IMAX Signs Deal With DreamWorks Animation For Fifth Title

IMAX Signs Deal With DreamWorks Animation For Fifth Title

Madagascar: Escape 2 Africa To Be Released Into IMAX(R) Theatres On November 7, 2008

LOS ANGELES, May 12 /PRNewswire-FirstCall/ -- IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and DreamWorks Animation SKG, Inc. (NYSE:DWA) today announced an agreement to release Madagascar: Escape 2 Africa into IMAX(R) theatres worldwide on November 7, 2008. The agreement completes IMAX's integration into DreamWorks Animation's release strategy for the studio's next five theatrical releases from June 2008 to May 2010.

Under the terms of the agreement, Madagascar: Escape 2 Africa will be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R) and play for a special release in IMAX theatres, including select new IMAX(R) Digital theatres, which will begin rolling out this summer.

"IMAX's early scheduled deployment of its state-of-the-art digital projection system has made possible the release of Madagascar: Escape 2 Africa into The IMAX Experience," said Jeffrey Katzenberg, CEO of DreamWorks Animation. "DreamWorks Animation remains committed to delivering a premium entertainment experience to our audience and further extending our relationship with IMAX helps us to achieve that goal."

"We are delighted that DreamWorks Animation will capitalize on the advantages of IMAX Digital, and we are pleased to add Madagascar: Escape 2 Africa to our 2008 lineup," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "The virtual elimination of film prints enables studios to release titles in a shorter window. This allows IMAX theatres to program more content, which we believe will translate into increased revenue for exhibitors and ultimately lead to accelerated growth of the IMAX network worldwide."

"Madagascar was a huge hit with moviegoers, and we are very confident that this highly anticipated sequel will look and sound amazing in IMAX," added Greg Foster, Chairman and President of IMAX Filmed Entertainment. "IMAX Digital has virtually eliminated a significant barrier to entry into the IMAX business for studios, and it is already driving additional content into our network. We're thrilled to enter into this new age of exhibition with a visionary studio like DreamWorks Animation."

Madagascar: Escape 2 Africa joins four other DreamWorks Animation movies previously announced and slated for release in the IMAX format, including Kung Fu Panda, which will be released on June 6, 2008, as well as the studio's first three 3D titles, Monsters vs. Aliens (March 2009), How to Train Your Dragon (November 2009), and Shrek Goes Fourth (May 2010).

In Madagascar: Escape 2 Africa, all of the loveable characters are back - Alex the lion, Marty the zebra, Melman the giraffe and Gloria the hippo, King Julien, Maurice and the penguins. Left marooned on the distant shores of Madagascar, the New Yorkers have hatched a plan so crazy it just might work. With military precision, the penguins have repaired an old crashed plane - sort of. Once aloft, this unlikely crew stays airborne just enough to make it to the wildest place of all-the vast plains of Africa itself. Ben Stiller, Chris Rock, David Schwimmer, Jada Pinkett Smith, Sacha Baron Cohen, Cedric The Entertainer and Andy Richter all return to their original roles. The film is produced by Mireille Soria and Mark Swift and co-directed by Eric Darnell and Tom McGrath.

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(R) 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. IMAX's renowned projectors and new digital systems display crystal-clear images on the world's biggest screens. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of March 31, 2008, there were 298 IMAX theatres operating in 40 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) 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'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 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 the Company's Annual Report on Form 10-K/A for the year ended December 31, 2007, as well as the Company's Quarterly Reports on Form 10-Q/A and 10-Q.

About DreamWorks Animation SKG

DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fifteen animated feature films, including Shrek, Shrek 2, Shark Tale, Madagascar, Over the Hedge, Shrek the Third and Bee Movie. DreamWorks Animation's 2008 feature film releases include Kung Fu Panda, in theaters on June 6 and Madagascar: Escape 2 Africa, in theaters on November 7. Monsters vs. Aliens, the Company's first film produced in 3D, is slated for a domestic release date of March 27, 2009.

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; DreamWorks Animation, Jeff Hare, (818) 695-6055,
jeff.hare@dreamworks.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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