ASIANET: IMAX CORPORATION ANNOUNCES NEW THEATRE SIGNING IN THAILAND AUS

TORONTO, Jan. 14 /PRNewswire-Asianet/ -- Imax Corporation (Nasdaq: IMAXF; TSE: IMX) today announced the signing of an agreement for a 600-seat IMAX 3D theatre to be located in Bangkok, Thailand. The theatre will be operated by Cinema Plus Limited (ASX: CIA), Imax's Australian licensee, and Major  Cineplex Company Limited, the Thailand-based cinema and retail operator.

The signing reflects the increasing interest consumers are showing in the Asian and Thai entertainment industry despite the region's economic downturn.

This will be the first IMAX theatre in Thailand and is scheduled to open in the summer of 1998.

"Despite the financial market conditions, we see the Pacific rim as a continued area of growth for Imax as real estate opportunities arise for our customers," said Imax co-CEO Rich Gelfond. "We are very happy that both  Major Cineplex and Cinema Plus share our vision for this marketplace and are investing in the best IMAX technology available today for this potentially lucrative market."

In 1997, Major Cineplex's entertainment complex on Sukhumvit Road, near Ekamai was the site of Imax's first motion simulation theatre location in Thailand. Cinema Plus is a publicly traded company whose sole business is the operation of IMAX theatres in the Australian/New Zealand and Asian marketplace.

In addition to the Panasonic IMAX Theatre at Darling Harbour, Cinema Plus is constructing and has commitments for a further four IMAX theatres and is planning on establishing and operating up to eight IMAX theatres in Australia, New Zealand and Asia within the next five years. Major Cineplex Co. Ltd., established approximately 40 years ago, operates in the areas of entertainment, retail, and real estate.  As part of its activities it has 75 cinema screens operating in Thailand and a further 50 screens under construction.

With the addition of Major Cineplex, Imax has now contracted with 14 commercial exhibitors: Major Cineplex, Bofiscope UFA of Germany, Gaumont Cinemas of France, Cinemark USA, Cineplex Odeon, Edwards Theatres, Empire Theatres, Famous Players (a subsidiary of Viacom Inc.), Krikorian Premiere Theatres, Marcus Theatres Corporation, Muvico Entertainment, Regal Cinemas, and Sony.

Founded in 1967, Imax Corporation has consistently delivered the world's premiere cinematic experiences.  In 1997, Imax was awarded the sole Oscar(R) for Scientific and Technical Achievement by the Academy of Motion Picture

Arts and Sciences. The award recognized Imax's innovation in creating one of the world's best film capture and projection systems as well as Imax's acceptance as part of the entertainment mainstream.

As of September 30, 1997, there were more than 150 permanent IMAX  theatres in 22 countries including 31 IMAX theatres in Asia Pacific: Hong Kong; Singapore; Seoul and Taejon, Korea; Taipei and Taichung, Taiwan; Jakarta, Indonesia; four theatres in Australia and 17 theatres in Japan, with a

backlog of more than 65 theatre systems scheduled to open during the next few years. Imax has forged strategic alliances and relationships with some of the largest corporations in the world, including Sony Corporation, Caesars World, Circus Circus Enterprises, Ogden Corporation, Famous Players Inc. (a subsidiary of Viacom Inc.) and Regal Cinemas, Inc.

Over 500 million people have  experienced an IMAX presentation since the medium premiered in 1970.  In 1996 alone, more than 60 million people worldwide attended an IMAX theatre.

SOURCE  IMAX Corporation

CONTACT:  Victoria Dinnick of Imax Corporation, Toronto, 905-403-6366,  or Al Newman, Entertainment Media, of Imax Corporation, Los Angeles, 310-979-5601, or Brian Weisfeld, Analysts, of Imax Corporation, New York, 212-821-0121; or Kerry O'Brien, Media, of Edelman Financial, New York, 212-704-8292, for Imax Corporation

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Web site:  http://www.imax.com/