Home of Dubai World Cup Includes IMAX as Part of Multi-Billion Dollar
Makeover
DUBAI, UAE, June 18 /CNW/ - IMAX Corporation today announced it hassigned an agreement with Meydan LLC, a sports and entertainment propertydeveloper in Dubai, UAE, to install an IMAX(R) theatre as part of amulti-billion development at the world-famous Nad Al Sheba, Dubai's premierethoroughbred horse racing track. Nad Al Sheba is home to the Dubai World Cup,one of the world's most prestigious horse racing events. Expected to beinstalled by the end of 2009, the new theatre brings the total number of IMAXlocations in the Middle East to 12 by 2010.
"IMAX is one of the most prestigious and globally recognized cinemabrands, and we are confident that our new IMAX theatre will help to reinforceMeydan as a premiere entertainment destination in Dubai," said Saeed A-Tayer,Chairman of Meydan. "We are very excited to offer our patrons a powerfulcinematic experience they can't get anywhere else."
"Dubai continues to be recognized around the world for its high end,luxury developments, and we're pleased that the IMAX brand will be included inthe Meydan project," said IMAX Co-Chairmen and Co-CEOs Richard L. Gelfond andBradley J. Wechsler. "We remain committed to growing the IMAX networkinternationally, and we believe that with the right partners, Dubai serves asan excellent platform from which we can increase our visibility in the MiddleEast."
About Meydan LLC
Meydan LLC (Limited Liability Company) oversees the development of theUAE's incredible new iconic horseracing development. It will feature aworld-class grandstand, and the enterprise will also serve as a major businessand conference district.
Features of Meydan - an Arabic word, which is translated as a place wherepeople congregate and compete - include five-star hotels, operated by BanyanTree, world-class golf course, more than 10 restaurants, covered car parkingfor 10,000, the Meydan Museum and gallery, and the Dubai Racing Club offices.Meydan Racecourse is in close proximity to Meydan City - a self-containedcommunity consisting of commercial and residential plots, retail outlets andarcades with canal, waterfront and promenade views. It is also located nearMeydan Business Park, which offers over 2.9 million square feet of officespace in 17 blocks. The office pods are set in single pedestrian podium witharchitecture, design and colour creating an environment-friendly workspacethat inspires. The MBP also boasts an impressive workspace lobby which is anexpansive 12-hectare landscaped podium, while the plaza cleverly conceals a3,400-carpark facility for resident workforce.
About IMAX Corporation
IMAX Corporation is one of the world's leading digital entertainment andtechnology companies. The worldwide IMAX network is among the most importantand successful theatrical distribution platforms for major event Hollywoodfilms around the globe, with IMAX theatres delivering the world's bestcinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R)technology. IMAX DMR is the Company's groundbreaking digital re-masteringtechnology that allows it to digitally transform virtually any conventionalmotion picture into the unparalleled image and sound quality of The IMAXExperience(R). IMAX's renowned projectors and new digital systems displaycrystal-clear images on the world's biggest screens. The IMAX brand isrecognized throughout the world for extraordinary and immersive entertainmentexperiences for consumers. As of March 31, 2008, there were 298 IMAX theatresoperating in 40 countries.
IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX(R) MPX(R), and The IMAXExperience(R) are trademarks of IMAX Corporation. More information on theCompany can be found at www.imax.com.
This press release contains forward looking statements that are based onmanagement'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 ongoingdiscussions with the SEC and OSC relating to their ongoing inquiries and theCompany's accounting, the timing of theatre system deliveries, the mix oftheatre systems shipped, the timing of the recognition of revenues andexpenses on film production and distribution agreements, the performance offilms, the viability of new businesses and products, risks arising frompotential material weaknesses in internal control over financial reporting andfluctuations in foreign currency and in the large format and generalcommercial exhibition market. These factors and other risks and uncertaintiesare discussed in the Company's Annual Report on Form 10-K for the year endedDecember 31, 2007, as well as the Company's Quarterly Reports on Form 10-Q.
