IMAX Signs Theatre Deal with ODEON Cinemas

IMAX Signs Theatre Deal with ODEON Cinemas

Europe's Largest Exhibitor Expands its IMAX Network in the United Kingdom Following Success of New IMAX Digital Locations

TORONTO, June 22 /PRNewswire-FirstCall/ -- IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and ODEON & UCI Cinemas Group, Europe's largest exhibitor, today announced an agreement to install an IMAX(R) theatre in its new ODEON Gateshead complex in Northeast England. The deal follows the strong performance of ODEON's new IMAX digital locations in Wimbledon and Greenwich. Scheduled to open in December 2009, the new Gateshead location will feature IMAX's digital projection system.

To date, IMAX has signed contracts for over 200 IMAX digital projection systems worldwide, with 100 currently in operation.

"In addition to our celluloid IMAX system in Manchester, the strong performances of our new IMAX digital locations in Wimbledon and Greenwich were the key drivers for our decision to add another IMAX location to our network in the United Kingdom," said Rupert Gavin, CEO of ODEON & UCI Cinemas Group. "Our three IMAX theatres continue to generate incremental revenue while offering our customers a unique cinema experience. We believe that with IMAX's rapidly growing Hollywood film slate, there is potential opportunity to expand this premium offering to other key locations."

"ODEON & UCI Cinemas Group's increasing interest in the IMAX business is very encouraging as we continue to focus on network expansion in Europe," said IMAX CEO Richard L. Gelfond. "Our association with Europe's largest exhibitor and one of the world's most recognized exhibition brands gives our own brand exceptional visibility, especially in new markets. We're delighted to expand our partnership with the ODEON & UCI Cinemas Group and we look forward to the opening of this new location in December."

"We're very pleased with ODEON and UCI Cinemas Group's success with our digital projection system and with how the IMAX revenues have helped drive the total location's business." added Larry O'Reilly, Executive Vice President of Theatre Development. "The Group's continued endorsement of our digital projection system reinforces the power of The IMAX Experience(R) in a multiplex setting."

IMAX's digital projection system delivers The IMAX Experience and helps drive profitability by increasing attendance and program flexibility while increasing the number of films available to customers to enjoy The IMAX Experience.

Upcoming IMAX films include:

2009
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Transformers: Revenge of the Fallen - DreamWorks Pictures / Paramount
Pictures
Harry Potter and the Half-blood Prince - Warner Bros. Pictures
Disney's A Christmas Carol: An IMAX 3D Experience - Walt Disney Pictures
Avatar: An IMAX 3D Experience - Twentieth Century Fox

2010
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Alice in Wonderland : An IMAX 3D Experience - Walt Disney Pictures
Hubble 3D (working title) - IMAX / Warner Bros. Pictures
How to Train Your Dragon: An IMAX 3D Experience - DreamWorks Animation
Shrek Forever After: An IMAX 3D Experience - DreamWorks Animation

About ODEON & UCI Cinemas Group

With over 75 years experience, ODEON & UCI Cinemas Group is the largest exhibitor in Europe. The group is the leading exhibitor in the UK, Spain and Italy, second largest in Ireland and third largest in Germany, Austria and Portugal. It operates 1802 screens at 202 sites across Europe.

About IMAX Corporation
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IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. 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 movie presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R), technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture 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 for consumers. As of March 31, 2009, there were 371 IMAX theatres (250 commercial, 121 institutional) operating in 43 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR, The IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imaxnews) and YouTube (www.youtube.com/imaxmovies).

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, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and ongoing inquiries by the SEC and the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

Source: IMAX Corporation

CONTACT: Media: IMAX Corporation, New York, Sarah Gormley, (212)
821-0155, sgormley@imax.com; Entertainment Media: Rogers & Cowan, Los Angeles,
Jason Magner, (310) 854-8128, jmagner@rogersandcowan.com; Investors: Heather
Anthony, (212) 821-0121, (203) 682-8243, hanthony@imax.com; Business Media:
Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com;
ODEON: ODEON Media Centre, +44 0845 070 2852, odeonteam@redconsultancy.com

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