Cineplex Entertainment to Add Three New IMAX Digital Systems and Upgrade Seven Existing IMAX Film Theatres to IMAX Digital

TORONTO, ONTARIO--(Marketwire - May 16, 2011) - Cineplex Entertainment (TSX:CGX) and IMAX Corporation (TSX:IMX)(NYSE:IMAX) today announced an agreement under which Cineplex will acquire three new digital IMAX® systems in addition to upgrading seven of its existing IMAX film-based projectors to digital IMAX systems. The three new theatres will be located in Winnipeg, Manitoba, at SilverCity Polo Park Cinemas (opening July 1), and in Ontario at SilverCity Windsor Cinemas (opening July 15) and SilverCity Ancaster Cinemas (opening this fall).

"Our IMAX theatres have always been very well received by our theatre guests," said Ellis Jacob, President and CEO, Cineplex Entertainment. "We are pleased to extend the premium IMAX Experience® to new audiences in Southern Ontario and Winnipeg, and to upgrade seven of our existing IMAX projection systems to digital, bringing our total IMAX locations to 12."

"We are happy to enter into this expanded deal with Cineplex, which has been a long-standing and successful exhibitor partner for IMAX in Canada," said Richard L. Gelfond, CEO of IMAX Corporation. "We are particularly pleased that two of the new Cineplex IMAX locations will open in time to benefit from the exciting slate of summer blockbusters scheduled to be released in the IMAX format, such as the July releases of Transformers 3: An IMAX® 3D Experience and Harry Potter and the Deathly Hallows Part 2: An IMAX®3D Experience."

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry's top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company's new digital projection and sound systems - combined with a growing blockbuster film slate - are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX theatres deliver the world's best cinematic presentations using proprietary IMAX®, IMAX 3D®, and IMAX DMR® (Digital Re-Mastering) technologies. IMAX DMR enables virtually any motion picture to be transformed into the unparalleled image and sound quality of The IMAX Experience®.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo and Shanghai. As of December 31, 2010, there were 518 IMAX theatres (396 commercial, 122 institutional) operating in 46 countries.

IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® 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/imax) and YouTube (www.youtube.com/imaxmovies).

About Cineplex Entertainment

Cineplex Inc. ("Cineplex") is the largest motion picture exhibitor in Canada and owns, leases or has a joint-venture interest in 130 theatres with 1,352 screens serving approximately 70 million guests annually. Headquartered in Toronto, Canada, Cineplex operates theatres from British Columbia to Quebec and is the exclusive provider of UltraAVX™ and the largest exhibitor of digital, 3D and IMAX projection technologies in the country. Proudly Canadian and with a workforce of approximately 10,000 employees, the company operates the following top tier brands: Cineplex Odeon, Galaxy, Famous Players, Colossus, Coliseum, SilverCity, Cinema City and Scotiabank Theatres. Cineplex shares trade on the Toronto Stock Exchange (TSX) under the symbol "CGX". For more information, visit www.cineplex.com.