IMAX Signs Exclusive Thirty-Five Theatre Deal for South and Central America

    Largest International Deal and Second Largest Theatre Deal in IMAX's
    40-Year History

    Highly Regarded Development Partner to Expand IMAX Footprint Over Next
    Six Years

    TORONTO, March 10 /CNW/ - March 10, 2008 - IMAX Corporation (NASDAQ:  
IMAX; TSX: IMX) today announced an agreement with Giencourt Investments S.A.,
a member of the RACIMEC International Group (RACIMEC) to purchase and install
35 IMAX(R) Digital projection systems in Central and South America and the
Caribbean over the next six years. The agreement marks the largest
international theatre deal, and second largest overall theatre deal, in IMAX's
history, following on the heels of AMC's 100-theatre North America deal
announced in December.
    Under the terms of the agreement, RACIMEC will provide an initial down
payment and a firm commitment to install a minimum of 35 IMAX theatres with
fixed payment dates and opening dates. RACIMEC plans to contribute the IMAX
theatre systems to its partners - developers, exhibitors and other
entertainment operators - for negotiated economic terms and work with them to
identify the best locations based on market demographics and cultural trends,
ultimately building a substantial network of IMAX(R) theatres throughout the
    "This important partnership with RACIMEC will result in a robust network
of IMAX theatres in South and Central America," said IMAX Co-CEOs and
Co-Chairmen Richard L. Gelfond and Bradley J. Wechsler. "RACIMEC is a
well-respected business innovator, and we are thrilled to expand our
relationship with them at this level. As the industry moves toward digital and
developers as well as exhibitors seek new ways to attract moviegoers, we are
confident that RACIMEC's experience and expertise are an ideal match for
increasing IMAX's presence in this critical market."
    "Based on the growing network of successful IMAX theatres and the
introduction of IMAX's digital projection system, we believe this is a perfect
time to aggressively develop the South and Central American and Caribbean
markets, said Miguel Sfeir, President of RACIMEC International Group. "We want
to capitalize on the momentum IMAX has with its pending digital projection
system and its robust array of Hollywood content to bring the ultimate
movie-going experience to consumers in this part of the world."
    In 2005, RACIMEC signed a deal to install three IMAX theatre systems into
new entertainment retail developments in Chile and Venezuela. Two IMAX
theatres are being built and developed in Santiago, Chile, in addition to one
in Caracas, Venezuela, and all are expected to open by mid-2009.
    The highly anticipated IMAX Digital projection system will further
enhance The IMAX Experience(R) and help to drive profitability for studios,
exhibitors and IMAX theatres by virtually eliminating the need for film
prints, increasing program flexibility and ultimately increasing the number of
movies shown on IMAX screens.
    IMAX has already secured important parts of its film slate for 2008, 2009
and 2010 through agreements with major Hollywood studios including: The
Spiderwick Chronicles (in theatres now), Shine A Light (April 4, 2008), Speed
Racer (May 9, 2008), Kung Fu Panda (June 6, 2008), The Dark Knight (July 19,
2008), Under the Sea 3D (February 2009), Monsters vs. Aliens 3D (March 2009),
Hubble 3D (working title, February 2010), How to Train Your Dragon 3D (March
2010), and Shrek Goes Forth 3D (May 2010).

    About RACIMEC International Group
    Founded in Rio de Janeiro, Brazil, in August 1966, as one of the most
prominent entertainment and public gaming companies in the world, developing
gaming applications such as Lotto and Soccer Lottery, for various Latin
American countries including Brazil, Chile, Argentina, Venezuela, Colombia and
Paraguay. The RACIMEC International Group has reached outstanding success in
various countries with its starring game KINO, a pre-printed ticket game with
a real time live TV show, crossing over the 4 billion dollar barrier during
the last decade. RACIMEC has been identified by the Lottery market as the
creator of new standards in Game operation and safety in the different
countries where it operates.

    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 theatres delivering the world's best
cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR
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 September 30, 2007, there were 296 IMAX
theatres operating in 40 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

    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/A for
the year ended December 31, 2006, as well as the Company's Quarterly Reports
on Form 10-Q/A and Form 10-Q.

For further information:

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

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