IMAX Signs Theatre Deal With Stellar Cinemas in China

Chinese Exhibitor Enters IMAX Business With Two Locations; First Location to Open in Time for Chinese IMAX DMR(R) Release "Aftershock" in July

IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Stellar Investment Co., Ltd., a leading Chinese entertainment and media company that operates theatres under the name Stellar Cinemas, today announced an agreement to install two digital IMAX(R) theatre systems into multiplexes in Shanghai and Beijing. The first location is scheduled to be installed in the Shanghai Stellar Zhengda Multiplex in Shanghai in time for the highly-anticipated release of Aftershock, the first Chinese film to be digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R). The other location is scheduled to be installed in Beijing as part of a new complex which is expected to be completed in 2011. The People's Republic of China is IMAX Corporation's fastest-growing market, with 26 locations currently open and more than 50 scheduled to be operating by 2012.

"The IMAX Experience is generating incredible consumer response in China, and we believe entering this partnership creates an opportunity for us to extend the IMAX premium moviegoing experience to more consumers and increase the visibility of our brand," said Bruce Ren, President of Stellar Cinemas. "We're particularly pleased with the speed at which a digital IMAX theatre system can be installed, as it will enable us to capitalize on the upcoming IMAX release of Aftershock in July, in addition to the large slate of digitally re-mastered Hollywood films."

"Today's announcement provides another proof point that an IMAX theatre is a significant addition to key multiplexes in this rapidly growing market," said IMAX CEO Richard L. Gelfond. "The rollout of our digital projection system has enabled us to begin expanding IMAX programming to include mainstream Chinese films, and that is generating more interest from Chinese exhibitors which is resulting in new locations. We are very pleased to be associated with a leading Chinese entertainment company like Stellar as we continue to expand our audience and grow our network in the region."

IMAX's digital theatre system delivers The IMAX Experience and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX3D presentations.

About Stellar Cinemas

Stellar Investment Co., Ltd. is a leading Chinese entertainment and media company that is committed to breaking new ground in the Chinese film industry. Stellar operates a fully-integrated production chain that ranges from studio and soundstage facilities, to film distribution and exhibition. On the exhibition side of the business, Stellar operates a network of 15 cinemas in major cities such as Beijing, Shanghai, Guangzhou, Tianjin, Chongqing, Chengdu, Shenyang and Lanzhou. With its broad range of film businesses, Stellar is uniquely positioned in the burgeoning Chinese film and exhibition industry. Double digit growth per year and a galloping capital market offers a prime environment for Stellar to grow exponentially, bringing together historic opportunities, horizontal development and broad participation in the Company's ongoing push to bringing domestic and global audiences the very best in entertainment.

About IMAX Corporation

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 cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR 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, 2010, there were 438 IMAX theatres (316 commercial, 122 institutional) operating in 47 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), An 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).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

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 performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. 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.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

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