LOS ANGELES, July 18 /PRNewswire/ -- Continuing its commitment to attract the industry's top filmmaking talent to the giant-screen arena, IMAX Corporation (Nasdaq: IMAX; TSE: IMX) today announced that Mark Wolper and the Wolper Organization have committed to produce its first-ever IMAX(R) film. With four Academy Awards(R), 20 Oscar(R) nominations, 51 Emmy(C) awards, 187 Emmy nominations, and seven Golden Globes to its credit, The Wolper Organization has a long-standing record for producing high-quality award-winning filmed entertainment.

Wolper's first IMAX project will be R2P (Race To The Pole), which is slated for release in early 2003. R2P will pit two teams of approximately five women and five men -- the top adventure athletes in the world -- against each other in an unparalleled race against time and the elements. Each team, provided with identical resources and forbidden to use air transportation, will be dropped off at the Equator and using their wits, athleticism and limited cash resources, have to collectively make their way to the North Pole. At stake in this winner-take-all competition is pride, title, a substantial educational/foundation grant, sponsorship and the right to compete in next year's race.

IMAX film crews will join the contestants as they trek across the globe to capture their triumphs and failures. The race has been designed so that the teams must weave their way through key historical, educational and cultural checkpoints such as the Amazon, the Grand Canyon, Niagara Falls, the Rocky Mountains, etc.

"Making this quantum leap into large-format filmmaking is something we've wanted to do for a long time," said Mark Wolper, President and Executive Producer for the Wolper Organization. "The decision to move forward with our first IMAX film is an exciting challenge. As we watch IMAX move into the mainstream, we're excited to be a part of their transformation. I can't imagine a better medium to capture the ultimate race than the ultimate film format."

"R2P will be a totally new approach for an IMAX film, while still retaining the spirit and values that IMAX has come to represent over the past three decades. By pushing these two teams to their physical, intellectual and emotional limits in an appropriately structured race -- through some of the most breathtaking and inhospitable territories in the world, we'll uniquely capture the essence of teamwork and competitive fortitude at its best," said Greg Foster, President Filmed Entertainment, IMAX Corporation. "We're so pleased that Mark and his team have embraced IMAX filmmaking. They have the talent, experience and knowledge to push the boundaries of this project -- and the standard for IMAX films - to the most groundbreaking of levels. We're confident that this will be the first of many exciting IMAX films to emanate from the Wolper Organization."

The L.A.-based Wolper Organization has had the highest rated miniseries for each of last four decades. David L. Wolper being responsible for the first two (Roots & The Rise and Fall of the Third Reich) and Mark Wolper carrying on the tradition of excellence with Thornbirds and Alex Haley's Queen. With a significant number of Academy Awards, Oscar nominations, Emmy awards, Emmy nominations, and Golden Globes, there is no doubt that Wolper has left, and continues to leave, an indelible mark on the entertainment industry. Beginning his career in television producing episodic miniseries and movies, Mark Wolper eventually moved the Wolper Organization towards feature film production, including the Academy Award-winning film L.A. Confidential starring Russell Crowe.

IMAX Corporation and its subsidiaries comprise one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies, including giant-screen images, 3D presentations, digital post-production and digital projection. There were more than 227 IMAX(R) theatres operating in 30 countries around the world as of March 31, 2001. IMAX Corporation is a publicly-traded company listed on both the Toronto and Nasdaq stock exchanges. More information on the Company can be found at http://www.imax.com.

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SOURCE IMAX Corporation

CONTACT: Victoria Dinnick of IMAX Corporation, Toronto, +1-905-403-6366, vdinnick@imax.com, or Analysts - Stephen G. Abraham of IMAX Corporation, New York, +1-212-821-0140, sabraham@imax.com; or Entertainment Media - Al Newman of Newman & Company, Los Angeles, +1-310-777-5252, asn@newman-co.com; or Hilary Winston of Wolper Organization, Los Angeles, +1-818-954-1421, hilarywinston@aol.com/