IMAX Corporation and Warner Bros. Pictures Announce Next IMAX(R) 3D Space Film

    IMAX(R) Camera Returns to Space to Chronicle Life of the Hubble
    Space Telescope

    Hubble's Stunning Images of Distant Galaxies Presented in IMAX(R) 3D

    TORONTO, Sept. 24 /CNW/ - IMAX Corporation (Nasdaq:   IMAX; TSE: IMX) and
Warner Bros Pictures today announced that, in cooperation with the National
Aeronautics and Space Administration (NASA), the IMAX(R) 3D camera will return
to space for production of the next IMAX 3D space film. Set for release in
early 2010, the film will chronicle the life story of the Hubble Space
telescope - deemed the most important scientific instrument since Galileo
invented the original telescope. IMAX's long-standing partnership with NASA
has enabled millions of people to travel into space through a series of
award-winning IMAX films that have cumulatively grossed more than $500 million
worldwide. The IMAX 3D camera made its first voyage into space in 2001 for the
production of SPACE STATION 3D, narrated by Tom Cruise, which has grossed
nearly $100 million worldwide. The Hubble IMAX 3D film will mark Warner Bros.
Pictures' first venture into space.
    "The astronauts have often said The IMAX Experience(R) is the next best
thing to being in space, and with IMAX 3D, the audience really IS there," said
Producer/Director Toni Myers. "A decade ago we made a film that briefly
touched on the subject of Hubble, but back then its first images were just
coming in. Today, we have Hubble's entire phenomenal legacy of data to
explore. With IMAX 3D, we can transport people to galaxies that are literally
13 billion light years away. Real star travel is here at last."
    "We are thrilled that people from around the world will experience this
vital servicing mission from a front row seat," said Shana Dale, NASA deputy
administrator, Headquarters, Washington. "Audiences will be mesmerized as they
are transported to the distant galaxies on the universe."
    "Our original IMAX 3D releases have already put audiences in the driver's
seat of a NASCAR racecar and taken them swimming with some of the most exotic
undersea creatures on earth, and now we look forward to transporting them to
the far reaches of the universe," said Dan Fellman, President, Domestic
Distribution, Warner Bros. Pictures. "Warner Bros. and IMAX have collaborated
on 20 films over the last four years, and we are excited to share our next
endeavor - the IMAX 3D space film - with our audience."
    "The IMAX space film series includes some of the all-time highest
grossing IMAX films, clearly underscoring the public's fascination with the
wonders of space flight and the filmmaking talents of Toni Myers, Graeme
Ferguson and the IMAX space production team," said IMAX's Co-Chairmen and
Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "We couldn't be happier
to embark on this journey and look forward to transporting people further than
they have ever gone before through the magic of IMAX 3D."
    "IMAX space films have always been a huge hit with audiences worldwide
because they epitomize the essence of The IMAX Experience, which is to
transport people to places they normally couldn't visit," added Greg Foster,
Chairman and President of IMAX Filmed Entertainment. "We are delighted to have
the opportunity to return to space with our long time partners at NASA, Warner
Bros. Pictures, the IMAX 3D camera and the IMAX space production team that
makes it all come together."
    The Hubble IMAX 3D film will be made by the same filmmaking team behind
SPACE STATION 3D. The film will chronicle the amazing saga of the greatest
success in space since the Moon Landing. Featuring stunning on-orbit coverage
of the telescope's final repair and jaw-dropping IMAX 3D flights through
distant galaxies, Hubble's astonishing legacy will be captured for generations
to come.

    About IMAX Corporation

    IMAX Corporation is one of the world's leading entertainment technology
companies, specializing in digital and film-based motion picture technologies.
The worldwide IMAX(R) theatre 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(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 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
June 30, 2007, there were 290 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

    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 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 the Company's Annual Report on Form 10-K for
the year ended December 31, 2006, as well as the Company's Quarterly Report on
Form 10-Q.

For further information:

For further information: Media: IMAX Corporation, New York, Sarah
Gormley, (212) 821-0155,; Warner Bros. Pictures, Los
Angeles, Andrea Marozas, (818) 954-4849,;
Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864,; Investors: Integrated Corporate Relations, Amanda Mullin,
(203) 682-8243,; Entertainment Media: Newman &
Company, Los Angeles, Al Newman, (310) 278-1560,

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