IMAX Names Phil Groves Vice President, Film Distribution & Development

Written by: IMAX® Corporation
Date: October 13, 2003

SANTA MONICA, CA, October 13, 2003 – In a move that reinforces IMAX Corporation's continued commitment to transforming and distributing Hollywood blockbusters to IMAX® theatres using proprietary IMAX® DMR™ technology, the Company today announced the appointment of Phil Groves to the newly-created position of Vice President, Distribution & Development. Groves will be responsible for the creation and implementation of strategies that make it easier for studios to distribute both IMAX DMR and original films to the worldwide network of IMAX theatres. He will also play a role in the development of original IMAX film product.

One of the most highly regarded film buyers in the domestic theatrical industry, Groves began his career in this role with General Cinema in 1981. In 1987, he joined Cineplex Odeon where he served in various management posts including Vice President of Film, managing the programming of the Sony IMAX Theatre in New York, Universal Citywalk IMAX Theatre in Los Angeles and Sony IMAX Theatre at the Metreon in San Francisco. Groves continued in this position throughout the company's transition to Loews Cineplex Entertainment, until joining IMAX.

Groves will be based at IMAX's Santa Monica office and will report to Larry O'Reilly, IMAX's Senior Vice President, Theatre Development and Film Distribution and Greg Foster, IMAX's President, Filmed Entertainment. Groves will be IMAX's primary interface with distribution executives at Hollywood studios on all matters related to the release of films to the worldwide IMAX theatre network.

"As IMAX DMR is proving to be a powerful option for extending the life of Hollywood event films and sustaining box office performance, wider accessibility of this content is a priority for IMAX," said Mr. O'Reilly. "Phil has been a passionate supporter of IMAX DMR, and his proven track record makes him a great asset for advancing the Company's commercial initiatives."

"We expect Phil's excellent relationships with the Hollywood studios and the exhibition industry to be a driving force in continuing the expansion and distribution of both IMAX DMR and original IMAX films," said Mr. Foster. "Phil shares our vision of the IMAX theatre network becoming a lucrative new release window for Hollywood as the incremental box office that IMAX films can generate solidifies IMAX as a meaningful distribution platform."

"I'm thrilled to be joining IMAX, which is renowned for providing the ultimate movie-going experience," said Groves about his new post. "I see terrific growth opportunities for the company as Hollywood increasingly recognizes the unique experience IMAX brings to the world of studio ‘tent pole' films, and as the IMAX theatre becomes the place to see these event films."

About IMAX Corporation

Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the creation and delivery of the world's best cinematic presentations using proprietary IMAX and IMAX ® 3D technology, and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX DMR (Digital Re-mastering) that makes it possible for virtually any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience®. The IMAX brand is recognized throughout the world for extraordinary and immersive family entertainment experiences. As of June 2003, there were more than 235 IMAX theatres operating in 34 countries.

IMAX®, IMAX ® 3D, The IMAX Experience® and IMAX® DMR™ are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.

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For additional information please contact:

Media: IMAX Corporation, New York Jennifer Gery 212-821-0100 jgery@imax.com

Business Media: Sloane & Company, New York Whit Clay 212-446-1864 wclay@sloanepr.com

Entertainment Media: Newman & Company, Los Angeles Al Newman 818-784-2130 asn@newman-co.com

Analysts: IMAX Corporation, New York Stephen G. Abraham 212-821-0140 sabraham@imax.com