preparation, Hae-jun takes new recruit underwater, but he sinks to the bottom of the sea when his equipment fails. Shortly after, crew members begin to turn up, one by one, dead,. What the few survivors soon discover is a transparent underwater creature they encountered once before. The viral monster infiltrated the ship through the drilling pipe and has been feeding on the crew to survive. For Hae-jun and his colleagues, a fight for their lives begins.

About CJ Entertainment

CJ Entertainment is Korea's leading entertainment company, with a business that encompasses film production, investment, distribution and exhibition. CJ Entertainment's business lines are extensive, operating in a broad spectrum of entertainment fields.

Through its array of films, network of premier multiplex cinemas, wide selection of video and DVD titles, the company is providing an outstanding entertainment experience to all customers, realizing its vision of becoming a truly comprehensive world-class entertainment group.

About CJ CGV

CJ CGV has been the largest multiplex theater chain since opening Korea's first multiplex cinema in 1998. CJ CGV was established through a joint venture between CJ Entertainment, Hong Kong's Golden Harvest and Australia's Village Roadshow, which later was transferred as a joint venture between CJ Entertainment and Asia Cinema Holdings before going public in December 2004. CJ CGV has recently acquired Korea's fourth largest multiplex theater chain, Primus Cinema, to solidify its presence as the leading exhibitor. CJ CGV's vast theatre chain consists of a total of 480 screens at 63 sites across the nation, with CJ CGV operating 278 screens at 36 sites under the CGV brand and Primus Cinema operating 202 screens at 27 sites under Primus brand.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry's top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company's new digital projection and sound systems - combined with a growing blockbuster film slate - are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX theaters deliver the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) (Digital Re-Mastering) technologies. IMAX DMR enables virtually any motion picture to be transformed into the unparalleled image and sound quality of The IMAX Experience.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo and Shanghai. As of December 31, 2010, there were 518 IMAX theatres (396 commercial, 122 institutional) operating in 46 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), Experience It In IMAX(R), An 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/imax) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and investigation by the SEC and the ongoing inquiry by 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.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

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