IMAX Signs Theatre Deal With Big Cinemas in India

http://www.imax.com/corporate/pressReleases/

 

BIG Cinemas' Flagship IMAX(R) Theatre Will Feature IMAX's First Digital

 

Projection System in India

 

TORONTO, June 16 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ: IMAX; TSX: IMX) and BIG Cinemas, a division of Adlabs Films Ltd, a Reliance ADA Group company and India's largest entertainment conglomerate, today announced an agreement to install IMAX's new digital projection system in BIG Cinemas' flagship IMAX(R) theatre in the heart of Mumbai. The installation is scheduled to be completed in July 2009, and will mark the first digital IMAX location in India.

 

The new IMAX digital projection system will replace the IMAX(R) Dome system that is currently operating in the BIG Cinemas location at Wadala, Mumbai. The new technology upgrade is designed to enable BIG Cinemas to take advantage of the growing slate of Hollywood releases in IMAX and IMAX(R) 3D.

 

"BIG Cinemas has constantly endeavored to expand our content offerings to render a world class movie going experience to our guests. Through the installation of IMAX's digital projection system, we will be able to offer our guests the world's most immersive movie experience, and even more premium entertainment options and at a much lower operating cost," said Tushar Dhingra, COO, BIG Cinemas.

 

"We're proud to enter this partnership with BIG Cinemas for installing our first digital projection system in Mumbai, the heart of Bollywood. It is an important strategic step for us as we look to expand our presence in the region," said IMAX CEO Richard L. Gelfond. "BIG Cinemas has already done a fantastic job establishing the IMAX brand in the country, and we're confident that this new theatre will enable them to reach an even wider audience of Indian consumers in the future."

 

The deal adds to the momentum of IMAX's international expansion efforts, which has been fueled by the introduction of IMAX's digital projection technology. To date, IMAX has signed contracts for more than 200 IMAX digital projection systems worldwide, with over 90 currently in operation and at least 115 scheduled to be in operation by year end.

 

IMAX's revolutionary digital projection system delivers The IMAX Experience(R) and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX 3D presentations.

 

About Adlabs Films Ltd: (BSE: 532399, NSE: "ADLABSFILM")

Adlabs Films Limited (www.adlabsfilms.com), a member of the Reliance Anil Dhirubhai Ambani Group, is India's fastest growing film and entertainment services company. Adlabs has a dominant and comprehensive presence in Film Services: Motion Picture Processing and DI, Film Restoration, Digital Mastering, Studios and Equipment rentals.

 

Adlabs Films also operates India's largest cinema chain with about 425 screens spread across India, US and Malaysia. It has a significant presence in the film distribution space with a nationwide presence across India as well as offices in London, New York, Los Angeles and Malaysia. Adlabs' television venture, Synergy Adlabs, is among the top players in the television programming industry.

 

About BIG Cinemas

BIG Cinemas, a division of Adlabs Films Limited (www.adlabsfilms.com), a member of the Reliance Anil Dhirubhai Ambani Group, is India's largest cinema chain with about 425 screens spread across India, US and Malaysia. After pioneering the IMAX experience in India, it recently launched 3D and 6D technology and is the only cinema chain to screen films in all three formats. It is also launching the first megaplexes in the country.

 

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in digital and film-based 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(R) 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). IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of March 31, 2009, there were 371 IMAX theatres (250 commercial, 121 institutional) operating in 43 countries.