With New 3D Space Cameras On Board, Production Of First IMAX® 3D Film In Space Officially Begins

KENNEDY SPACE CENTER, FL October 11, 2000 – Tonight’s scheduled launch of the Discovery Space Shuttle (STC-92/3A) marks not only NASA’s 100th U.S. shuttle mission, but also the maiden mission for two new IMAX 3D cameras specially-designed for use to capture stereographic images in space. The footage will be used in the world’s first IMAX 3D film about the construction of the International Space Station which is being produced by IMAX Corporation (Nasdaq: IMAX; TSE: IMX) and Lockheed Martin Corporation. It is expected to be released in 2002.

Signed in May 1997, the Space Act Agreement between the National Aeronautics and Space Administration and IMAX gave IMAX the ability to make the first 3D film from space. The agreement renewed a long-standing public/private partnership between NASA and IMAX which enabled the production of four IMAX films: The Dream Is Alive (1985), Blue Planet (1990), Destiny In Space (1994) and Mission To Mir (1997), all of which were sponsored by Lockheed Martin and the Smithsonian's National Air and Space Museum.

The IMAX 3D Cargo Bay Camera (ICBC3D) and its sister in-cabin IMAX 3D camera were subsequently developed by Lockheed Martin and IMAX as a result of an agreement between the two companies in May 1997. The in-cabin IMAX 3D camera was launched September 8th and was transferred to the International Space Station September 13th. It will remain on the Station through May, 2001 where the astronauts and cosmonauts on board will use it to film their activities inside the station as it evolves into a permanently habitable home in space. The ICBC3D, which is mounted outside in Discovery's cargo bay, is scheduled to fly three subsequent missions. It will be used to capture spectacular views of the astronauts on Extra Vehicular Activity (EVA) as they perform the never-before-attempted task of assembling the station on orbit. The ICBC3D is remotely controlled by the crew from inside the shuttle, using a laptop computer connected to a video camera that allows them to frame their shots, select focus, exposures, and for the first time, choose from alternate camera lenses.

"We are very excited to have this specially-designed camera on-board ‘Discovery’, NASA’s 100th shuttle mission. IMAX cameras have documented the space program since the first IMAX space film captured the shuttle’s inaugural lift off in Hail Columbia!,” said IMAX Corporation’s co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We are very proud to be working with Lockheed Martin to document this incredible undertaking.”

“Lockheed Martin is pleased to be part of this international initiative. Through the fidelity of 3D photography, millions of people worldwide will now be able to experience the thrilling adventure of living and working in space," said Vance Coffman, Lockheed Martin chairman and CEO.

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. The Corporation’s core businesses are systems integration, space, aeronautics, and technology services. Lockheed Martin had 1999 sales surpassing $25 billion.

IMAX Corporation and its subsidiaries comprise one of the world’s leading entertainment technology companies, with particular emphasis on film and digital imaging technologies, including giant-screen images, 3D presentations, digital post-production and digital projection. There were more than 220 IMAX theatres operating in 26 countries around the world as of June 30, 2000. IMAX’s subsidiaries include Digital Projection International, whose primary business is the design and manufacture of high-end digital image delivery devices, and Sonics Associates, a designer and manufacturer of high-end sound systems. IMAX has forged strategic alliances and relationships with some of the most prominent corporations in the world including Famous Players Inc. (a subsidiary of Viacom Inc.), America Online Inc. and Texas Instruments Inc. IMAX Corporation is a publicly traded company listed on both the Toronto and Nasdaq stock exchanges. More information on the Company can be found at www.imax.com.

IMAX® and The IMAX Experience® are registered trademarks of IMAX Corporation.

For additional information please contact:

IMAX Corporation, Toronto
Victoria Dinnick
905-403-6366
vdinnick@IMAX.com

Lockheed Martin Corporation
Jim Fetig
301-897-6352
james.fetig@lmco.com

Newman & Company, Los Angeles
Al Newman (Entertainment Media)
310-777-5252
asn@newman-co.com