DIGITAL PROJECTION MANAGEMENT TEAM SUCCESSFULLY CONCLUDES THEIR SECOND MBO

MANCHESTER, UK, December 12, 2001 - Digital Projection International (DPI), the Manchester based high technology projector company, today announced that a management team under Managing Director Brian Critchley has successfully regained it's control and independence through this transaction. This development represents a significant change to the company's operating flexibility and puts DPI in a much stronger position for the future.

Originally part of the Rank Organisation, in 1989 a core team was set in motion to identify the projection technology of the future. This team identified the revolutionary new technology of Digital Micromirror Device (DMD)™ developed and pioneered by Texas Instruments. The belief and initial results allow for the creation of DPI and the first MBO from the Rank Group PLC. The funding for this MBO was lead by 3i and supported by Phildrew Ventures Fourth Fund

This newly created company and technology received two prestigious Emmy® Awards in 1998. The first for outstanding achievement in engineering development, the second to Mr. Brian Critchley the managing director for overall development of projectors. Other accolades quickly followed including the Design Council Award for Millennium Product status in 1999.

In September 1999, IMAX Corporation recognized the global potential and expertise demonstrated by DPI and acquired all the outstanding shares making DPI a wholly owned subsidiary of IMAX Corporation.

During this period of ownership DPI product has been used in such global events as the Oscars Ceremony 2000, Hannover Expo 2000, and the Grammy Awards amongst numerous others.

In November 2001, due to a realignment in the IMAX core business strategy DPI was offered up for sale. The management team under Brian Critchley very quickly and successfully concluded the buy back of the company on 12th December 2001.

"We are delighted," said Brian Critchley. "This allows us to focus 100 percent of DPI resources toward the products and services that our customers value. We look forward to continued growth into new market sectors and an exciting future using innovation and expertise to maintain our world leading position.."