IMAX Delivers Sensational Box Office Results For 2007

IMAX Delivers Sensational Box Office Results For 2007

IMAX DMR(R) Releases Gross $145 Million, Up 56% Over Previous Year

LOS ANGELES, Jan. 16 /PRNewswire-FirstCall/ -- IMAX Corporation continued its impressive box office winning streak during 2007 by generating $145 million for Hollywood releases, which is 56% higher than the $93 million that the IMAX (R) theatre network grossed during 2006. Hollywood films that played in IMAX theatres in 2007 included eight titles from 4 different studios, all of which were converted into The IMAX Experience(R) using the company's proprietary DMR technology in both 2D and IMAX(R) 3D.

The titles in IMAX's 2007 film slate that contributed to this record-setting box office performance included 300 (Warner Bros. Pictures), Spider-Man 3 (Sony), Harry Potter and the Order of the Phoenix (Warner Bros. Pictures), Transformers (Paramount Pictures), Beowulf (Paramount Pictures) and I Am Legend (Warner Bros. Pictures) as well as the early 2007 playoffs of Night at the Museum (Twentieth Century Fox) and the Polar Express re-issue (Warner Bros. Pictures).

"This milestone is another testament to strong relationships IMAX has formed with the Hollywood studios, the filmmaking community and our exhibitor partners," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "Last year's box office performance and the strong IMAX brand makes the timing ideal for the rollout of our new digital projection system in mid-2008. We look forward to delivering even more terrific Hollywood content from our studio partners as the IMAX theatre network continues to grow - making The IMAX Experience accessible to consumers in nearly every major market in the United States and in new IMAX locations worldwide."

"Our winning streak is particularly gratifying when you consider that since September 2006, we've released eight "day and date" theatrical titles from four different studios and each has opened in the number one spot the weekend they launched, with IMAX contributing as much as 13%," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "Further, five of the Hollywood titles released in IMAX finished in the top ten grossing films of 2007, which indicates that IMAX really has become part of the distribution mind set for tent pole pictures and part of the movie-going habits of audiences throughout the world. Our incredible studio partners continue to deliver amazing content, and we're so pleased that they recognize the value in making IMAX an important part of their release strategy."

Looking forward, IMAX has already secured significant titles for its film slate for 2008, 2009 and 2010 through agreements with major Hollywood studios including: The Spiderwick Chronicles (February 2008), Shine A Light (April 2008), Kung Fu Panda (June 2008), The Dark Knight (July 2008), Under the Sea 3D (February 2009), Monsters vs. Aliens 3D (March 2009), How to Train Your Dragon 3D (November 2009), Hubble 3D (working title, February 2010) and Shrek Goes Forth 3D (May 2010).

About IMAX Corporation

IMAX Corporation is one of the world's leading digital entertainment and technology companies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). IMAX's renowned projectors and new digital systems display crystal-clear images on the world's biggest screens. The digital system being developed by IMAX is configured for an IMAX MPX-style auditorium, which is designed specifically to enable multiplex operators to more cost effectively enter into the IMAX theatre business. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2007, there were 296 IMAX theatres operating in 40 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 IMAX management's 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 ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's financial reporting and accounting, 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, risks arising from potential material weaknesses in internal control over financial reporting 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 IMAX's Annual Report on Form 10-K/A for the year ended December 31, 2006, as well as IMAX's Quarterly Reports on Form 10-Q/A and Form 10-Q.

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

-------
Profile: intent