Film Posts Strong IMAX Opening in China

LOS ANGELES, Jan 19, 2011 (GlobeNewswire via COMTEX) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and The Walt Disney Company (NYSE:DIS) announced today that the IMAX release of Walt Disney Pictures' TRON: Legacy, the 3D high-tech adventure starring Garrett Hedlund and Oscar(R)- and Golden Globe(R)-winner Jeff Bridges, has grossed more than $51.4 million worldwide in IMAX(R) theatres to date. Domestically, the IMAX release has generated $34.7 million since opening on December 17th, 2010. Internationally, the film has generated $16.7 million. The film's overall box office in all theatres and formats worldwide has reached $328.8 million, of which approximately $51.4 million has been from IMAX theatres so far.

The IMAX release recently opened on 24 IMAX locations across China, generating approximately $1.2 million in its opening week, with a strong per screen average of over $49,000. The film is still scheduled to open in several international markets, including Germany and Austria, as well as an exclusive IMAX-only five-day engagement in France before the general nationwide release.

"These phenomenal IMAX results clearly indicate that we are achieving our goal of offering TRON fans what they want, which is a completely unique and differentiated cinematic experience," said Chuck Viane, president of global distribution for Walt Disney Studios Motion Pictures.

"Audiences love to experience well-made, visually stunning and great sounding high-tech films in IMAX and TRON: Legacy clearly delivers on all counts," said Richard L. Gelfond, CEO, IMAX Corporation. "Disney's savvy marketing campaign combined with the rapidly expanding IMAX network has made it possible to deliver the awe-inspiring experience of TRON in IMAX to a growing global audience, and we're excited to extend that experience further as the film opens in additional international markets during the weeks ahead."

"Disney has done a fantastic job of communicating the differentiated experience to consumers, and their strategy has played an important role in the strong results that IMAX theatres continue to post for the film," said Greg Foster, Chairman and President, IMAX Filmed Entertainment. "Joseph Kosinski and his talented filmmaking team have masterfully incorporated our technologies into the story-telling process and as a result, the film continues to draw audiences to our theatres worldwide. We're particularly pleased with the recent strong opening in China, where we have been able to introduce the phenomenal experience of TRON: Legacy in IMAX to our rapidly growing audience-base across the region."

About TRON: Legacy:

Walt Disney Pictures' TRON: Legacy is a 3D high-tech adventure set in a digital world that's unlike anything ever captured on the big screen. Sam Flynn (Garrett Hedlund), a rebellious 27-year-old, is haunted by the mysterious disappearance of his father Kevin Flynn (Oscar(R)- and Golden Globe(R)-winner Jeff Bridges), a man once known as the world's leading video- game developer. When Sam investigates a strange signal sent from the old Flynn's Arcade-a signal that could only come from his father-he finds himself pulled into a digital world where Kevin has been trapped for 20 years. With the help of the fearless warrior Quorra (Olivia Wilde), father and son embark on a life-and-death journey across a visually stunning cyber universe-a universe created by Kevin himself that has become far more advanced with never-before-imagined vehicles, weapons, landscapes and a ruthless villain who will stop at nothing to prevent their escape. Presented in Disney Digital 3DTM and scored by Grammy(R) Award-winning electronic music duo Daft Punk, TRON: Legacy opened in U.S. theaters on Dec. 17, 2010, in Disney Digital 3DTM, Real D 3D and IMAX(R) 3D.

TRON: Legacy stars Jeff Bridges, Garrett Hedlund, Olivia Wilde, Bruce Boxleitner, James Frain, Beau Garrett and Michael Sheen.

The film is directed by Joseph Kosinski and produced by Sean Bailey, Jeffrey Silver and Steven Lisberger with Donald Kushner serving as executive producer. Edward Kitsis and Adam Horowitz wrote the screenplay. The story is by Edward Kitsis & Adam Horowitz and Brian Klugman & Lee Sternthal, based on characters created by Steven Lisberger and Bonnie MacBird.

TRON: Legacy is being distributed worldwide by Walt Disney Studios Motion Pictures. This film has been rated PG for sequences of sci-fi action violence and brief mild language.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2010, there were 470 IMAX theatres (348 commercial, 122 institutional) operating in 45 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), Experience It In IMAX(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and investigation by the SEC and the ongoing inquiry by the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

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