Fastest Grossing IMAX Hollywood Release Shows No Signs of Slowing at Box Office

NEW YORK, Dec. 21 /PRNewswire-FirstCall/ - Warner Bros. Pictures' The Polar Express: An IMAX 3D Experience has achieved another box office milestone, surpassing $20 million in total box office receipts in only six weeks, IMAX Corporation (NASDAQ: IMAX; TSX: IMX) announced today. The film played on 77 screens around the world over the three-day period from Friday, December 17 through Sunday, December 19, grossing an estimated $2.65 million, up nearly 5% from the previous weekend and the sixth weekend in a row it has grossed more than two million dollars. The 15 international screens playing the film contributed approximately $524,000 of the total gross. The movie has now grossed an estimated total of $22.3 million since opening on November 10th, with an impressive North American per theatre average of more than $321,000.

"The Polar Express: An IMAX 3D Experience has re-written the record books for an IMAX DMR(R) release, and we're thrilled it continues to generate such fantastic results," said IMAX Co-Chairmen and Co-CEO's Richard L. Gelfond and Bradley J. Wechsler. "The way audiences have embraced this film speaks volumes about moviegoers' appetite for Hollywood blockbusters in IMAX's format, as well as their willingness to pay a premium for this immersive experience. With demand still at very high levels and additional international locations opening in the coming weeks, we believe the picture will continue to perform well through the end of the year and on into January. We also believe that it will be an "evergreen" that will continue to play and be enjoyed in future years."

The Polar Express continues to perform strongly in both IMAX and 35mm theatres, building in the week leading up to Christmas. Combined totals of IMAX and 35mm grosses exceeded $125 million in the film's sixth weekend in theaters.

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(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(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

CONTACT: Media: IMAX Corporation, New York - Jason Rzepka,
(212) 821-0180, jrzepka@imax.com; Analysts: IMAX Corporation, New York -
Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Business Media:
Sloane & Company, New York - Whit Clay, (212) 446-1864, wclay@sloanepr.com;
Entertainment Media: Newman & Company, Los Angeles - Al Newman,
(310) 278-1560, asn@newman-co.com
(IMX. IMAX)