AFM Cinemas to Install IMAX(R) MPX(TM) Theatre System at Premier Multiplex This Month

TORONTO, June 9, 2005 /PRNewswire-FirstCall via COMTEX/ -- IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and AFM Cinemas, Inc., Turkey's largest theatre chain, today announced that the exhibitor will open the first IMAX(R) theatre in Istanbul. An IMAX(R) MPX(TM) theatre system will be installed at the AFM Maltepe multiplex later this month, with the IMAX theatre expected to open by early July. The opening is part of a previously announced deal with Kultur Ve Gosteri Merkezleri Isletmecilik Ve Ticaret A.S, an exhibitor that will join the AFM Cinemas network, pending final government approval.

"AFM Cinemas has been at the forefront of the cinema business in Turkey for 40 years, and as the first to offer Hollywood movies in IMAX's unparalleled format, we continue to reinforce our leadership position," said Mehmet Altioklar, Chief Executive Officer of AFM Cinemas. "We're very pleased to add an IMAX theatre to our Maltepe multiplex and feel it will drive incremental economic returns at that location. We look forward to offering moviegoers in Istanbul The IMAX Experience(R) for the first time in just a few short weeks."

"IMAX is working with the best exhibitors, studios and filmmakers in the world, and AFM Cinemas is a fantastic addition to that growing list," said IMAX's Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "Commercial exhibitors have embraced the IMAX MPX system, which installs in less than a month and enables them to capitalize on the increasing number of Hollywood blockbusters available in IMAX's format. We believe this value proposition represents a significant global growth opportunity for IMAX and it will continue to drive growth of the commercial IMAX theatre network."

AFM Cinemas will retrofit an existing stadium seating auditorium at its eight screen Maltepe multiplex, which offers state-of-the-art amenities and just opened in February of this year. The theatre will be the first in Turkey to feature Hollywood event films that have been converted into IMAX's format with IMAX DMR(R) (Digital Re-Mastering) technology. AFM's new IMAX theatre will also exhibit a mix of entertaining and educational original IMAX productions, as well as films in the most immersive and realistic three-dimensional format: IMAX(R) 3D.

About AFM Cinemas

Founded in 1965, AFM Cinemas is Turkey's largest exhibitor with 111 screens nationwide. AFM's customer-focused management actively supports the development of both popular and art house cinema culture in Turkey. AFM Cinemas aims to be the number one choice for cinemagoers and to become a symbol of world class entertainment and quality.

About IMAX Corporation

Founded in 1967, IMAX Corporation is the newest distribution platform for Hollywood content and one of the world's leading entertainment technology companies. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR 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, 2005, there were 250 IMAX theatres operating in more than 35 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(TM) 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/A for the year ended December 31, 2004 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

SOURCE IMAX Corporation

Media: IMAX Corporation, New York, Jason Rzepka, (212) 821-0180, jrzepka@imax.com; AFM Cinemas, Istanbul, Elif Ozturk, +90 212 292 11 11-1500, elif.ozturk@afm.com.tr; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com; Analysts: IMAX Corporation, New York, Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com