Highly-Anticipated Holiday Release from the Maker of "Babe" Features an All-Star Ensemble Cast

LOS ANGELES, Oct 03, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- IMAX Corporation and Warner Bros. Pictures today announced that Happy Feet, an animated musical comedy about a tap-dancing Emperor Penguin and his adventures in the Antarctic, will be released domestically in IMAX(R) 3D simultaneous with the film's 2D premiere in conventional theatres on November 17, 2006. The film is directed by George Miller (the Babe films, Lorenzo's Oil and the Mad Max trilogy) with an all-star ensemble cast, featuring the voices of Nicole Kidman, Elijah Wood, Robin Williams, Hugh Jackman and Brittany Murphy. Happy Feet will be digitally converted into IMAX 3D and utilize proprietary IMAX DMR(R) (Digital Re-mastering) technology. Warner Bros. Pictures will be the exclusive distributor of the film to the growing worldwide IMAX(R) theatre network, as well as to conventional theaters worldwide.

Said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures, "People who have seen footage of Happy Feet have been tremendously entertained and IMAX 3D is going to amplify that experience. The IMAX network has become a valuable part of our release strategy, and we're pleased to continue adding great films to the pipeline, which now includes three Warner Bros. Pictures - IMAX 3D releases for next year."

Agreed Veronika Kwan-Rubinek, President of International Distribution, Warner Bros. Pictures, "We enjoyed an enthusiastic reception to the release of The Polar Express in the IMAX 3D format last year, and, with Happy Feet in IMAX 3D, we look forward to the continued expansion of our relationship with IMAX overseas."

"We believe Happy Feet is going to be a major draw for IMAX theatres around the world next holiday season," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We are very encouraged by the heavy demand we're seeing from both Hollywood studios and commercial exhibitors for films converted into spectacular IMAX 3D, and delighted to continue filling out next year's commercial film slate, which is being solidified faster and earlier than ever before."

"Happy Feet has everything we look for in an IMAX release: cutting edge visuals, a heartwarming tale for audiences of all ages, an unforgettable musical score, and an incredible filmmaker with a unique vision. The film is going to look and sound spectacular as An IMAX 3D Experience(R)," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "There were a number of outstanding titles to choose from for our 2006 holiday release, and given the great working relationship we've established with Warner Bros. Pictures, as well as the fantastic character of this film, we feel Happy Feet is the perfect choice."

Happy Feet is a comedy adventure set in the land of the Emperor Penguins in the heart of Antarctica. These penguins sing, each needing their own special song to attract a soul mate. Unfortunately, our hero Mumble (ELIJAH WOOD), son of Memphis (HUGH JACKMAN) and Norma Jean (NICOLE KIDMAN), is the worst singer in the world... but he can tap dance something fierce!

Warner Bros. Pictures presents, in association with Village Roadshow Pictures, a Kennedy-Miller Film, Happy Feet, directed by George Miller. Written by George Miller, John Collee, Judy Morris and Warren Coleman. Produced by Doug Mitchell, Bill Miller and George Miller. Executive Producers are Graham Burke and Bruce Berman. Music composed by John Powell.

About IMAX Corporation

----------------------

Founded in 1967, IMAX Corporation (NASDAQ: IMAX; TSX: IMAX) is the newest distribution platform for Hollywood content and one of the world's leading entertainment technology companies. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR technology. IMAX DMR (Digital Re-mastering) makes it possible for virtually any 35mm film to be transformed 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. As of June 30, 2005, there were 259 IMAX theatres operating in more than 36 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), The IMAX Experience(R) and An IMAX 3D Experience 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 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, 2004 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; Warner Bros. Pictures, Los Angeles, Stacy Ivers, (818) 954-6228, stacy.ivers@warnerbros.com; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com; Analysts: IMAX Corporation, New York, Cheryl Cramer, (212) 821-0121, ccramer@imax.com; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com