The Walt Disney Studios Enters Exclusive Long-Term Distribution Agreement With DreamWorks Studios

BURBANK, Calif., Feb. 9 /PRNewswire/ — The Walt Disney Studios has agreed
to enter into an exclusive long-term distribution arrangement with filmmaker
and DreamWorks Studios co-founder Steven Spielberg, and partner Stacey Snider,
chief executive officer of DreamWorks, to distribute all upcoming live-action
motion pictures produced by DreamWorks under their partnership with Reliance
BIG Entertainment, part of The Reliance Anil Dhirubhai Ambani Group, it was
announced today by Dick Cook, chairman of The Walt Disney Studios.

Under the terms of this arrangement, Disney will handle distribution and
marketing for approximately six DreamWorks films each year. The first
DreamWorks motion picture to be released under the Touchstone Pictures banner
is scheduled to hit theaters in 2010.

DreamWorks principals Spielberg and Snider partnered with Reliance BIG
Entertainment last fall to form a new motion picture company. In addition to
being a partner in DreamWorks, Reliance will also distribute the new company’s
projects in India.

Commenting on the announcement, Cook said, "We’re both thrilled and
honored to be marketing and distributing all of DreamWorks’ signature upcoming
live-action motion pictures, and to begin a new relationship with such
respected colleagues as Steven, Stacey, and their creative team at DreamWorks.
Steven has made some of the biggest and most loved films of all-time, and
continues to be one of the great icons of our industry. Stacey has an
impeccable reputation and a phenomenal track record for making a wide variety
of quality films. Their motion pictures will be the perfect complement to the
already robust slate of Disney and Touchstone films being made by Oren Aviv and his team."

Bob Iger, president and CEO, The Walt Disney Company, added, "We are
tremendously pleased to join forces with Steven Spielberg, whose artistic
vision and commitment to quality filmmaking are legendary. DreamWorks has had
a great creative and commercial track record under the leadership of Steven
and Stacey Snider and I am delighted they’re now associated with Disney."

Steven Spielberg said, "Disney is the birthplace of imagination and has
always been as close to the worldwide audience as any company ever has. I am
so pleased that industry leaders like Bob Iger and Dick Cook reached out to
become our distribution partner. This is a major step forward for us and
Reliance."

Stacey Snider added, "Under Bob Iger and Dick Cook’s leadership, The Walt
Disney Company represents the highest standard of quality in our industry.
Everyone at DreamWorks is thrilled to be embarking upon this new and exciting
partnership and we look forward to our future with their great team."

About The Walt Disney Studios

The Walt Disney Studios is a unit of The Walt Disney Company (NYSE: DIS)
and produces and distributes motion pictures under the following banners: Walt
Disney Pictures(which include live-action movies, animated feature films from
Walt Disney Animation Studios and Pixar Animation Studios) as well as
Touchstone Pictures, Hollywood Pictures and Miramax Films. Walt Disney
Studios Motion Pictures International serves as the Studio’s international
distribution arm. Walt Disney Studios Home Entertainment distributes Disney
and other film titles to the rental and sell-through home entertainment
markets. Disney Theatrical Group is among the world’s most successful
commercial theatre enterprises producing or licensing live entertainment
events that reach a global annual audience of more than 20 million people in
more than 40 countries, and the Disney Music Group distributes original music
and motion picture soundtracks under its three record labels: Walt Disney
Records, Hollywood Records and Lyric Street Records.

About DreamWorks Studios

Steven Spielberg and Stacey Snider and The Reliance Anil Dhirubhai Ambani
Group announced the formation of a new motion picture company which will be
led by Spielberg and Snider. The new company is a continuation of DreamWorks
Studios which was formed in 1994 by Steven Spielberg, Jeffrey Katzenberg, and

David Geffen. The company won three consecutive Best Picture Academy Awards
with "American Beauty," "Gladiator," and "A Beautiful Mind" (co-produced with
Universal). Among the company’s other successes have been such films as
"Saving Private Ryan" (co-produced with Paramount), "The Ring," "Minority
Report" (co-produced with 20th Century Fox), "War of the Worlds,"
"Dreamgirls," and "Transformers" (all co-produced with Paramount). Snider
joined DreamWorks Studios in 2006 as Co-Chairman and CEO. Snider has overseen
the company’s business strategy as well as the creative and financial aspects
of all film development and production.

About Reliance BIG Entertainment

Reliance BIG Entertainment Ltd. (RBEL) (http://www.rbe.co.in) is the
flagship media and entertainment arm of Indian conglomerate, Reliance Anil
Dhirubhai Ambani Group (R-ADAG), (http://www.relianceada.com) with significant
presence in film entertainment (film production, distribution, and
exhibition), broadcasting and new media ventures.

With investments over USD 1 billion in its Filmed Entertainment business
RBEL’s motion picture brand BIG Pictures has built a formidable film
production slate in Hindi, English & other Indian languages, which it markets
& distributes worldwide.

In Hollywood, BIG Pictures has development silos with Nicolas Cage’s Saturn Productions, Jim Carrey’s JC 23 Entertainment, George Clooney’s Smokehouse Productions, Chris Columbus’ 1492 Pictures, Tom Hanks’ Playtone
Productions, Brad Pitt’s Plan B Entertainment, Jay Roach’s Everyman Pictures,

Brett Ratner’s Rat Entertainment and Julia Roberts’ Red Om Films.

SOURCE The Walt Disney Studios