TORONTO, Mar 21, 2002 /PRNewswire-FirstCall via COMTEX/ --

Universal Pictures' and Imagine Entertainment's APOLLO 13 First 35mm Live Action Film to Be Digitally Re-mastered into IMAX's 15/70 Format

Corporation (Nasdaq: IMAX; TSE: IMX) today announced that it has developed revolutionary technology that will make it possible for any 35mm live-action film to be transformed into the unparalleled image and sound quality of The IMAX Experience(R) and projected on screens eight stories high and 120 feet wide. This patent-pending proprietary system, known as IMAX(R) DMR(TM) (Digital Re-mastering), opens the IMAX theatre network up to releases from Hollywood's massive library of films ranging from well-known and well-loved classics to today's event films.

(Photo: http://www.newscom.com/cgi-bin/prnh/20020321/NYTH080 )

The Academy Award-winning "Apollo 13," produced by Brian Grazer, directed by Ron Howard and starring Tom Hanks, will be the first theatrical live-action film to be digitally re-mastered into IMAX's 15/70 format using this new technology. Universal Pictures, Imagine Entertainment and IMAX will release "Apollo 13: The IMAX Experience(R)" to the IMAX theatre network in late Summer 2002.

"Consider seeing the world's greatest films in super sharp IMAX on screens eight stories high and more than a hundred feet wide," said IMAX co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "When we first saw 'Apollo 13' transformed using this technology, we were speechless. Star fields that were three points of light in 35mm become full galaxies in IMAX.

"Due to advances that IMAX Corporation has made in re-mastering technologies, IMAX is now able to extend our re-purposing efforts beyond animated films to encompass live action, allowing any number of Hollywood's best films to be digitally re-mastered," they continued. "This has been one of our key goals for more than five years: to marry the best of Hollywood's live action with the world's best visual and audio experiences. Today this goal became a reality."

Added Nikki Rocco, president of distribution, Universal Pictures, "When we saw a test of what could be done with a few short scenes, not only were we reminded of what a fabulous film Brian and Ron made, we were absolutely blown away by the picture and sound quality of the IMAX version. We are thrilled to be embarking on this history-making venture by joining forces with Imagine and IMAX to bring Apollo back to the big screen--and I mean, the really big screen."

Producer Grazer said, "When IMAX approached us about having 'Apollo 13' as the first live-action film to be converted for IMAX theatres, we were really excited by the opportunity to be pioneers with them. As a filmmaker who is always exploring innovative ideas, I was completely captivated by this revolutionary technology. I hope our partnership with IMAX will continue and we will find other films, both old titles and new, to bring to audiences in this thrilling manner."

Director Howard added, "Seeing 'Apollo 13' presented like this, with its clarity of image and staggering dimension, it occurred to me that this is how I had always hoped the film could be seen. I just never imagined that it would become possible less than a decade after we first released it. I give my real appreciation to IMAX not only as a director, but as an audience member. IMAX has truly redefined the experience of moviegoing."

Hanks, who stars as astronaut Jim Lovell in "Apollo 13," said "When the test sequences were shown to me, all I could think is 'when can I see more?.' To watch a film this way completely immerses an audience and engages all the senses -- it's not the same as any movie-going experience before it, and in a different universe entirely than watching a film at home. Not to mention, it's not just a little terrifying to see yourself eight stories tall."

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the world's best cinematic presentations together with IMAX, IMAX 3D and the development of the highest quality digital production and presentation. The IMAX brand is recognized throughout the world for extraordinary and immersive family experiences. As of December 31, 2001, there were more than 225 IMAX theatres operating in 30 countries. More than 700 million people have seen an IMAX presentation since the medium premiered in 1970. IMAX Corporation is a publicly traded company listed on both the Toronto and Nasdaq stock exchanges. IMAX(R) is a registered trademark of IMAX Corporation. More information on the Company can be found at www.imax.com.

SOURCE IMAX Corporation

CONTACT:

Media, Victoria Dinnick of IMAX Corporation, Toronto,
+1-905-403-6366, vdinnick@imax.com, Analysts, Stephen G. Abraham of IMAX
Corporation, New York, +1-212-821-0140, sabraham@imax.com; or Entertainment
Media, Al Newman of Newman & Company, Los Angeles, +1-818-784-2130,
asn@newman-co.com, for IMAX; or Jeff Sakson of Universal Pictures, +1-818-777-4791

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URL: http://www.imax.com