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TORONTO—Oct 17, 2007

IMAX Sets Target Launch Date of Digital Projection Technology

Prototype Theatres to be Deployed Q2 2008

IMAX Corporation (NASDAQ:IMAX; TSX:IMX) today announced that it has moved up the launch date of its digital projection system in development to the second quarter of 2008 from its previously announced timeframe of the end of 2008 to mid 2009. The highly anticipated IMAX(R) digital projection system will further enhance The IMAX Experience(R) and help to drive profitability for studios, exhibitors and IMAX(R) theatres by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens.

Under the current roll-out schedule, the Company anticipates that three digital IMAX prototypes will be installed during the second quarter of 2008. Shortly thereafter, IMAX expects to install three additional prototypes. Once these prototypes meet performance specifications, IMAX expects to proceed with a full rollout during the second half of the third quarter and in the fourth quarter of 2008.

"We've invested significant resources toward the development of our digital projection technology and we are excited about bringing it out of research and development and into the marketplace," said IMAX's Co-Chairmen and Co-CEOs, Richard L. Gelfond and Bradley J. Wechsler. "Several key exhibitors, studios and consumer research groups have already experienced the digital prototype we've been running for the past several months, and we are very encouraged by the unanimously positive reaction to the next iteration of The IMAX Experience."

IMAX's Digital System to Set New Standards in Cinematic Presentation for Consumers, Studios and Exhibitors

IMAX's digital projection system integrates a suite of proprietary IMAX intellectual properties with commercially available digital projection technology in a way that creates The IMAX Experience in a digital format. These properties, along with proprietary technology applied to the content, dramatically enhance the image fidelity, light output and contrast in both 2D and 3D to produce a stunningly crisp and bright image on the big IMAX screen and deliver the unparalleled image and sound quality that IMAX consumers have come to recognize and enjoy. In consumer testing conducted by Millward Brown, a respected market research firm, 98 percent of respondents who had seen IMAX before/were able to make the comparison, said that the prototype IMAX digital system fits with their expectations for the brand, and 46 percent said that the overall experience in the digital IMAX theatre was better than previous IMAX experiences.

The new system is configured for an IMAX MPX(R)-style auditorium and is capable of showing Hollywood movies that have been digitally re-mastered using IMAX's proprietary DMR(R) technology in both IMAX and IMAX(R) 3D. The system will also be capable of showing original IMAX documentaries.

Commercial Theatre Operators Endorse IMAX's Digital System and its Business Model

IMAX has already announced several multi-theatre agreements which are to include the new digital projection system. The Company has also indicated that it intends to offer and sell upgrades to the new digital system to commercial operators who have IMAX MPX systems.

In North America, IMAX signed a joint venture agreement with Regal Cinemas for five systems, with three of the locations identified as direct to digital installs during the fourth quarter of 2008 and second quarter of 2009. Similarly, IMAX signed a joint venture agreement with Muvico Theaters for three systems, with the third targeted to be a digital install in Muvico's highly anticipated Xanadu complex in New Jersey. The Company also entered into a second multi-theatre agreement with Goodrich Quality Theaters, following the highly successful launch of the exhibitor's first two theatres. The new agreement includes a digital installation in a new multiplex planned for the fourth quarter of 2009.

Internationally, IMAX announced its largest ever multiple-theatre deal in Asia with China's Wanda Cinema Line Corporation. The agreement includes seven locations expected to utilize IMAX's digital projection system.


About IMAX Corporation: IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you’ve never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX’s network is among the most important and successful theatrical distribution platforms for major event films around the globe.

IMAX is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2017, there were 1,302 IMAX theatres (1,203 commercial multiplexes, 11 commercial destinations and 86 institutions) in 75 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code “HK.1970.”
IMAX Corporation Directory page
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More IMAX News:
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Apr 19, 2018 IMAX and Cinépolis Sign New Four-Theatre Agreement as Demand for IMAX in India Builds
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Apr 3, 2018 IMAX Signs 30-Theatre Agreement with Guangzhou Jinyi Media Corporation in China
Feb 26, 2018 IMAX Builds on Signing Momentum in India; Announces New Five-Theatre Agreement with PVR Cinemas
Feb 6, 2018 IMAX Signs Five-Theatre Agreement with Supercines in Ecuador
Jan 9, 2018 CJ CGV Signs Four-Theatre Agreement with IMAX in Turkey
Sep 26, 2017 Dadi Cinema Enters IMAX Business with Five-Theatre Agreement in China
Sep 12, 2017 Malco Theatres Enters IMAX Business with Two-Theatre Agreement in the U.S.
Aug 24, 2017 IMAX and Cineplex Expand Partnership, Adding Two Auditoriums and IMAX VR Centre in Canada
Jul 18, 2017 IMAX Signs Seven-Theatre Agreement with Shanghai Bestar Cinemas in China
May 24, 2017 IMAX Continues Rapid Expansion with Les Cinémas Gaumont Pathé in Europe; Signs an Additional Six-Theatre Agreement for the Group’s Top-Performing Locations in France and Holland
Apr 26, 2017 PVR Cinemas Doubles its IMAX Footprint with Five-Theatre Agreement in India
Apr 18, 2017 IMAX and Omnijoi Cinemas Expand Partnership in China with 40-Theatre Agreement
Apr 11, 2017 IMAX Signs Agreement with AMC Entertainment for 25 New IMAX® Theatres at Odeon Cinemas Group and Nordic Cinema Group Locations; Marking Largest European Agreement in IMAX History
Feb 27, 2017 Bona Film Group Makes Significant IMAX Commitment with 30-Theatre Agreement in China
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