Moviegoers Around the World Still Lining Up to Take the Journey in IMAX(R) 3D

Five IMAX(R) Theatres Grossed More than $1 Million Each

NEW YORK, NY, Jan. 24 /PRNewswire-FirstCall/ - Warner Bros. Pictures' The Polar Express: An IMAX 3D Experience has achieved a box office milestone, surpassing $40 million in total gross receipts in just 11 weeks of release, IMAX Corporation (NASDAQ: IMAX; TSX: IMX) announced today. Already the highest grossing IMAX DMR(R) (Digitally Re-mastered) release to date, having shattered the previous record of $14 million in just 22 weeks, the film continues to fill IMAX(R) theatres well after the end of the holiday season. The continued strong performance of the film is a testament to consumer demand for Hollywood blockbusters in IMAX's format and the box office staying power of The IMAX Experience(R).

"With the success of The Polar Express: An IMAX 3D Experience, we have solidified the IMAX theatre network as a valuable distribution platform for Hollywood event films," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "The box office results, word of mouth and awareness of the IMAX(R) 3D release of The Polar Express have all been truly unprecedented. Customer satisfaction levels with the IMAX version of Robert Zemeckis' groundbreaking film have also reached record levels, and lead us to believe the picture will be a holiday perennial in IMAX theatres."

The strong performance of The Polar Express: An IMAX 3D Experience has helped numerous IMAX theatres achieve box office records and other noteworthy results. Some highlights include:

    -  A total of five IMAX theatres showing the film have now grossed more
       than $1 million each: Comcast IMAX 3D Theatre at Jordan's Furniture in
       Reading, Massachusetts; bfi London IMAX Cinema; Henry Ford IMAX
       Theatre in Dearborn, Michigan; Chicago Navy Pier IMAX Theatre; and
       Loews IMAX Theatre Lincoln Square, New York, New York.
    -  The film helped the bfi London IMAX Cinema sell more than 51,000 total
       tickets during the month of December - more than any month in its
       five year history.
    -  The Mercian Shinagawa IMAX theatre has become the highest grossing
       location in Japan for The Polar Express, with patrons willing to pay
       nearly 40% more to attend the IMAX 3D version.

"We are thrilled with the performance of The Polar Express in IMAX 3D," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures. "It has helped establish the film as one of the 10 highest grossing movies of 2004. We are looking forward to carrying this momentum forward with the highly anticipated Charlie and the Chocolate Factory, to be released simultaneously in 35mm and IMAX theatres in July 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 the newest distribution platform for Hollywood content and 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 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,
(212) 821-0180, jrzepka@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
(IMX. IMAX)