IMAX signs theatre deal in China

    Country's Largest Film Entity works with IMAX

    BEIJING, April 23 /CNW/ - IMAX Corporation (NASDAQ:   IMAX; TSX: IMX) and
China Film Group Corporation today announced an agreement to open an IMAX(R)
theatre in a new multiplex development in the city of Tianjin, China. The
installation is scheduled to be completed in October, 2009. The deal continues
IMAX's commitment to growing its network in China, IMAX's largest
international growth market, with 41 IMAX theatres scheduled to be operating
in the country by 2012. IMAX has signed contracts for more than 200 IMAX
digital projection systems worldwide, with 76 currently in operation and
approximately 60 additional locations scheduled to be in operation by year
    "IMAX is a well-respected brand that represents the advanced movie
experience and we strongly believe that working with IMAX will give us a
competitive advantage in our marketing development. We will have better
prospective cooperation with IMAX," said Mr. Han Sanping, Chairman of China
Film Group Corporations.
    "Entering into a partnership with China Film Group, the leading player in
film production, distribution and exhibition, is an important element of our
growth strategy and underscores our commitment to building the IMAX brand in
the country," said IMAX CEO Richard L. Gelfond. "Our digital projection system
continues to open up new international growth opportunities, by making it more
economical to display a range of films in our theatres. We're delighted to
have this endorsement from the largest and most prominent media company in
China which has substantial expansion plans for its exhibition business."
    IMAX's revolutionary 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.

    About China Film Group

    Inaugurated in 1951 as China Film Corporation, China Film Group
Corporation (CFGC) was conglomerated of 8 companies of Beijing Film Studio,
CCTV-6 and etc., in 1999. As the most comprehensive and extensive state-owned
film enterprise in China, CFCG facilitates film production, film base,
distribution and exhibition, film instrument and etc. as a coordinated process
and integrates film, TV and video into one single entity.
    Since its establishment in 1999, CFGC has produced more than 200 feature
    Every year CFGC is able to distribute 100-plus films. CFGC distributed
the blockbusters such as The Redcliff, Forever and Enthralled, The Warlords,
The Promise, The Curse of Golden Flowers, The Fearless and The Banquet.
    In recent years, CFGC has formed 7 cinema circuits with equity investment
and contracted more than 400 theatres, which accounts for 40% market share of
Chinese box-office. It is now building its own proprietary cinema circuit with
an objective of 100 multiplexes.
    CFGC is also the sole importer of foreign theatrical movies in China and
major exporter of Chinese films. CFGC has established business relationships
with more than 400 film institutions from more than 100 countries and regions.
Its annual event Beijing Screenings has become an important window to showcase
China's film culture to the world and exchange platform for film
    More information about the Company can be found at

    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(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 December 31, 2008,
there were 351 IMAX theatres (231 commercial, 120 institutional) operating in
42 countries.
    IMAX(R), IMAX(R) 3D, IMAX DMR(R), and The IMAX Experience(R) are
trademarks of IMAX Corporation. More information on the Company can be found

    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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