Release Details

TORONTO, Jan. 24 /PRNewswire/ -- IMAX Corporation (Nasdaq: IMAX; TSE: IMX) today announced it anticipates its operating results for fiscal 2000 to be approximately $0.30 per share before the impact of the previously noted provisions related to the adoption of accounting rules SAB 101 and SOP 00-2. The Company will also effect certain other provisions in the quarter and expects that the cumulative effect of the provisions will be material, and will result in a substantial reported net loss for the fiscal year. At December 31, 2000, the Company had approximately $38 million in cash and equivalents, consistent with its prior estimate. The Company will discuss its results in more detail as well as its 2001 earnings outlook during its fourth quarter conference call.

IMAX Corporation and its subsidiaries comprise one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies, including giant-screen images, 3D presentations, digital post-production and digital projection. There were more than 220 IMAX theatres operating in 28 countries around the world as of December 31, 2000. IMAX's subsidiaries include Digital Projection International, whose primary business is the design and manufacture of high-end digital image delivery devices, Sonics Associates, a designer and manufacturer of high-end sound systems and DKP/70MM Inc., award-winning specialists in image quality control and post-production. IMAX Corporation is a publicly traded company listed on both the Toronto and Nasdaq stock exchanges. More information on the Company can be found at http://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 effect 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 viability of new businesses and fluctuations in foreign currency and in the commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 1999 and in the subsequent reports filed by the Company with the Securities and Exchange Commission.

IMAX(R) is a registered trademark of IMAX Corporation.

CONTACT: Victoria Dinnick, 905-403-6366, vdinnick@imax.com, or Analysts