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IMAX Corp. (IMAX) Announces Deal with DreamWorks Animation for Fifth Release

IMAX Corporation (IMAX), headquartered jointly in New York City and Toronto, Canada, is the one of the world’s leading entertainment technology companies. The company’s emphasis is on film and digital imaging technologies including 3D, post-production and digital projection. IMAX also designs and manufactures cameras, projectors and consistently commits significant funding to ongoing research and development.

The company announced this week an agreement to release Madagascar: Escape 2 Africa into IMAX® Digital theaters worldwide on November 7, 2008. The agreement completes IMAX’s integration into DreamWorks Animation’s release strategy for the studio’s next five theatrical releases from June 2008 to May 2010. Under the terms of the agreement, Madagascar: Escape 2 Africa will be digitally re-mastered and play for a special release in IMAX theaters, including select new IMAX® Digital theaters, which being rolling out this summer.

Richard L. Gelfond and Bradley J. Wechsler, co-chairman and co-chief executive officers of IMAX, expressed their pleasure over the agreement with DreamWorks. The pair further stated that the virtual elimination of film prints enables studios to release titles in a shorter window, thus allowing IMAX theaters to program more content. The company believes this will translate into increased revenue for exhibitors and ultimately lead to accelerated growth of the IMAX network worldwide.

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