Paramount and DreamWorks Animation Each Declare Exclusive Support for HD DVD

Los Angeles (ots/PRNewswire) -

- 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 US$1.5 Billion in Combined Worldwide Box Office

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 US$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 Paramount."

"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.

ots Originaltext: Paramount Pictures; DreamWorks Animation
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Mary Kincaid of Paramount Home Entertainment, +1-323-956-3653,
Mary_Kincaid@Paramount.com; or Rich Sullivan of DreamWorks Animation
Investor Relations, +1-818-695-3900, ir@dreamworksanimation.com; or
Dane Estes of Weber Shandwick, +1-425-452-5486,
Dane.estes@webershandwick.com, for the HD DVD Promotional Group