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Manila, Philippines—Jul 7, 2010

IMAX Signs Five-Theatre Deal in Philippines with SM Prime Holdings

Country's Largest Mall Operator/Exhibitor More than Doubles Its Number of IMAX® Theatres Following Success of First Two Locations
IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and SM Prime Holdings, the largest mall operator and exhibitor in the Philippines, today announced an agreement to install five digital IMAX projection systems at SM shopping malls in the cities of Las Piñas City, Fort Bonifacio, Davao City, Angeles City and Manila. 

The deal follows the market-leading success of SM's two existing IMAX® theatres in Manila and Quezon, with the operator's first IMAX location in Manila ranking as the highest grossing screen in the country since it opened.

Under the terms of the parties' agreement, three of the IMAX theatre systems are expected to be installed in 2011 and two in 2012. SM will also open another location under a previous agreement in the city of Cebu this month in time for the highly anticipated release of Inception. The new theatre deal brings the total number of IMAX system deals announced year-to-date to 89, which compares to 35 system signings in all of 2009.

"The tremendous success of our first two IMAX theatres demonstrates how consumers in the Philippines love The IMAX Experience®, and based on this success, the next logical step for our business is to add more locations," said Mr. Hans Sy, President, SM Prime Holdings Inc. "The IMAX theatres serve as a great source of incremental revenue for our business, and we're seeing a growing demand for the IMAX brand as more big Hollywood movies are released in the format."

"SM Prime Holdings has been a fantastic partner for us in the Philippines, and they have done a great job of marketing The IMAX Experience to their patrons, which has contributed significantly to the strength of the brand in that market," said IMAX's Chief Executive Officer Richard L. Gelfond.  "SM's commitment to add five additional locations demonstrates how the success of our theatre business model is driving repeat business from our existing exhibition partners. We also believe that an endorsement from a prominent and successful IMAX operator will further stimulate exhibitor interest in the IMAX business in the Asia-Pacific region."

Mr. Gelfond continued, "This deal also builds on the momentum of theatre systems signings activity and network growth that we have experienced since the beginning of the year. So far this year we have more than doubled the total number of systems signings as compared to 2009 with many of these new locations scheduled to open in 2010 and 2011. This network expansion will have a positive impact on IMAX's future revenues and earnings given the revenues from the sales of the systems and recurring revenues from joint revenue sharing theatres, theatre maintenance and box office royalties."

The two existing IMAX theatres operated by SM in the Philippines have consistently posted market-leading box office performances. For the recent release of Toy Story 3, the two IMAX screens generated a per screen average that was more than seven times the national per screen average for the film. For Alice in Wonderland, the IMAX per screen average was more than ten times the national average.

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:
Jul 12, 2018 IMAX® with Laser Expands Across Europe as Les Cinémas Pathé Gaumont Commits to 20 Systems
May 15, 2018 IMAX Eyes Expansion in Saudi Arabia; Signs Multi-Theatre Deal with Vox Cinemas
Apr 30, 2018 Marvel Studios’ Avengers: Infinity War Makes Hollywood History as First Film Shot Entirely with IMAX ® Cameras
Apr 24, 2018 IMAX Launches Next-Generation IMAX ® with Laser Experience to Enhance Blockbuster Moviegoing at AMC Theatres®
Apr 24, 2018 IMAX and Cineworld Group Sign Agreement to Install New IMAX ® with Laser Experience in 55 Cineworld and Regal IMAX Locations
Apr 19, 2018 IMAX and Cinépolis Sign New Four-Theatre Agreement as Demand for IMAX in India Builds
Apr 19, 2018 Record IMAX Signings in India Continue as Inox Leisure Ltd. Adds Five New IMAX ® Theatres to Circuit
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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