NEW YORK, Nov. 22 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced that the box office for The Polar Express: An IMAX 3D Experience was estimated to be essentially unchanged during its second weekend in IMAX(R) theatres when compared to its first, dropping only an estimated three per cent. The film will have grossed approximately $2,050,000 over the three-day period from Friday, November 19 through Sunday, November 21, following up a $2.1 million opening weekend that broke the box office record for a Hollywood simultaneous release. Playing on 60 screens in North America, the movie registered a noteworthy estimated per screen average of $34,000 over the specified three-day period and has now grossed a total of almost $6 million in only 11 days in IMAX theatres.

"The Polar Express: An IMAX 3D Experience is a huge hit," said IMAX's Co-Chairman and Co-CEO's, Richard L. Gelfond and Bradley J. Wechsler. "The phenomenal results from this weekend exceeded our expectations and convince us that this film will have strong legs. We felt that this weekend's performance would be key to forecasting the movie's long term potential, and with these results, record advanced ticket sales and positive word of mouth, we're confident it will continue to be a big success this holiday season and in years to come."

The Polar Express: An IMAX 3D Experience opened its international run this weekend with strong performances in both Mexico and Australia. The brand new Cinepolis Perisur IMAX Theatre in Mexico City sold out every show on Friday, Saturday and Sunday, including heavy advanced ticket sales - a rarity in Mexico. The film also sold out multiple shows during its opening weekend at The LG IMAX Theatre in Sydney, Australia. This weekend marked the first time a Hollywood release converted into IMAX's format had ever played in either of these countries.

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 will be 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 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX

(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(R). 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
11/22/2004
CONTACT: 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; Entertainment Media:
Newman & Company, Los Angeles, Al Newman, (818) 784-2130,
asn@newman-co.com; Analysts: IMAX Corporation, New York, Cheryl Cramer
(212) 821-0121, ccramer@imax.com