Third Installment of Harry Potter Film Series to Be Released As IMAX(R) Film In Summer 2004 Highly Anticipated Film to be Digitally Re-mastered Using IMAX(R) DMR(TM)

Technology



Warner Bros. Pictures and IMAX Corporation Sign Deal Following Successful IMAX

Release of Last Two Chapters of The Matrix Trilogy



    LOS ANGELES, Dec. 18 /PRNewswire-FirstCall/ -- IMAX Corporation (Nasdaq:  
 IMAX; TSX: IMX) and Warner Bros. Pictures today announced that Harry Potter
 and the Prisoner of Azkaban, the third installment of the Harry Potter film
 series, will be released to IMAX(R) theatres in addition to conventional
 theatres in June 2004.  This family event film, based on the third book of the
 world renowned and best-selling series, will be digitally re-mastered into the
 unparalleled image and sound quality of The IMAX Experience(R) through
 proprietary IMAX(R) DMR(TM) (Digital Re-mastering) technology.
     This deal represents the second IMAX DMR film commitment from Warner Bros.
 Pictures in the last year, and comes on the heels of the successful
 performances of the second and third chapters of The Matrix trilogy in IMAX
 theatres.  Based on the best-selling series of books by J.K. Rowling, the
 first two movies in the Harry Potter series broke worldwide records with a
 combined box-office gross of nearly $1.9 billion.  Warner Bros. Pictures is to
 be the exclusive distributor of Harry Potter to IMAX theatres worldwide.
     "Our partnership with IMAX has been extremely rewarding and has allowed
 our films to expand their reach beyond our traditional audiences by offering
 viewers a whole new way to see Hollywood event films that is uniquely
 immersive and exciting," said Dan Fellman, President, Domestic Distribution,
 Warner Bros. Pictures.  "We are so pleased that this summer, Harry Potter and
 the Prisoner of Azkaban, which lends itself beautifully to IMAX's format, will
 play throughout the IMAX theatre network.  Besides Harry Potter and The
 Prisoner of Azkaban, we are discussing an IMAX(R) 3D release of Polar Express
 in November 2004, and an IMAX DMR release of Charlie and the Chocolate Factory
 in the summer of 2005."
     "We are thrilled to be expanding our mutually beneficial partnership with
 Warner Bros. Pictures that began with the successful release of the last two
 chapters in The Matrix trilogy," said Richard L. Gelfond and Bradley J.
 Wechsler, Co-Chairmen and Co-CEOs, IMAX Corporation.  "This announcement is
 yet another indication that we are achieving our goal of bringing the very
 best Hollywood event films to IMAX theatres, which we believe is key to
 expanding the IMAX network around the world.  Our research has shown us that
 moviegoers want to see blockbuster films in IMAX's format and are paying a
 premium price for the experience.  We believe that the magic of Harry Potter
 The Prisoner of Azkaban will translate into an amazing cinematic adventure in
 IMAX theatres, and will continue the strong performances of IMAX DMR releases
 to date."
     "We are very excited to bring the adventure and fantasy of Harry Potter to
 life on the giant IMAX screen," said David Heyman, producer of the Harry
 Potter film series.  "When Alfonso Cuaron, the film's director, and I, saw
 IMAX DMR, we knew we had to release this film in IMAX theatres, as it will
 bring a whole new perspective to this magical story.  Whether they've read all
 of the Harry Potter novels and seen the first two films, or are just now
 immersing themselves in the world of Harry Potter, fans will amplify their
 experience with IMAX's exceptional and immersive cinematic presentation."
     Warner Bros. Pictures and IMAX will also be distributing the first-ever 3D
 motorsports film, NASCAR 3D: The IMAX Experience starting March 12, 2004.
 Narrated by Kiefer Sutherland and starring the drivers of NASCAR, NASCAR 3D:
 The IMAX Experience will put moviegoers in the driver's seat in an
 unprecedented way through the magic of IMAX 3D technology.
 
     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
 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 experiences.  As of September 30 2003,
 there were more than 235 IMAX theatres operating in 36 countries.
     IMAX(R), IMAX(R) 3D, IMAX(R)DMR(TM) and The IMAX Experience(R) are
 trademarks of IMAX Corporation. More information on the Company can be found
 at www.imax.com.
 
     This press release contains forward-looking statements that are based on
 management 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 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, the performance of films, the viability of new businesses and
 products, and fluctuations in foreign currency and in the large format and
 general commercial exhibition market. These factors and other risks and
 uncertainties are discussed in the Company's Annual Report on Form 10-K/A for
 the year ended December 31, 2002 and in the subsequent reports filed by the
 Company with the Securities and Exchange Commission.
 
      For additional information please contact:
      Media:                                     Analysts:
      IMAX Corporation, New York                 IMAX Corporation, New York
      Romi Schutzer                              Jennifer Gery
      212-821-0144                               212-821-0144
      rschutzer@imax.com                         jgery@imax.com
 
      Warner Bros. Pictures, Los Angeles         Business Media:
      Stacy Ivers                                Sloane & Company, New York
      818-954-6228                               Whit Clay
      stacy.ivers@warnerbros.com                 212-446-1864
                                                 wclay@sloanepr.com
      Entertainment Media:
      Newman & Company, Los Angeles
      Al Newman
      818-784-2130
      asn@newman-co.com
 
 

SOURCE IMAX Corporation

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