LOS ANGELES, July 7 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq: IMAX; TSX: IMX) and Columbia Pictures today announced that Spider-Man 2 will be distributed to IMAX(R) theatres worldwide this month. This widely-anticipated film, which generated a record breaking $180 million in its first six days of release in the United States and Canada, will be released to the IMAX network beginning on July 23, 2004. The film is being digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) through proprietary IMAX DMR(R) (Digital Re-mastering) technology.

"When you have a movie like Spider-Man 2, it makes sense to offer audiences an opportunity to experience the film in this incredible format," said Jeff Blake, Vice Chairman of Sony Pictures Entertainment and President of Worldwide Marketing and Distribution.

"We are very pleased to add this phenomenal film to IMAX's blockbuster 2004 lineup," said IMAX Co-CEO's Richard L. Gelfond and Bradley J. Wechsler. "About a year ago, we did tests on the first Spider-Man, and since then, we've always thought Spider-Man 2 would be fantastic as an IMAX film. Columbia Pictures' entry into the IMAX business is further evidence that the Hollywood studios are recognizing the potential of presenting their event films in IMAX's format and capitalizing on the IMAX release window."

"Spider-Man 2 is ideally suited for IMAX and to be able to offer this superb movie to fans of IMAX and the Spider-Man franchise around the world in just a few weeks is an exciting development," said Greg Foster, President of Filmed Entertainment, IMAX Corporation. "Our proprietary digital re-mastering technology is making significant advances. It now has greater flexibility than ever before, enabling Hollywood studios to move quickly to reformat their blockbuster films and seize on the consumer demand for Hollywood event films in IMAX's unparalleled format."

In Columbia Pictures Spider-Man(R) 2, two years have passed since Peter Parker (Tobey Maguire) walked away from his longtime love Mary Jane Watson (Kirsten Dunst) and decided to take the road to responsibility as Spider-Man. Peter must face new challenges as he struggles to cope with "the gift and the curse" of his powers while balancing his dual identities as the elusive superhero Spider-Man and life as a college student. The relationships Peter holds most dear are now in danger of unraveling as he clashes with the powerful, multi-tentacled villain "Doc Ock" (Alfred Molina).

Spider-Man(R) 2 reunites the cast and filmmakers from the first adventure, including Tobey Maguire, Kirsten Dunst, James Franco, Rosemary Harris and J.K. Simmons, under the leadership of director Sam Raimi and producers Laura Ziskin and Marvel's Avi Arad. Joining the ensemble cast are Alfred Molina as Dr. Otto Octavius ("Doc Ock"), Daniel Gillies as John Jameson, Vanessa Ferlito as Louise, Dylan Baker as Dr. Curt Connors and Donna Murphy as Rosalie Octavius.

Columbia Pictures Presents A Marvel Enterprises/Laura Ziskin Production Spider-Man(R) 2 starring Tobey Maguire, Kirsten Dunst, James Franco, Alfred Molina, Rosemary Harris, Donna Murphy and J.K. Simmons. The film is directed by Sam Raimi (Spider-Man, The Evil Dead). The screenplay is by two-time Oscar(R) winner Alvin Sargent (Ordinary People, Unfaithful) based on the Marvel Comic Book by Stan Lee and Steve Ditko. The screen story is by Alfred Gough & Miles Millar and Pulitzer-Prize winning author Michael Chabon. The producers are Laura Ziskin (Spider-Man, Pretty Woman) and Avi Arad (X-Men, Daredevil).

About IMAX Corporation

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. The IMAX brand is recognized throughout the world for extraordinary and immersive family entertainment experiences. As of March 31, 2004, there were more than 235 IMAX theatres operating in 34 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at http://www.imax.com .

This press release contains forward looking statements that are based on management's 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
    -0-                             07/07/2004 R
    /CONTACT:  Media: Romi Schutzer of IMAX Corporation, New York,
+1-212-821-0144, rschutzer@imax.com, or Steve Elzer of Columbia Pictures, Los
Angeles, +1-310-244-7142; Entertainment Media: Al Newman of Newman & Company,
Los Angeles, +1-818-784-2130, asn@newman-co.com; Analysts: Jennifer Gery of
IMAX Corporation, New York, +1-212-821-0144, jgery@imax.com; Business Media:
Whit Clay of Sloane & Company, New York, +1-212-446-1864, wclay@sloanepr.com/
    /Web site:  http://www.imax.com /
    (IMAX IMX.)

CO:  IMAX Corporation
ST:  California
IN:  ENT FLM
SU:  PDT

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