IMAX Signs Two-theatre Deal with North American Exhibitor

IMAX Signs Two-theatre Deal with North American Exhibitor

Goodrich Quality Theaters to Open Multiplex-Based IMAX(R) Theatres in Illinois and Indiana

Strong Performance of Digitally Re-Mastered Hollywood Films Fuel Domestic Expansion

TORONTO, March 13 /PRNewswire-FirstCall/ -- IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Goodrich Quality Theaters, Inc., an exhibitor based in Grand Rapids, MI, today announced an agreement to open IMAX(R) theatres in two of the exhibitor's multiplexes. The announcement marks the Company's first North American multi-theatre commitment in 2006 and reflects the growing interest in the IMAX theatre business from domestic exhibitors.

"Consumers are agreeable to paying a premium to visit IMAX theatres for a unique cinematic experience they cannot replicate anywhere else," said Bob Goodrich of Goodrich Quality Theaters. "Installing IMAX theatres in our multiplexes will help us increase bottom line results, differentiate ourselves from competitors and honor our commitment to ensuring that moviegoers always have a memorable experience when they visit a Goodrich Quality Theater."

"The record-breaking box office year at IMAX theatres combined with our unprecedented film slate for 2006 is generating greater interest from domestic exhibitors," said IMAX co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "Goodrich Quality Theaters represents the growing number of innovative exhibitors who realize the earning potential of the IMAX theatre business. We are confident that the continued box office success of Hollywood event films in IMAX theatres will drive network growth, both in domestic and international markets."

Goodrich Quality Theaters will install one IMAX theatre as part of a new multiplex in Portage, IN and the other as part of a new construction at an existing multiplex in Batavia, IL. Both theatres are expected to be installed during the fourth quarter of 2006. They will utilize IMAX MPX(R) technology, designed specifically to enable multiplex operators to more cost effectively enter into the IMAX theatre business, either by retrofitting an existing stadium seating auditorium or via an economical new build. The new IMAX theatres will be capable of playing Hollywood event films that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R), as well as original IMAX productions in 2D and IMAX(R) 3D.

IMAX's 2006 film slate is stronger than any other in its 35-year history. Currently, there are six Hollywood event titles scheduled to be released simultaneously to IMAX and conventional theatres. Three of the titles will be converted into IMAX 3D. The slate includes: V for Vendetta: The IMAX Experience (March 17), Poseidon: The IMAX Experience (May 12), Superman Returns: The IMAX Experience (June 30), The Ant Bully: An IMAX 3D Experience (August 4), Open Season: An IMAX 3D Experience (September 29), and Happy Feet: An IMAX 3D Experience (November 17). Currently playing in IMAX theatres is Warner Bros. Pictures second original IMAX 3D film Deep Sea 3D.

About Goodrich Quality Theaters
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Founded in 1930 with just a single screen in downtown Grand Rapids, Goodrich Quality Theaters has innovated, changed and grown with the exhibition industry to include theaters in cities throughout Michigan, Indiana, Illinois, and Missouri. Goodrich currently operates 265 screens in 31 theaters.

About IMAX Corporation
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Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies and the newest distribution window for Hollywood films. IMAX delivers the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) 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 December 31, 2005, there were 266 IMAX theatres operating in 38 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 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, 2005.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley,
(212) 821-0155, sgormley@imax.com; Entertainment Media: Newman &
Company, Los Angeles, Al Newman, (310) 278-1560, asn@newman-co.com;
Investors: Integrated Corporate Relations, Amanda Mullin, (203) 682-8243;
Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864,
wclay@sloanepr.com

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