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IMAX Signs Two Theatre Deals in China

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Written by: IMAX Corporation
Date: February 9, 2005

  

Category: Press Releases

The People's Republic of China Continues to be One of IMAX's Fastest Growing Markets

TORONTO, Feb 09, 2005 /PRNewswire-FirstCall via COMTEX/ -- IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today announced agreements to install two IMAX® theatre systems at institutional locations in the People's Republic of China. The installations will be at the CAAC Museum in Beijing and the Guangdong Science Center, developed by The People's Government of Guangdong City. The deals reflect IMAX's continued success in executing its international growth strategy, as well as the universal appeal of The IMAX Experience®.

"Science centers and museums were among the first to embrace the power of The IMAX Experience, and after more than 30 years, we still see considerable growth opportunities for IMAX in the institutional marketplace," said co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechlser. "Our track record of success in educational venues has driven expansion of the IMAX theatre network around the world, and we're pleased to add the CAAC Museum and Guangdong Science Center to our list of prestigious institutional clients. We also continue to be encouraged by the interest we're seeing from both commercial and institutional operators in China - one of the fastest growing markets in IMAX's history."

"We believe an IMAX theatre will provide a compelling reason for people to visit our science center, helping to make it a financial success, while also offering the citizens of Guangdong an educational and entertaining experience unlike any they've had before," said Zhang Ming, Chairman of Guangdong Science Center. "The IMAX Experience has been enthusiastically received in China and we look forward to pioneering it in Guangdong."

The Guangdong Science Center and CAAC Museum IMAX theatres will both be capable of showing IMAX and IMAX® 3D films, and feature state-of-the-art, multi-channel digital surround sound systems. The agreement for the Guangdong installation was executed during the 3rd quarter of 2004; the new Beijing agreement was signed in December 2004 and is subject to standard formal governmental approval. Both locations are scheduled to open in 2007.

About The CAAC Museum

The aviation industry is rapidly developing in China, and the country now ranks fifth in the world in the output of commercial aircraft. China also holds great potential to further advance the development of civic aviation. The China Aviation Administration of China is building the CAAC Museum to offer the people of China a new and interesting way to learn about aviation.

About The Guangdong Science Center

The Guangdong Science Center is a nonprofit and social service project being developed by Guangdong province. The provincial government has invested 1.9 billion RMB in the large-scale project, which will serve as a showcase for scientific and technological achievements, provide an interesting way to learn about science, and encourage international academic exchange. The facility will feature rotating and permanent exhibition halls, an IMAX theatre, an International Academic Exchange Center, an Outdoor Exhibition Area and other facilities. It is scheduled to open by late 2007.

About IMAX Corporation

Founded in 1967, IMAX Corporation is the newest distribution platform for Hollywood content and 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 September 30, 2004, there were more than 235 IMAX theatres operating in 35 countries.

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

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