Largest Hong Kong Exhibitor in China to Open IMAX® Theatres Beginning in 2012

December 9, 2011

Source: IMAX

IMAX will install four new digital IMAX theatre systems across China between Orange Sky Golden Harvest (China) Cinemas Co., Ltd., a wholly-owned subsidiary of Orange Sky Golden Harvest Entertainment (Holdings) Limited (HKSE: 1132) (OSGH), a leading film exhibition, distribution and production company and IMAX's wholly-owned subsidiary, IMAX China.

Under the terms of the agreement, the first theatre system is scheduled to be installed in the Tianjin Milky Way International Shopping Centre in Tianjin in December 2012. The second IMAX theatre will be installed in the Guangzhou Feishi Plaza in Guangdong and is slated to open in September 2013. The remaining two systems are scheduled for installation by the end of 2014. All four IMAX systems will be added into new construction projects.

"IMAX is a powerful differentiator from the in-home entertainment experience, which is prompting more and more Chinese consumers to seek this out-of-home entertainment," said Andrew Mao, CEO, OSGH. "We believe in the value that IMAX will bring to our business and are excited to add four new IMAX theatres as the flagship attractions to our top locations."

"We're in the early stages of our expansion in China, as is the cinema industry overall. While our network has increased to over 200 theatres open or in backlog today, there are still 35 cities in China with a population of at least one million people that have no movie theaters," said Richard L. Gelfond, CEO, IMAX. "We are pleased to partner with one of the premier film and entertainment companies in Asia to help meet the increasing demand and support our expansion in this high growth region."

"OSGH is a pioneer in the Asian film industry and was one of the first companies to bring the multiplex concept to Singapore," said Jiande Chen, CEO, IMAX China. "They share our legacy of innovation and together we are excited to bring The IMAX Experience to more audiences in China."

"The fact that one of the biggest media companies in Asia is looking to IMAX to grow their business, is a tremendous endorsement of the value that we deliver to our exhibitors," added Don Savant, IMAX's Senior Vice President and Managing Director, Asia Pacific. "Today's agreement with OSGH highlights the value of the IMAX brand and builds on the continued momentum of our aggressive network expansion in China."

IMAX's digital projection system delivers The IMAX Experience® 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 Orange Sky Golden Harvest (China) Cinemas Co., Ltd.

Orange Sky Golden Harvest (China) Cinemas Co., Ltd. is a wholly-owned subsidiary of OSGH, a leading integrated film entertainment company in the markets where it operates and primarily engages in exhibition, distribution, production and financing in Asia, with a focus on growing its business in the Mainland China. As of October 2011, the Group operates 48 multiplexes with collectively 371 screens across Mainland China, Hong Kong, Taiwan and Singapore and is one of the leading distributors in its operating territories.

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