IMAX Signs First Digital Theatre Deal in Russia



    
    National Amusements' Rising Star Media Expands IMAX Network in Russia

    IMAX's Digital Projection System Continues to Drive Expansion in European
    Markets
    

    TORONTO, Jan. 14 /CNW/ - IMAX Corporation (NASDAQ:   IMAX; TSX: IMX) and
Rising Star Media, a joint venture between National Amusements, Inc. and
Soquel Ventures, today announced an agreement to install an IMAX(R) theatre at
Rising Star's KinoStar City multiplex at Mega Belyadacha regional mall in
Moscow, Russia. Scheduled to be installed in Moscow shortly, the new theatre
will utilize IMAX's new digital projection system. The deal is one of a number
of recent significant international deals signed by IMAX, indicating
enthusiasm by European exhibitors in the IMAX theatre business following the
North American rollout of IMAX's digital projection system. National
Amusements currently operates seven IMAX theatres in the United States, one in
Argentina and one in St. Petersburg, Russia.
    "The IMAX theatre business has proven to be very effective for both
Rising Star Media and National Amusements, and we are very excited to expand
with more locations in Russia," said Shari E. Redstone, who leads Rising Star
Media and is president of National Amusements, Inc. "IMAX's digital projection
system allows greater program flexibility, which enables us to offer our
customers even more movies in a truly unique and immersive way. Hollywood
directors are discovering the excitement that the IMAX technology adds to a
film, and as a result we are looking forward to being able to present more
unique film experiences to our patrons."
    "Russian moviegoers love The IMAX Experience(R)," said Paul B. Heth, who
directs Rising Star Media. "Our partnership with IMAX has cemented Rising Star
Media's position as a high-tech leader in the Russian exhibition business. We
look forward to expanding our IMAX theatre network into Moscow, and through
the economical and logistical advantages of IMAX's new digital projection
system, we are able to open quickly to take advantage of the amazing IMAX film
slate in 2009."
    "Our digital projection system has boosted interest from Hollywood
studios and exhibitors worldwide, and we're particularly encouraged by the
interest we're starting to see in Europe," said IMAX Co-CEOs and Co-Chairmen
Richard L. Gelfond and Bradley J. Wechsler. "Russia continues to play a key
role in our European expansion strategy, and we're pleased to see top
exhibitors who are already in the IMAX business open additional IMAX
theatres."
    "National Amusements and Rising Star Media have both been fantastic
partners and we're delighted to expand our relationship with them as we
continue to grow the IMAX network in Russia," added Larry O'Reilly, IMAX's
Executive Vice President of Theatre Development. "Rising Star Media operates a
successful IMAX theatre in St. Petersburg, and we're confident that their
location in Moscow will be well received by moviegoers as well."
    IMAX's digital projection 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 IMAX(R)3D presentations.

    
    Upcoming IMAX films include:

    2009
    The Dark Knight - (re-release) Warner Bros. Pictures
    Under the Sea 3D - IMAX/Warner Bros. Pictures
    Watchmen - Warner Bros. Pictures/Paramount Pictures/Legendary Pictures
    Star Trek - Paramount Pictures
    Monsters vs. Aliens 3D - DreamWorks Animation
    Night at the Museum: Battle of the Smithsonian - Twentieth Century Fox
    Transformers: Revenge of the Fallen - DreamWorks Pictures/Paramount
    Pictures
    Harry Potter and the Half-blood Prince - Warner Bros. Pictures
    Avatar - Twentieth Century Fox
    A Christmas Carol - Walt Disney Pictures

    2010
    Hubble 3D (working title) - IMAX/Warner Bros. Pictures
    How to Train Your Dragon 3D - DreamWorks Animation
    Shrek Goes Fourth 3D - DreamWorks Animation
    

    About Rising Star Media

    Rising Star Media is a joint venture between National Amusements, Inc., a
U.S.-based exhibition leader and parent company of media giants Viacom and
CBS, and Soquel Ventures, led by Paul B. Heth, best known for his
groundbreaking work in the revitalization of the Russian cinema sector. Rising
Star cinemas located in Moscow are among Russia's top grossing theaters.
Rising Star Media was established with the goal of creating a world-class
cinema circuit in the rapidly expanding Russian market. National Amusements,
Inc. and Soquel Ventures have successfully collaborated on other projects in
the United States, such as The Bridge: Cinema de Lux, a widely acclaimed new
style of theatre with locations in Los Angeles and Philadelphia, PA., and
together are shareholders in Monumental Pictures, a venture with Sony Pictures
Entertainment to produce and market local language films in the Russian
market. www.kinoStardelux.ru.

    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 Norwood, Massachusetts, National
Amusements 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. www.nationalamusements.com.

    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 movie presentations using
proprietary IMAX, IMAX 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. IMAX's renowned
projectors display crystal-clear images on the world's biggest screens, and
the IMAX brand is recognized throughout the world for extraordinary and
immersive entertainment experiences for consumers. As of September 30, 2008,
there were 320 IMAX theatres operating in 42 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
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.




For further information:

For further information: 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: IMAX Corporation - New York, Heather Anthony, (212) 821-0121,
hanthony@imax.com; Business Media: Sloane & Company, New York, Whit Clay,
(212) 446-1864, wclay@sloanepr.com

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