..Gary Dretzka
..Noah Forrest
..Leonard Klady
..R.J. Matson
..David Poland
..Douglas Pratt
..Ray Pride
..Michael Wilmington

July 11, 2005

For Immediate Release

ROBERT G. FRIEDMAN STEPS DOWN AS CHIEF OPERATING OFFICER
AND VICE CHAIRMAN OF MOTION PICTURE GROUP OF PARAMOUNT PICTURES

July 12, 2005 - Los Angeles, CA - Robert G. Friedman will be stepping down from his post as Chief Operating Officer and Vice Chairman of the Motion Picture Group of Paramount Pictures to pursue other interests, it was announced today by Paramount Chairman and CEO Brad Grey.

Friedman, who served as Vice Chairman of the Paramount Motion Picture Group since 1997 when he joined the studio, was subsequently named Chief Operating Officer in 2002. His responsibilities included oversight of all domestic and international marketing, publicity, and distribution operations at Paramount, as well as Paramount Home Entertainment and specialty division Paramount Classics.

"Rob has made many valuable contributions to Paramount's history. When he told me several months ago that he wanted to move on, I asked him to stay on and open "WAR OF THE WORLDS," he agreed, created a fantastic campaign, and the movie was Paramount's best opening ever. We thank him for his many years of dedication and hard work here at the studio and wish him the very best," said Grey.

"I have had a great experience here at Paramount, but I told Brad a few months ago that it was time for me to find new challenges. It has been gratifying to be a part of some of the studio's greatest successes and I am proud of the team I have built here. I am confident that I am leaving the company in very good hands," said Friedman.

Friedman will stay at Paramount through the release of two upcoming titles, "HUSTLE & FLOW," and "THE BAD NEWS BEARS." He will serve as a consultant on the remaining titles on the 2005 slate.

Friedman was involved in the domestic marketing and distribution of "TITANIC," the highest grossing film in history, as well as such Paramount hits as "LAURA CROFT: TOMB RAIDER," "WHAT WOMEN WANT," "MISSION: IMPOSSIBLE 2," and "SAVE THE LAST DANCE." His departure comes on the heels of a string of successful openings: "LEMONY SNICKET'S A SERIES OF UNFORTUNATE EVENTS," "COACH CARTER," "SAHARA, " "THE LONGEST YARD," and "WAR OF THE WORLDS." He spearheaded the creation of the studio's Classics division that has released critical favorites such as "YOU CAN COUNT ON ME," "VIRGIN SUICIDES," and recently "MAD HOT BALLROOM." He testified on behalf of
Paramount at the Federal Trade Commission hearings in Washington on the marketing of violence to children and helped design the industry's guidelines.

Friedman began his career in the mailroom at Warner Bros., where he worked his way up through the ranks for over 25 years there. He was responsible for many successful campaigns, including the "BATMAN," series, the "LETHAL WEAPON" films, "THE BRIDGES OF MADISON COUNTY," and the Oscar-winning "DRIVING MISS DAISY," "CHARIOTS OF FIRE," and "UNFORGIVEN." He left as President of Worldwide Marketing in 1997.

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