Joint Statement From Metro-Goldwyn-Mayer Studios Inc. (MGM) and United Artists Entertainment LLC (UA)

LOS ANGELES, Aug. 13 /PRNewswire/ — Paula Wagner, Chief Executive Officer of UA, has decided to leave her day-to-day responsibilities and return to her first love, which is producing films. As such, MGM and UA confirmed today that Ms. Wagner will transition to the role of a producer under her own independent production shingle and be attached to UA’s most exciting film properties. In November 2006, United Artists was reborn under a partnership formed between Tom Cruise, Ms. Wagner and MGM. Ms. Wagner will continue to be a part owner of UA and hold a significant stake in UA’s future success. Nothing will change in regard to Mr. Cruise’s involvement with UA and he continues to have a substantial ownership interest in the company. Furthermore, Mr. Cruise and Ms. Wagner will continue to work on film projects together.

   (Logo: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGO)    About United Artists  

United Artists Entertainment LLC was formed in November 2006 under a partnership between Tom Cruise, Paula Wagner, and Metro-Goldwyn-Mayer Studios Inc. (MGM), with Wagner serving as Chief Executive Officer. The historic United Artists brand was initially founded some 85 years ago by movie greats Douglas Fairbanks, Charlie Chaplin, Mary Pickford, and D.W. Griffith and, throughout its history, has appeared on such iconic film franchises as Rocky, The Pink Panther, and James Bond.

About Metro-Goldwyn-Mayer Studios Inc.

Metro-Goldwyn-Mayer Studios Inc. is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music, and licensed merchandise. The company owns the world’s largest library of modern films, comprising around 4,000 titles. Operating units include Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Entertainment Inc., MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 110 countries. MGM ownership is currently as follows: Providence Equity Partners (29%), TPG (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit http://www.mgm.com/.

    Contact:     Jeff Pryor    Executive Vice President/Corporate Communications    MGM    (310) 449-3446   

SOURCE United Artists; Metro-Goldwyn-Mayer Studios Inc.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20011119/MGMLOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com

CONTACT: Jeff Pryor, Executive Vice President|Corporate Communicationsof MGM, +1-310-449-3446

Web site: http://www.mgm.com/