IMAX Signs Theatre Deal With National Amusements

IMAX Signs Theatre Deal With National Amusements

Leading Exhibitor Increases IMAX(R) Theatre Base with Purchase of IMAX Owned and Operated Theatre in Providence, RI

NEW YORK, Jan. 3 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq:IMAX; TSX:IMX) and National Amusements Inc., the United States' fifth largest theatre operator, today announced IMAX's sale of the Feinstein IMAX(R) Theatre in Providence, Rhode Island to National Amusements. The IMAX theatre had been owned and operated by IMAX Corporation since it opened in June, 2000. Under the terms of the sale, National Amusements assumed ownership and control of the theatre effective close of business on December 31st, 2007.

"IMAX theatres are becoming an increasingly important component of today's modern multiplex and nothing underscores this more than when the world's top exhibitors increase the number of IMAX screens they operate," said IMAX Co-CEOs and Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "National Amusements has been a phenomenal IMAX operator both domestically and internationally, and we are pleased they are expanding their IMAX presence in Providence."

National Amusements is the first major exhibitor to operate IMAX theatres on three continents - with a total of 9 IMAX theatres in North America, South America and Europe. The exhibitor's purchase of the Feinstein IMAX Theatre in Providence, RI was made on the heels of a record-breaking box office year for the IMAX theatre network, which showcased a strong slate of digitally re-mastered IMAX releases that included 300, Spider-Man 3, Harry Potter and the Order of the Phoenix, Transformers, Beowulf and I Am Legend.

IMAX and National Amusements both have marketing partnerships with Movietickets.com, giving North American consumers greater access to The IMAX Experience(R). National Amusements' current IMAX locations in North America are at City Center 15: Cinema de Lux in White Plains, NY; Showcase Cinemas Stonybrook in Louisville, KY; Showcase Cinemas Buckland Hills in Manchester, CT; Springdale 18: Cinema de Lux in Springdale, OH; and The Bridge: Cinema de Lux in Los Angeles, CA; Showcase Cinemas Ann Arbor in Ypsilanti, MI.

Internationally, the exhibitor's IMAX locations are the IMAX Theatre at Center Norte in Buenos Aires as well as the Coca-Cola IMAX Kinostar City in St. Petersburg, Russia.

About National Amusements, Inc.
-------------------------------

National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 1,500 screens in the U.S., U.K., Latin America and Russia. National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, Cinema de Lux, and KinoStar brands. Based in Dedham, Massachusetts, it is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation.

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: IMAX: 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