IMAX Adds Fourth Highly Anticipated Hollywood Event Film to 2006 Slate in Record Time

LOS ANGELES, Nov. 3 /PRNewswire-FirstCall/ - IMAX Corporation and Warner Bros. Pictures today announced that Poseidon, a re-envisioning of the 1972 adventure classic The Poseidon Adventure, will be simultaneously released domestically to both IMAX(R) and conventional theatres on May 12, 2006. Poseidon is directed by Wolfgang Petersen (The Perfect Storm, Troy) and tells an epic tale about a luxury ocean liner that capsizes from a colossal tidal wave, leaving its survivors to fend for themselves as they find a way out. The film will be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) and Warner Bros. Pictures will be the exclusive distributor of the film to IMAX theatres worldwide.

"The drama and intensity of Poseidon lends itself well to the power of The IMAX Experience, and we look forward to offering moviegoers the ultimate way to experience this classic adventure," said Dan Fellman, President of Domestic Distribution at Warner Bros. Pictures.

"Poseidon is going to be a major release for us in the international marketplace next year," said Veronika Kwan-Rubinek, President of International Distribution at Warner Bros. Pictures. "We are very pleased to be offering this exciting movie in the IMAX format as well as in conventional release. We believe it's exactly the type of film that audiences will respond to in IMAX's dramatic large-scale presentation."

"Poseidon: The IMAX Experience is another outstanding addition to next year's robust commercial film slate, which is being rapidly solidified and already includes four new highly anticipated Hollywood event films - the most we've had since launching the IMAX DMR(R) digital re-mastering process in 2002," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "Warner Bros. Pictures does a fantastic job of integrating us into their marketing efforts and fully "eventizes" its IMAX releases, and we look forward to continuing our great partnership on Poseidon. The rate with which our 2006 film slate is being assembled reflects the significant value The IMAX Experience brings to an event film, and we believe this strong slate will help accelerate our conversations with leading commercial exhibitors around the world."

"We've developed a very rewarding partnership with Warner Bros. Pictures the past few years, successfully working with the studio to convert several major blockbusters into must-see events in IMAX theatres, and we're delighted to join with them once again to bring moviegoers a larger-than-life Poseidon experience," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "Audiences that experience this film in IMAX's format will actually feel the rumble of the colossal tidal wave and experience the ensuing suspense and excitement as if they were on the S.S. Poseidon."

When a rogue wave capsizes a luxury cruise ship in the middle of the North Atlantic Ocean, a small group of survivors find themselves unlikely allies in a battle for their lives. As the unstable vessel rapidly floods with water, they face unimaginable odds and life-altering decisions in their desperate fight to the surface.

Warner Bros. Pictures presents a Radiant / Next Entertainment / Irwin Allen Productions / Synthesis Entertainment production of a Wolfgang Petersen film: Poseidon, starring Josh Lucas, Kurt Russell, Emmy Rossum, Jacinda Barrett, Mike Vogel, Jimmy Bennett, Mia Maestro, with Andre Braugher and Richard Dreyfuss. Directed by Wolfgang Petersen from a screenplay by Mark Protosevich and Akiva Goldsman, based on the novel by Paul Gallico, Poseidon is produced by Wolfgang Petersen, Mike Fleiss, Duncan Henderson and Akiva Goldsman. Jon J. Jashni, Kevin Burns and Sheila Allen are the executive producers. John Seale, ACS, ASC, is director of photography; Bill Sandell, production designer; and Peter Honess, ACE, editor. Costume designer is Erica Edell Phillips. Music is by Klaus Badelt. Poseidon will be distributed worldwide by Warner Bros. Pictures, a Warner Bros. Entertainment Company. This film is not yet rated.

About IMAX Corporation

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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(R) 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. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences. As of September 30, 2005, there were 261 IMAX theatres operating in more than 38 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

CONTACT: 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