Top Government, Entertainment and Business Leaders Are Transported to the Moon in IMAX(R) 3D

NEW YORK, NY, Sept 22, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- More than 1,200 people had a chance to walk on the moon's surface last night, as IMAX Corporation (NASDAQ: IMAX; TSX: IMX), Lockheed Martin, Playtone Productions, NASA and the Smithsonian National Air and Space Museum unveiled Magnificent Desolation: Walking on the Moon 3D. The event was one of the biggest and most exciting IMAX premieres ever, as luminaries from the realms of government, entertainment and business filled the Smithsonian National Air and Space Museum for the film's world premiere. Some of those in attendance for the red carpet gala included: Tom Hanks, narrator, producer and co-writer of the film; nine Apollo astronauts; nearly 60 members of the US Senate and House of Representatives; the Administrator of NASA, Dr. Michael Griffin; as well as numerous other current and former astronauts.

"We were honored to have such a distinguished group of attendees on hand for the world premiere of Magnificent Desolation: Walking on the Moon 3D and sincerely appreciate the support of Lockheed Martin, Playtone, NASA, and the National Air and Space Museum in making the event such a tremendous success," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "It was an incredible thrill to be in the presence of the brave astronauts that have walked on the moon, and to share in their experiences through the power of IMAX(R) 3D. The recent successful Space Shuttle mission and NASA's announcement about plans to return to the moon are driving increased public interest in space exploration, and we're optimistic that this fantastic film will draw more attention to the topic, as well as inspire today's youth, who never had the opportunity to experience the wonder of seeing man walk on the moon."

Added Greg Foster, Chairman and President of IMAX Filmed Entertainment, "All partners involved in the making of Magnificent Desolation: Walking on the Moon 3D are extremely proud of this film, and we feel the prestigious premiere helped underscore the significance of the picture, the valuable message it delivers, and the importance of the United States space program, as we prepare to once again send American astronauts to the lunar surface."

Magnificent Desolation: Walking on the Moon 3D opens exclusively in IMAX(R) theatres beginning Friday, September 23. The film takes audiences to the lunar surface to walk alongside the 12 extraordinary astronauts who have been there - to experience what they saw, heard, felt, thought and did. The film features rarely seen NASA footage, CGI imaging and live-action renditions of the lunar landscape and propels audiences nearly a quarter-million miles above the Earth's surface.

Sponsored by Lockheed Martin, in cooperation with the National Aeronautics and Space Administration, Tom Hanks presents a Playtone/IMAX Production: Magnificent Desolation: Walking on the Moon 3D. The director of photography is Sean MacLeod Phillips. The production designer is Charles Lee. The music is by James Newton Howard. It is edited by William Schinski and written by Tom Hanks, Mark Cowen and Christopher G. Cowen. The supervising producer is Jini Durr. The executive producers are Hugh Murray and Mark Herzog. Magnificent Desolation: Walking on the Moon 3D is produced by Tom Hanks, Gary Goetzman and Mark Cowen, and directed by Mark Cowen. www.imax.com/magnificentdesolation

About IMAX Corporation

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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(R) 3D, and IMAX DMR(R) 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(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences. As of June 30, 2005, there were 259 IMAX theatres operating in more than 36 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R) 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 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 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, Romi Schutzer, (212) 821-0144, rschutzer@imax.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com; Analysts: IMAX Corporation, New York, Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com