Paramount and DreamWorks Animation Each Declare Exclusive Support for HD DVD

Movies Distributed by Paramount Home Entertainment Including Paramount

Pictures, DreamWorks Animation SKG, DreamWorks Pictures, Paramount Vantage,

Nickelodeon Movies and MTV Films to be Released Exclusively in HD DVD

Exclusive Program To Begin with Release of "Blades of Glory," Followed by

"Transformers" and "Shrek the Third," Films Representing More Than $1.5

Billion in Combined Worldwide Box Office

Aug 20, 2007, 01:00 ET from Paramount Pictures from ,DreamWorks Animation

    LOS ANGELES, Aug. 20 /PRNewswire-FirstCall/ -- Paramount Pictures, a
 unit of Viacom Inc. (NYSE:   VIA and VIA.B) and DreamWorks Animation SKG
 (NYSE:   DWA), each announced today that they will exclusively support the
 next-generation HD DVD format on a worldwide basis. The exclusive HD DVD
 commitment will include all movies distributed by Paramount Pictures,
 DreamWorks Pictures, Paramount Vantage, Nickelodeon Movies and MTV Films,
 as well as movies from DreamWorks Animation, which are distributed
 exclusively by Paramount Home Entertainment.
     The companies each said that the decision to distribute exclusively in
 the HD DVD format resulted from an extensive evaluation of current market
 offerings, which confirmed the clear benefits of HD DVD, particularly its
 market-ready technology and lower manufacturing costs. Paramount Home
 Entertainment will launch its exclusive HD DVD program with the release of
 the blockbuster comedy hit "Blades of Glory" on August 28th and follow with
 two of the biggest grossing movies of the year "Transformers" and "Shrek
 the Third". These three titles alone represent more than $1.5 billion in
 box office ticket sales worldwide.
     "The combination of Paramount and DreamWorks Animation brings a
 critical mass of current box office hits to consumers with a line-up of
 live action and animated films that are perfect for HD DVD," stated Brad
 Grey, Chairman and CEO of Paramount Pictures, which is currently the
 leading studio in domestic box office. "Part of our vision is to
 aggressively extend our movies beyond the theater, and deliver the quality
 and features that appeal to our audience. I believe HD DVD is not only the
 affordable high quality choice for consumers, but also the smart choice for
     "We decided to release "Shrek the Third" and other DreamWorks Animation
 titles exclusively on HD DVD because we believe it is the best format to
 bring high quality home entertainment to a key segment of our audience --
 families," stated DreamWorks Animation CEO, Jeffrey Katzenberg. "We believe
 the combination of this year's low-priced HD DVD players and the commitment
 to release a significant number of hit titles in the fall makes HD DVD the
 best way to view movies at home."
     With the rapid increase of HD TV screens in households, and audiences
 wanting to enjoy the total entertainment experience, HD DVD has emerged as
 the most affordable way for consumers to watch their movies in high
 definition. In addition to pristine quality, HD DVD also offers consumers
 the chance to personalize the movie-watching experience, to interact with
 their movies and even to connect with a community of other fans.
     Paramount Home Entertainment will issue new releases day and date as
 well as catalog titles exclusively on HD DVD. Today's announcement does not
 include films directed by Steven Spielberg as his films are not exclusive
 to either format.
     About Paramount Pictures Corporation
     Paramount Pictures Corporation (PPC), a global producer and distributor
 of filmed entertainment, is a unit of Viacom (NYSE:   VIA, VIA.B), a leading
 content company with prominent and respected film, television and digital
 entertainment brands. The company's labels include Paramount Pictures,
 Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and
 DreamWorks Studios. PPC operations also include Paramount Digital
 Entertainment, Paramount Home Entertainment, Paramount Pictures
 International, Paramount Licensing Inc., Paramount Studios and Worldwide
 Television Distribution.
     About DreamWorks Animation SKG
     DreamWorks Animation is principally devoted to developing and producing
 computer generated, or CG, animated feature films. With world-class
 creative talent, a strong and experienced management team and advanced CG
 filmmaking technology and techniques, DreamWorks Animation makes high
 quality CG animated films meant for a broad movie-going audience. The
 Company has theatrically released a total of fourteen animated feature
 films, including Antz, Shrek, Shrek 2, Shark Tale, Madagascar, Wallace &
 Gromit: The Curse of the Were-Rabbit, Over the Hedge, Flushed Away, and
 Shrek the Third. DreamWorks Animation's newest release, Bee Movie, opens in
 theaters November 2, 2007.

SOURCE Paramount Pictures; DreamWorks Animation