--Rave Reviews, Stunning IMAX(R) 3D Images and Enthusiastic Audiences Make Waves in IMAX(R) Theatres

LOS ANGELES, Feb 17, 2009 /PRNewswire-FirstCall via COMTEX/ -- Warner Bros. Pictures Inc. and IMAX Corporation (Nasdaq: IMAX; TSX: IMX) today announced that Under the Sea 3D, narrated by Jim Carrey, opened to rave reviews in IMAX(R) theatres over the weekend, earning a total of $914,000 in domestic box office receipts on 49 screens for a per screen average of $18,661. These opening weekend results represent a 20 percent increase over the opening results of the highly successful Deep Sea 3D (2006), which is currently approaching the $80 million milestone at the global box office. This is the third original IMAX(R) 3D co-production from the partnership between Warner Bros. Pictures and IMAX.

"We're off to a fantastic start with Under the Sea 3D," said Dan Fellman, president, domestic distribution, Warner Bros. Pictures. "Howard and Michele Hall, Toni Myers and the rest of the talented filmmaking team have once again delivered a truly unique cinematic adventure and it's currently one of the best reviewed movies of the year. We anticipate it will continue to play well in IMAX theatres for years to come, just as Deep Sea 3D has done since its release in 2006."

"Under the Sea 3D represents what IMAX does best, and it is very gratifying that moviegoers of all ages are so enthusiastic about the film," said Greg Foster, Chairman and President, IMAX Filmed Entertainment. "These results reflect the successful combination of our award-winning filmmaking team, spot-on narration by Jim Carrey and savvy marketing and distribution from the Warner Bros. and IMAX teams, all wrapped up in the world's most immersive 3D cinematic format - IMAX.

Under the Sea 3D offers a uniquely inspirational and entertaining way to explore the ocean wilderness. Moviegoers are able to experience face-to-face encounters with some of the most mysterious and stunning creatures of the sea. In IMAX 3D, the images literally leap off the screen and float around the theatre, putting the audience IN the movie.

The film follows the 2006 box office hit Deep Sea 3D, which is approaching $80 million worldwide in worldwide box office receipts. Deep Sea 3D continues to draw audiences after 150 weeks in release, demonstrating the strong legs and appeal that original IMAX 3D productions have had historically.

Under the Sea 3D was filmed in IMAX 3D by award-winning Director/Cinematographer Howard Hall, produced by Toni Myers, executive produced by Graeme Ferguson, and produced for Howard Hall Productions by Michele Hall. In addition to last year's Deep Sea 3D, Hall, Ferguson and Myers were all part of the accomplished filmmaking team behind IMAX's first underwater 3D adventure, Into The Deep, which has grossed more than $70 million since its 1991 release.

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 Hollywood films around the globe, with IMAX theatres delivering the world's best movie presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R), 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). IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2008, there were 320 IMAX theatres operating in 42 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R), and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at 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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. 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.

SOURCE IMAX Corporation