Highest Grossing Week in IMAX's History

Fastest and Highest Grossing IMAX Digitally Re-Mastered Release Continues to Outpace Expectations into the New Year

NEW YORK, NY , Jan. 3 /PRNewswire-FirstCall/ - Warner Bros. Pictures' The Polar Express: An IMAX 3D Experience again set new records for an IMAX(R) film by amassing more than $5.45 million from Sunday, December 26 through Saturday, January 1, making it the highest grossing week in IMAX's history, IMAX Corporation (NASDAQ: IMAX; TSX: IMX) announced today. In the 10 day holiday period from Friday, December 24 through Sunday, January 2, the film grossed $7.18 million on 62 screens for a per screen average of $116,000. The film grossed an estimated $2.1 million over the three-day period from Friday, December 31 through Sunday, January 2, an increase of approximately 12% over the previous weekend, and the same as its opening weekend eight weeks ago. With a total estimated worldwide box office cume of $35 million in just eight weeks of release and a domestic per screen average of approximately $500,000, the film has broken virtually every major IMAX DMR(R) (Digitally Re-mastered) box office record.

"This film has surpassed all of our expectations, capturing the imagination of millions of people around the world and clearly demonstrating how The IMAX Experience(R) can help bolster a blockbuster Hollywood film," said IMAX Co-Chairmen and Co-CEO's Richard L. Gelfond and Bradley J. Wechsler. "The Polar Express: An IMAX 3D Experience marks a key milestone in our effort to make IMAX(R) theatres the place to see event films, and with a number of impressive titles already in place for next year, we believe the buzz among consumers will continue to grow."

The Polar Express: An IMAX 3D Experience has been selling out shows all around the world for almost two months, with a number of IMAX theatres reporting record results and best holiday seasons ever. Highlights include:

    -  The new Comcast IMAX 3D Theatre at Jordan's Furniture in Reading,
       Massachusetts debuts with over $1 million in box office grosses.
    -  Cinepolis Perisur IMAX Theatre in Mexico City weekday attendance is up
       more than 20% since the new IMAX theatre opened with the film.
    -  The Henry Ford IMAX Theatre in Dearborn, Michigan sold out 96
       consecutive shows from December 17th through January 2nd , marking the
       theatre's best holiday season ever.

"The performance of The Polar Express in IMAX theatres has exceeded all of our expectations," said Dan Fellman, President of Domestic Distribution, Warner Bros. Pictures. "We are thrilled that the film's word of mouth has been so strong throughout the holiday season, with conventional theatres continuing to build the worldwide box office to approximately $257 million to date."

"It has been a tremendous experience working with Warner Bros. Pictures on this fantastic film and IMAX's first feature length 3D release. Needless to say, we couldn't be happier with the picture's record breaking results and incredible staying power," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "The response from audiences around the world has shown that Bob Zemeckis' The Polar Express is a timeless tale that will be embraced by moviegoers for years to come. We look forward with great anticipation to future projects with our partners at Warner Bros., including the highly anticipated summer event film Charlie and the Chocolate Factory on July 15th, 2005."

Castle Rock Entertainment presents, in association with Shangri-La Entertainment, a Playtone / ImageMovers / Golden Mean Production of a Robert Zemeckis Film: Tom Hanks in The Polar Express. Directed by Robert Zemeckis from a screenplay by Zemeckis & William Broyles, Jr., the film is produced by Steve Starkey, Robert Zemeckis, Gary Goetzman and William Teitler and is based on the book by Chris Van Allsburg. Tom Hanks, Jack Rapke and Chris Van Allsburg are the executive producers.

The production team includes directors of photography Don Burgess, A.S.C. and Robert Presley; production designers Rick Carter and Doug Chiang; and editors Jeremiah O'Driscoll & R. Orlando Duenas. Senior visual effects supervisors are Ken Ralston and Jerome Chen. Co-producer is Steven Boyd. Music score is by Alan Silvestri, and original songs by Glen Ballard and Alan Silvestri.

The Polar Express is being distributed worldwide by Warner Bros. Pictures, a Warner Bros. Entertainment Company. Soundtrack album on Warner Sunset/Reprise Records. This film is rated G by the MPAA.

About IMAX Corporation

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Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the creation and delivery of the world's best cinematic presentations using proprietary IMAX and IMAX(R) 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX DMR (Digital Re-mastering) that 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 family entertainment experiences. As of September 30, 2004, there were more than 235 IMAX theatres operating in 35 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information 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, 2003 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

SOURCE IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Jason Rzepka,
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