Hubble 3D to Reveal Unprecedented Views of the Universe in IMAX(R) Theatres Starting March 19, 2010

Audiences to Accompany Spacewalking Astronauts as They Perform the Final Upgrade to the Hubble Space Telescope

IMAX Corporation (Nasdaq:IMAX) (TSX:IMX), and Warner Bros. Pictures today announced that Hubble 3D will be released exclusively in IMAX(R) and IMAX(R) 3D theatres worldwide beginning March 19, 2010, with expansion to additional IMAX locations on April 23rd, timed to the Hubble Space Telescope’s 20th Anniversary.

The IMAX 3D camera, which flew onboard the Space Shuttle Atlantis, captured stunning 3D images of the intricate spacewalks required to service the telescope during the most recent mission last May. Shot by the STS-125 astronauts, this intimate look at the complexities of repairing the telescope will put IMAX audiences right there along-side the spacewalking astronauts. Hubble 3D will combine this awe-inspiring IMAX footage with breathtaking up-close imagery of distant galaxies, the birth of stars and planets, and more — revealing the cosmos as never before.

“We have waited a long time to get the IMAX camera back into space and finally the opportunity came with the amazing final repair mission of the Hubble Space Telescope,” said Toni Myers, director, producer and editor of the film. “In Hubble 3D, audiences will be able to float in space alongside the astronauts as they perform the repairs and upgrades to the telescope, and then fly to the edge of the universe, through its first new images. Hubble’s incredible legacy changes the way we see and think about the universe, and it is an honor to give people a chance to experience its breath-taking images in IMAX 3D.”

On Wednesday, September 9th, NASA will unveil the first images from the newly re-furbished Hubble Space Telescope. Visit www.nasa.gov for more information.

Launched in 1990 and greatly extended in its scientific powers through new instrumentation, the Hubble Space Telescope has validated Lyman Spitzer Jr.’s original concept of large, space-based observatory orbiting far above the distorting effects of the Earth’s atmosphere. In Hubble 3D audiences will come to understand the profound significance of the greatest scientific instrument since Galileo’s original telescope and how it has forever changed both our view of the universe and of ourselves.

Hubble 3D is an IMAX and Warner Bros. Pictures production, in cooperation with National Aeronautics and Space Administration (NASA). The film reunites the Space Station 3D filmmaking team, led by producer/director Toni Myers. James Neihouse, director of photography, also doubles as the astronaut crew trainer. Judy Carroll is associate producer, and Graeme Ferguson, co-founder of IMAX and pioneer producer of many IMAX space films, is executive producer.

About IMAX Corporation

IMAX Corporation is one of the world’s leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world’s best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) technology. IMAX DMR is the Company’s groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of June 30, 2009, there were 394 IMAX theatres (273 commercial, 121 institutional) operating in 44 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR, The IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imaxnews) and YouTube (www.youtube.com/imaxmovies).

This press release contains forward looking statements that are based on management’s 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 affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company’s accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, 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, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.