SHANGHAI, Aug. 25 --CNW-AsiaNet/InfoQuest IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and Evershining Large Format Theatre Management Corp., a division of Shanghai United Cinemas, today announced that the Peace Cinema IMAX(R) theatre has become one the top performing theatres in China, selling out over a dozen shows of Spider-Man 2 -- more than any other theatre in the region. The sequel to the 2002 box office sensation Spider-Man was digitally re-mastered into IMAX's format through IMAX's revolutionary IMAX DMR(R)(Digitally Re-Mastering) technology, for exhibition in IMAX theatres. The early success of IMAX DMR in China helps to build the momentum of IMAX's commercial strategy in the Company's fastest growing market. "The popularity of the Peace Cinema IMAX theatre demonstrates the addedvalue that The IMAX Experience(R) brings to our multiplex and we are thrilledthat Spider-Man 2: The IMAX Experience has drawn such an impressive number ofmoviegoers," said Wang Bozheng, General Manager of Peace Cinema. "The public'swillingness to pay a premium ticket price clearly indicates that there is ademand to see Hollywood films in IMAX theatres and so far, the feedback hasbeen extremely positive." "The strong performance of the Shanghai Peace Cinema IMAX theatre's first day and date release of an IMAX DMR film is an important indication of theworldwide appeal of IMAX DMR films," said Larry T. O'Reilly, Senior VicePresident, Theatre Sales and Film Distribution, IMAX Corporation. "We haveseen that when the popularity of an IMAX theatre grows in a new market, thereis often demand for additional IMAX theatres in surrounding markets. The success of Spider-Man 2: The IMAX Experience at the Peace Cinema demonstratesthat there is demand for The IMAX Experience in China and with the help of topexhibitors such as Shanghai United Cinemas, we look forward to continued success with our expansion in the region." In addition to the IMAX Theatre at Peace Cinema, there are three other IMAX theatres currently operating in the region with several more scheduled toopen. There are two IMAX theatres located at the Shanghai Science andTechnology Museum and one IMAX theatre located in Harbin, at the HeilongjiangScience and Technology Museum. China is IMAX's fastest growing market, witheleven theatres expected to be operating by 2006. About Shanghai Evershining Giant Screen Theatre Co. Ltd. Jointly invested and founded by Shanghai Evershining Culture (Group) Co., Ltd. and Shanghai United Cinema Line Co., Ltd. in October, 2003, ShanghaiEvershining IMAX Theatre Co., Ltd.'s businesses include IMAX theatre operationand investment in potential IMAX theatres. Shanghai Evershining IMAX TheatreCo., Ltd. owns and operates the IMAX theatre at Peace Cinema, the firstcommercial IMAX theatre in China. About IMAX Corporation Founded in 1967, IMAX Corporation is one of the world's leadingentertainment technology companies. IMAX's businesses include the creation anddelivery of the world's best cinematic presentations using proprietary IMAXand IMAX(R) 3D technology and the development of the highest quality digitalproduction and presentation. IMAX has developed revolutionary technology called IMAX DMR (Digital Re-mastering) that makes it possible for virtually any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience. The IMAX brand is recognized throughout the world forextraordinary and immersive family entertainment experiences. As of June 30,2004, there were 240 IMAX theatres operating in 35 countries. IMAX(R), IMAX(R) 3D, IMAX DMR(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com. This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risksand uncertainties which could cause actual results to differ materially fromfuture results expressed or implied by such forward looking statements.Important factors that could affect these statements include the timing oftheatre system deliveries, the mix of theatre systems shipped, the timing ofthe recognition of revenues and expenses on film production and distributionagreements, the performance of films, the viability of new businesses andproducts, and fluctuations in foreign currency and in the large format andgeneral commercial exhibition market. These factors and other risks anduncertainties are discussed in the Company's Annual Report on Form 10-K/A forthe year ended December 31, 2003 and in the subsequent reports filed by theCompany with the Securities and Exchange Commission. SOURCE: Imax Corporation CONTACT: Media: IMAX Corporation, New York, Romi Schutzer (212) 821-0144, [email protected] Entertainment Media: Newman & Company, Los Angeles, Al Newman (818) 784-2130, [email protected] Analysts: IMAX Corporation, New York, Cheryl Cramer (212) 821-0121, [email protected] Business Media: Sloane & Company, New York, Whit Clay (212) 446-1864, [email protected] --Distributed by AsiaNet (www.asianetnews.net)----InfoQuest (SP)--