IMAX Signs Theatre Deal in the Ukraine

    Country's Largest Entertainment Developer Expands IMAX Roll-out on the
    Heels of Successful Opening in Kyiv

    TORONTO, Oct. 23 /CNW/ - IMAX Corporation (NASDAQ:   IMAX; TSX: IMX) and
Group of Companies "TRIUMPH," a leading media, entertainment and film
production company in the Ukraine, today announced an agreement to add to the
company's roll-out of IMAX(R) theatres in the country. Kinokompaniya Triumf,
which already had a deal to install two IMAX theatres in the Ukraine, has
signed on for a third theatre to be installed in Kharkov in 2011, with an
option for a fourth theatre to be installed in the capital city of Kyiv.
    Group of Companies "TRIUMPH" installed its first IMAX theatre in Kyiv
last month, and its second system, which was upgraded to a digital projection
system pursuant to the parties' new agreement, is scheduled to be installed in
the city of Odessa in 2010. Today's deal is part of an overall increase in
European exhibitor interest in the IMAX business, fueled by the introduction
of IMAX's new digital projection system. There are now 13 IMAX theatres
scheduled to be operating in Russia and the Commonwealth of Independent States
(CIS) by 2011. To date, IMAX has signed contracts for more than 190 IMAX
digital projection systems, with 20 currently in operation and a total of
45-50 scheduled to be in operation by year end.
    "Our new IMAX theatre in Kyiv has already delivered impressive results
with extremely happy customers as well as strong ticket and concession sales,
and now we're very excited to expand with more IMAX locations," said Andriy
Shpyg, General Director of Group of Companies "TRIUMPH." "After just 20 days
of operation, we sold 17,000 IMAX tickets at a premium price, which
demonstrates that The IMAX Experience(R) drives incremental attendance and
revenue. The elimination of film prints and the reduced start up capital
required for IMAX's digital projection system makes the IMAX business even
more attractive as we work towards expanding our IMAX and multiplex network in
the Ukraine."
    "The IMAX brand continues to get stronger in new markets internationally,
thanks to partners like Group of Companies "TRIUMPH," who are dedicated to the
marketing and delivery of premium entertainment experiences," said IMAX
Co-Chairmen and Co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We're
very pleased with the impact that our digital projection system has made on
exhibitor interest in Europe, and we look forward to continued growth in the
    "The first IMAX theatre that Group of Companies "TRIUMPH" opened has
changed the way people in the Ukraine experience movies and we're delighted
that their early success has inspired them to add more locations," added Larry
O'Reilly, IMAX's Executive Vice president, Theatre Development. "Europe is an
important growth market for us and through the economical advantages of our
digital projection system, we're starting to see more exhibitors get into the
IMAX business."
    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:

    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 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
    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 Group of Companies "TRIUMPH"

    Set up to address the growing demand for original Russian and Ukrainian
film content in the former Soviet Union, Group of Companies "TRIUMPH" has
rapidly grown to become one of the leading movie, television, and advertising
production companies in the Ukraine. It has released major films in the
Russian and Ukrainian markets and is currently developing high quality
multiplexes across Ukraine. It has related companies developing shopping malls
and entertainment complexes in prime locations in Kyiv.

    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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