IMAX Signs First Joint Venture Theatre Deal in Europe

      Cineplexx Kinobetriebe and IMAX Enter Joint Venture Agreement for
                          Three Theatres in Austria

      IMAX's Digital Projection System Continues to Drive Joint Venture

    TORONTO, Oct. 7 /CNW/ - IMAX Corporation (NASDAQ:  IMAX; TSX:IMX) and
Cineplexx Kinobetriebe Gmbh, the largest exhibitor in Austria, today announced
a joint venture agreement to install three IMAX(R) theatres in Austria. The
deal marks IMAX's first joint venture in Europe, and continues the Company's
global expansion with its new digital projection system. To date, IMAX has
signed contracts for more than 180 IMAX digital projection systems, with 18
currently in operation and a total of 45-50 scheduled to be in operation by
year end.
    The first theatre is expected to be installed in the city of Graz during
the first quarter of 2009, followed by a location in Vienna the second quarter
of 2009 and a third location in the city of Hohenems during the fourth quarter
of 2009. All three theatres will be equipped with IMAX's new digital
projection system.
    "Installing IMAX theatres in our multiplexes is an enormous benefit for
our business and our customers as it enables us to offer a premium immersive
movie experience that consumers will be delighted to have in Austria," said
Christian Langhammer and Christof Papousek, managing directors of Cineplexx
Kinobetriebe. "IMAX's new digital projection system, which can be retrofitted
into our existing auditoriums, combined with IMAX's joint venture business
model, offers us an economical and highly efficient way to enter the IMAX
    "This joint venture agreement is an important first step for our digital
growth strategy in Europe," said IMAX's Co-Chairmen and Co-CEOs, Richard L.
Gelfond and Bradley J. Wechsler. "We believe a partnership with Austria's
leading exhibitor will help to strengthen our brand in the region and expand
our audience base during a time when our film slate and interest from
Hollywood studios is at an unprecedented level."
    "There is significant potential for us in this virtually untapped market,
where we can align ourselves with the country's top exhibitor to offer a whole
new way to experience movies," added Larry O'Reilly, Executive Vice President
of Theatre Development. "With Cineplexx Kinobetriebe's well-known marketing
expertise, combined with Hollywood's biggest event movies and the IMAX brand,
we believe this joint venture partnership is a natural fit for IMAX."
    IMAX's digital projection system delivers The IMAX Experience(R) 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

    Madagascar 2: Escape 2 Africa - DreamWorks Animation
    The Day the Earth Stood Still - Twentieth Century Fox

    Under the Sea 3D - IMAX / Warner Bros. Pictures
    Watchmen - Warner Bros. Pictures / Paramount Pictures / Legendary
    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

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

    About Cineplexx Kinobetriebe

    Cineplexx Kinobetriebe GmbH was founded in 1993 and is a wholly owned
subsidiary of Constantin Film Holding GmbH, located in Vienna/Austria.
Cineplexx emerged in a period when many traditional cinemas disappeared in
Austria and multiplex cinemas captured the market. Constantin Film realized
this trend and built up a group with 20 cinemas and 160 screens. An affiliated
company runs ten traditional theaters. Constantin Film Holding GmbH made a
revenue of almost 80 Million Euro in 2007 and employs some 800 people. More

    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 June 30, 2008, there
were 302 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 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,; Entertainment Media: Rogers &
Cowan, Los Angeles, Jason Magner, (310) 854-8128,;
Investors: IMAX Corporation - New York, Heather Anthony, (212) 821-0121,; Business Media: Sloane & Company, New York, Whit Clay,
(212) 446-1864,

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