Film Crosses $10 Million Mark in Just 19 Days To Become Fastest Grossing Hollywood Simultaneous Release Three Day Weekend Box Office of $2.7 Million Beats Previous IMAX DMR(R) Record By Almost 30 Per Cent

NEW YORK, Nov 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- The Polar Express: An IMAX 3D Experience, from Warner Bros. Pictures and Castle Rock Entertainment, broke multiple records for a Hollywood simultaneous release in its third weekend in IMAX(R) theatres, including highest weekend box office gross, highest five-day box office gross and fastest to gross $10 million, IMAX Corporation (NASDAQ: IMAX; TSX: IMX) announced today. Playing on 61 screens, the film grossed an estimated $2.75 million over the three-day period from Friday, November 26 through Sunday, November 28, an increase of approximately 30% over the $2.1 million record it set during its opening weekend three weeks ago. The movie has now grossed an estimated $10.3 million in 19 days, significantly beating the record previously held by Harry Potter and the Prisoner of Azkaban: The IMAX Experience, which crossed the $10 million mark in 71 days. For the five-day period from Wednesday, November 24 through Sunday, November 28 The Polar Express: An IMAX 3D Experience grossed an estimated $3.8 million and registered a per screen average of over $62,700.

"The Polar Express: An IMAX 3D Experience continues to post incredible box office results and it's a testament to the movie and the power of The IMAX Experience(R)," said IMAX's Co-Chairmen and Co-CEO's, Richard L. Gelfond and Bradley J. Wechsler. "The film performed better this past weekend than it did both during its record-setting opening weekend and record-setting second weekend, leading us to believe that positive word of mouth is driving more and more moviegoers to take the journey in IMAX(R) 3D. We're extremely pleased with what this film has accomplished and believe it is becoming a must see movie for this holiday season."

Cinemark USA, Inc., Regal Cinemas, Loews Cineplex Entertainment Corporation, National Amusements Inc., Famous Players and Jack Loeks Theatres, Inc. all reported numerous sold out shows of The Polar Express: An IMAX 3D Experience throughout the weekend. IMAX theatres throughout the country are still reporting very strong advanced sales and international locations continued to perform well, with an additional nine international theatres scheduled to open the film next weekend. Some additional highlights include:

     -  The Comcast IMAX 3D Theatre at Jordan's Furniture in Reading,
        Massachusetts, opened just three weeks ago, continues to be the
        number one performing theatre in the IMAX network, with grosses
        expected to reach an impressive $500,000 in 21 days.
     -  The Henry Ford IMAX Theatre in Dearborn, Michigan sold out
        24 consecutive shows over the holiday weekend, nearly doubling the
        record of 13 straight sell outs set by Harry Potter and the Prisoner
        of Azkaban: The IMAX Experience.
     -  The Navy Pier IMAX Theatre in Chicago, Illinois sold out nearly every
        Thanksgiving weekend show - before the weekend even began.

"We are thrilled with the way this film is playing," stated Dan Fellman, President of Domestic Distribution, Warner Bros. Pictures. "We have believed in The Polar Express from the very beginning, and always expected that audiences would want more than ever to share the special meaning of this beautifully told story as the holiday season gets underway. They are embracing it, both in 35 millimeter and the IMAX 3D format, and this tremendous and growing support for The Polar Express predicts powerful box office performance going forward. The effect of seeing Chris Van Allsburg's classic book transformed into an unforgettable movie starring Tom Hanks and directed by Robert Zemeckis is really something to be savored on the big screen."

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 DMR(R) (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

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, (310) 278-1560,
asn@newman-co.com; Analysts: IMAX Corporation, New York, Cheryl Cramer,
(212) 821-0121, ccramer@imax.com
(IMX. IMAX)