IMAX Adds Film from the Producers of "The Matrix" as Fifth Day-and-Date Hollywood Release to 2006 Film Slate

LOS ANGELES, Jan. 26 /PRNewswire-FirstCall/ - IMAX Corporation and Warner Bros. Pictures today announced that V For Vendetta, a thrilling action- adventure from the creators of The Matrix trilogy, will be simultaneously released to IMAX(R) and conventional theatres on March 17, 2006. Produced by Joel Silver and the Wachowski Brothers, directed by James McTeigue and starring Natalie Portman, V For Vendetta will be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) through IMAX DMR(R) (Digital Re-mastering) technology. Warner Bros. Pictures will be the exclusive distributor of the film to IMAX theatres worldwide.

The addition of V For Vendetta makes IMAX's 2006 film slate stronger than any previous slate in the Company's 35-year history, with five new digitally re-mastered Hollywood films - including two in IMAX(R) 3D - already scheduled to be released day-and-date to IMAX theatres this year.

"We're excited to give fans the opportunity to experience V For Vendetta in IMAX's spectacular format," said Joel Silver, producer of V For Vendetta. "The clarity and immersive quality of The IMAX Experience adds a dynamic dimension to the film's powerful visuals, breathtaking action and multi- layered storytelling."

"Moviegoers loved The Matrix Reloaded and The Matrix Revolutions in IMAX theatres, and we are thrilled to offer the next story from the Wachowski Brothers and Joel Silver in this powerful and unique way," said Dan Fellman, President of Domestic Distribution, Warner Bros. Pictures. "The IMAX theatre network generates incremental revenue for our event titles, and we are pleased to partner with IMAX for an exciting 2006 lineup."

"We believe V For Vendetta is a fantastic addition to the IMAX 2006 film slate, especially given the popularity of The Matrix series and our own excitement upon screening the film," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "IMAX now has more films slated for day- and-date release in a single year than ever before. Beginning with this film, we expect a Hollywood film to be released to the IMAX theatre network every six to eight weeks in 2006, and we are confident that the rising number of event titles will continue to drive the growth of the IMAX theatre network worldwide."

"Warner Bros. Pictures has a special expertise in developing, marketing and distributing groundbreaking, event films, and we're thrilled to once again partner with the studio to fill the March release window with this provocative and visionary film," said Greg Foster, Chairman and President of IMAX Filmed Entertainment. "Joel Silver and the Wachowski Brothers are cutting-edge filmmakers, and when moviegoers experience V For Vendetta in IMAX's format, they're going to feel like they are part of the film's revolution."

Set against the futuristic landscape of totalitarian Britain, V For Vendetta tells the story of a mild-mannered young woman named Evey (Natalie Portman) who is rescued from a life-and-death situation by a masked vigilante known only as "V." Incomparably charismatic and ferociously skilled in the art of combat and deception, V ignites a revolution when he urges his fellow citizens to rise up against tyranny and oppression. As Evey uncovers the truth about V's mysterious background, she also discovers the truth about herself - and emerges as his unlikely ally in the culmination of his plan to bring freedom and justice back to a society fraught with cruelty and corruption.

About IMAX Corporation

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Founded in 1967, IMAX Corporation (NASDAQ: IMAX; TSX: IMX) 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. 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, Sarah Gormley, (212) 821-0155, sgormley@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, Steve Abraham, (212) 821-0100; Entertainment Media: Newman & Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com