TORONTO - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) today reported total revenues of $33.7 million for the first quarter ended March 31, 2009, a 43% increase compared to total revenues of $23.5 million for the first quarter of 2008. Operating income increased to $2.0 million, a $7.6 million increase compared to last year's operating loss of $5.6 million. The Company's first quarter net loss per diluted share of $0.06 compares favorably to the net loss per diluted share of $0.25 for the first quarter of fiscal 2008.

IMAX Chief Executive Officer Richard L. Gelfond stated, "We have often said that our introduction of digital and our joint revenue sharing initiative would yield improved financial results and we believe the first quarter reflects early progress towards this goal. Our highest level of sales-type lease system installs in over two years, the continued rapid growth of our joint revenue sharing theater network and our focus on cost containment were the primary drivers of our improved performance. We are particularly encouraged by our performance given that the first full-length new IMAX DMR(R) release did not occur until Warner Brothers' Watchmen opened in March, the last month of the quarter. Given the early success of our digital roll-out, our strong line-up of film product and our focus on cost containment, we continue to believe that we should achieve strong revenue growth and return to profitability in 2009."

IMAX systems revenue increased over 100% to $16.5 million versus $8.2 million in the prior year period. The Company installed and recognized revenue on nine theatre systems that qualified as either sales or sales-type leases in the first quarter of 2009 (including three digital upgrades), compared to four in 2008. Revenue from joint revenue sharing arrangements increased nearly six-fold to $1.9 million, compared to $0.3 million last year. The Company installed 22 new systems under joint revenue sharing arrangements (including five digital upgrades of theatres under joint revenue sharing arrangements) in the first quarter of 2009, compared to zero in the year ago period.

For the first quarter of 2009, film revenue increased 6% to $7.8 million, compared to $7.4 million in the first quarter of 2008. This included Production and IMAX DMR revenues of $3.7 million compared to $2.9 million a year ago.

Mr. Gelfond continued, "On the film side, Watchmen: The IMAX Experience delivered a domestic per screen average of approximately $92,000 and Monsters vs. Aliens: An IMAX 3D Experience has grossed an average of $126,000 per screen in IMAX theatres to date, outpacing both the 2D and other 3D versions of the film on a per screen basis. We are very encouraged that, in these challenging economic times, consumers are continuing to embrace The IMAX Experience(R)."

First quarter gross box office from DMR titles increased to $29.9 million in the first quarter of 2009, compared to $15.7 million in the first quarter of 2008. The titles that contributed the majority of the Company's first quarter box office results were the March 6th release of Warner Brother's Watchmen: The IMAX Experience, which generated approximately $14.6 million in IMAX theatres worldwide and DreamWorks Animation SKG's Monsters vs. Aliens: An IMAX 3D Experience, which was released to IMAX theaters on March 27th and generated $6.6 million in gross box office as of quarter end and $24.7 million through Sunday. Additional DMR titles within the quarter were Twentieth Century Fox's The Day the Earth Stood Still: The IMAX Experience, the re-release of Warner Bros. Pictures' The Dark Knight: The IMAX Experience, and the one week run of Disney's The Jonas Brothers: A 3D Concert Experience.

First quarter gross margin increased 39% to $14.1 million from $10.1 million last year. Negatively impacting gross margin was $0.7 million of non-recurring launch costs associated with the 17 new theatres opened under joint revenue sharing arrangements during the quarter. A description of how this impacted the gross margin of the Company's joint revenue sharing business segment is included with the segment table at the end of this press release.

Selling, general and administrative expenses decreased to $10.9 million in the first quarter, compared to $12.4 million a year ago. Lower professional fees and operating expenses were partially offset by a $1.2 million foreign currency exchange charge largely due to a decline in the Canadian dollar, which impacts foreign currency denominated receivables, unhedged forward currency contracts and other working capital balances. The exchange rate on the Canadian dollar has since improved from quarter-end. Research and development costs decreased to $0.5 million in the first quarter of 2009 as compared to $2.5 million in the first quarter of 2008. Last year's research and development expenses reflected the costs associated with the development of the Company's digital projection system that launched in July of 2008.

The Company ended the quarter with a total of 371 IMAX theaters in operation, a 24% increase over last year's first quarter. Its commercial theater count increased to 250 theaters, a 40% increase over last year. The Company's digital and joint revenue sharing strategies continued to drive its rapid growth. At the end of the quarter, 73 digital systems were in operation, up from 46 as of December 31, 2008. The number of IMAX(R) theatres under joint revenue sharing arrangements also grew, to 69 theaters in operation, up from 52 as of year-end and compared to 11 last year. The Company currently remains on track to have between 115 and 125 joint revenue sharing theaters in operation by year-end.

As of March 31, 2009, the Company's backlog consisted of 190 theatre systems compared to 245 theatre systems in backlog as of March 31, 2008. Included in the 2009 and 2008 system backlog totals were 89 and 135 theatres, respectively, under joint revenue sharing arrangements. During the quarter the Company signed contracts for three new systems under sales and sales-type lease arrangements, one of which was installed in the first quarter.

At the end of the first quarter, the Company's cash position was approximately $18.7 million, compared to $27.0 million at the end of 2008 and $18.1 million as of March 31, 2008. The Company's cash position is after investments related to its joint revenue sharing digital projection systems, which amounted to approximately $7.0 million in the first quarter. The Company commented that it remains confident that the combination of its cash position, available credit of $11.6 million under its credit facility, and operating cash flows will provide the necessary funding for its continued roll-out of joint revenue sharing digital projection systems.

Looking ahead to the remainder of the 2009 film slate, Star Trek: The IMAX Experience (Paramount Pictures), will be released to 167 IMAX theaters today at 7:00 PM for a two-week limited engagement, followed by Night at the Museum: Battle of the Smithsonian: The IMAX Experience (Twentieth Century Fox, May 22, 2009); Transformers: Revenge of the Fallen: The IMAX Experience (Paramount Pictures, June 2009); Harry Potter and the Half-Blood Prince: An IMAX 3D Experience (WB, July 2009); Disney's A Christmas Carol: An IMAX 3D Experience (Walt Disney Pictures and ImageMovers Digital, November 2009); and James Cameron's Avatar: An IMAX 3D Experience (Twentieth Century Fox, December 2009). The Company believes it will also have an additional DMR title in the fall.

Mr. Gelfond concluded, "We are encouraged by our first quarter results, our success in the second quarter with Monsters vs. Aliens and pre-sales for Star Trek. We believe our 2009 slate includes some of the most popular franchises and highly anticipated films of the year. The record number of films coming through the IMAX network this year, combined with the quality of those titles, is allowing our business to be less about the performance of a single film and more about the success of the overall portfolio, which is much more diversified than in past years. We look forward to announcing more titles in the coming months."

The Company's 2010 film slate currently includes Avatar: An IMAX 3D Experience, which should carry over from its December 18, 2009 release, Disney's Alice in Wonderland: An IMAX 3D Experience (March 2010), DreamWorks Animation's How to Train Your Dragon: An IMAX 3D Experience (March 2010), DreamWorks Animation's Shrek Goes Fourth: An IMAX 3D Experience (May 2010) and an IMAX original film, in partnership with Warner Brothers, currently titled Hubble 3D. The Company is currently in discussions with virtually every major studio about other films for potential release in 2010.

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CYPRESS, CA - Christie is delighted to announce that as the technical D-Cinema partner to the Cannes Film Festival for the third year running, there is a huge increase in movies being screened using the digital format. Out of the 53 features showing at the 62nd Cannes Film Festival, the Official Selection for the Cannes Film Festival 2009 has revealed that at least 50 will be screened digitally compared to 20 screened digitally in 2007 and 37 in 2008.

Jack Kline, President and COO for Christie Digital Systems USA, Inc. remarked: "We are pleased to see the progress of D-Cinema in the motion picture industry, as shown by the digital movies which are part of the Official Selection. And we're delighted by the continued trust displayed by XDC, the Festival's technical D-Cinema partner, and CST, the representative organization of cinema professionals in France responsible for the technical operation of Cannes. Both have opted for Christie as their technical partner supplying the digital projection solutions for the Festival for the third year running."

Christie will provide over 19 projectors for the world's leading film festival, including:

- For the Official Competition, seven Christie 2K DLP Cinema® projectors will be installed in the following auditoriums: Lumière, Debussy, Bazin, Buñuel, 60th Anniversary Theatre and the Beach Cinema.

- For the Film Market, three Christie 2K DLP Cinema projectors will be installed in Bory and Lerins2 auditoriums and auditorium J, while nine Christie high definition DLP® standard projectors will equip the other HD video rooms.

- Finally, one 2K digital control room will be installed in the Palais des Festivals in order to check the digital copies.

Kline continued: "As the most recognized film festival in the world, Cannes has a major cultural influence on the industry globally, reflecting the current technical, technological and commercial trends. It's a fact that the digital format and the number of theatres equipped for digital projection is progressing very rapidly."

XDC will implement its Cinestore Solo G3 server in all the auditoria and will be collaborating with XpanD, an expert in 3D presentations, which will be given top billing this year at the world preview of UP, Pixar/Disney's new animated comedy adventure, which will open this year's Festival.

UP will be premiered using a Christie CP2000-SB projector with built-in Christie Brilliant3DTM innovative technology, which enhances brightness while reducing operating costs via a single lens system, which is ideal for 3D projections. In addition to increased brightness compared to previous systems, this technology allows exhibitors to present 3D movies on their largest screens while reducing their lamp and power costs. The Christie CP2000-XB, CP2000-SB, CP2000-M and CP2000-ZX were amongst the first products equipped with the Brilliant3D technology.

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TORONTO, ON - Cineplex Entertainment is pleased to present The Metropolitan Opera's The Audition, a feature length documentary that provides a behind-the-scenes look at what it takes to make it in one of the most difficult professions in the performing arts. The Audition will be shown in High Definition (HD) and digital surround sound on Saturday, June 6th at 1 pm EST/12 pm CST/11 am MST/10 am PST and Monday, June 15th at 7 pm local time at select Cineplex Entertainment theatres across the country.

"We are excited to offer our guests The Audition, an addition to the acclaimed MET Opera: Live in HD series that guests have enjoyed at our theatres across the country for the past three years," said Pat Marshall, Vice President, Communications and Investor Relations, Cineplex Entertainment. "The Audition offers an exclusive backstage pass into the intense pressures the competitors face as they try to launch an opera career with the Met. Our regular Met opera guests will love the drama and excitement in this production."

Directed by award-winning filmmaker Susan Froemke, The Audition looks at the intense pressures young opera singers face as they struggle to succeed in one of the most difficult professions in the performing arts. The feature-length documentary takes you behind the scenes at the Metropolitan Opera's National Council Auditions, where each year thousands of hopefuls compete for a cash prize, the chance to sing on the Met stage and the opportunity to launch a major operatic career. The film covers the dramatic week leading up to the finals of the 2007 auditions, focusing on three very different tenor contestants: Michael Fabiano, a fiery 22-year-old grappling with his inner demons; Alek Shrader, a 25-year-old with movie star looks who attempts to sing nine high Cs in the fiendishly difficult aria that made Pavarotti a star and Ryan Smith, who at age 30, and with little formal training, is pursuing his dream of an operatic career. The Audition also includes a 20 minute panel discussion taped recently at The Met with Renée Fleming on the panel.

Advance tickets are now available online at www.cineplex.com/events as well as at participating theatre box offices. Admission for seniors and children ages 3 - 12 is $12.95 + tax and general admission is $14.95 + tax.

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Knoxville, Tennessee - Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced details of Regal's 2009 Free Family Film Festival. During this 9-week festival, more than 300 Regal Cinemas, United Artists and Edwards Theatres offer selected G and PG rated movies for free on Tuesday and Wednesday mornings at 10am.

Participating theatres offer free film titles such as Hotel for Dogs, Kung Fu Panda, Madagascar: Escape 2 Africa, and Shrek the Third. Check local theatre listings for film selection at specific theatres. Concession items are available and there is a special "Kids Reel Meal" combo pack available. Regal's Free Family Film Festival has been an annual summer event since 1991.

The Free Family Film Festival also allows Regal the opportunity to sponsor the Boys & Girls Clubs of America "Mornings at the Movies" program. The Regal Foundation, a non-profit 501(c)(3) charity established by Regal Entertainment Group, provides monetary grants to local Boys & Girls Clubs to enable them to bring kids to theatres to enjoy the free movies.

"Now in its 19th year, Regal's Free Family Film Festival has become an annual tradition for moviegoers across the country. This year, more than ever, we are proud to offer families a weekly trip to the movies for free," stated Dick Westerling, Regal Entertainment Group Senior Vice President of Marketing and Advertising. "During our Free Family Film Festival, we also provide grants for transportation to the movies for numerous Boys & Girls Clubs across the country. We certainly value our partnership with the Boys & Girls Clubs of America and the opportunity to help many children enjoy big screen entertainment for free."

For a list of participating locations and dates: www.REGmovies.com/nowshowing/freefamilyfilm.aspx. In addition to the free films, many theatres will have other exciting events, displays and demonstrations during the festival days.

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New York, NY - Screenvision, the leading innovator in cinema advertising has partnered exclusively with the Wrigley brand to bring the first ever 3-D ad to cinema beginning May 1st. This exclusive partnership extends Screenvision's focus to create 360 degree entertainment experiences for consumers and marketers alike. Already the 3-D in-lobby leader for advertisers, Screenvision will now also be the 3-D in-theatre leader with the launch of its first ever on screen 3-D ad.

Screenvision's Programming Network will make the 3-D Skittles spot available through its exhibitor partners across the country with coverage in all of the top 10 DMAs. The 3-D ad will run for a five week period beginning May 1st on 762 3-D screens in 461 Screenvision represented theatres.

"3-D movies have made such a big impact for the studios and moviegoers which is very promising for Screenvision's 3-D advertising platform. 2-D ads in our Premium Pod deliver an average 72% total recall, and we anticipate that 3-D ads will generate even stronger awareness," said Matthew Kearney, CEO, Screenvision. "Screenvision continues to be the innovator and leader in the advertising sector providing the marketplace with the largest 3-D network, both in-lobby and on the screen."

"Our exclusive cinema partnership with Wrigley allows us to deliver the first 3-D ad in the history of national cinema advertising-and we are thrilled to be first in our sector" says Mike Chico, Executive Vice President, Sales and Marketing, Screenvision. "This achievement marks our consistent ability to lead the way for advertisers, connecting consumers and brands in ways in which no other medium can. In fact, 77% of our consumers who recall our ads, are likely to purchase brands they see advertised across Screenvision screens."

"Converting ads from 2-D to 3-D is a natural extension of our ongoing support of Cinema moving forward," said Norm Chait, SVP-Director of OOH Investment and Activation, Mediavest. "MediaVest, along with our clients, recognize that our consumers go to the movies to be entertained. With Screenvision now offering the opportunity to have our messages literally jump off the screen, these new technologies help us to truly engage and captivate our core consumers in a memorable way. We are excited to be the first to take advantage of what we know will be a highly desirable consumer touchpoint."

Legend Films, a 3-D conversion company was responsible for the transformation of the Skittles ad from 2-D to 3-D. This repurposing provides marketers with increased flexibility and proves to be much more cost effective.

"At Legend Films, we have the creative expertise and technological innovation to affordably and quickly convert any ad into 3-D, and we look forward to working with Screenvision to introduce our capabilities to marketers who want to take advantage of the latest technology, make an impact in theater and encourage audiences to take notice," said David G. Martin, Chief Executive Officer of Legend Films.

On the heels of Monsters vs Aliens, 2009 is the year of 3-D movies and as the studios continue to push these movies out advertisers are looking to capitalize. It also comes as Screenvision continues its expansion across the marketing, content and exhibitor divisions for the company. As the leader in cinema advertising, Screenvision‘s recent deals with Marcus, Rave, United Entertainment Corporation (UEC) and Studio Movie Grill have expanded its network to over 15,300 screens with 17 of the top 25 exhibitors and increasing its market share to 48%.

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