Getty Images Announces Execution of Supplemental Indenture

SEATTLE--(Business Wire)--
Getty Images, Inc. today announced that, in connection with its
merger with an affiliate of Hellman & Friedman LLC that was completed
on July 2, 2008, Getty Images entered into a supplemental indenture
governing its 0.5% Convertible Subordinated Debentures, Series B due
2023 (the "Debentures") that entitled holders of the Debentures to
convert their Debentures from and after the effective date of the
merger.

Subject to the terms of the indenture, the holder of a Debenture
may surrender it for conversion in integral multiples of $1,000
principal amount from and after July 2, 2008 into $556.65 per $1,000
principal amount of Debentures, representing the amount of cash
consideration received in the merger by holders of common stock
holding, immediately prior to the effective time of the merger, a
number of shares of common stock equal to the conversion rate
immediately prior to the merger.

The merger constituted a "Fundamental Change" under the indenture
governing the Debentures. Holders of the Debentures (which have not
been converted) will therefore also have the right to require Getty
Images to purchase their Debentures on the 35th business day after the
merger for a purchase price equal to the principal amount of such
Debentures plus any accrued and unpaid interest to but not including
the purchase date.

Additional Information and Where to Find It

Getty Images filed the indenture governing its 0.5% Convertible
Subordinated Debentures, Series B due 2023 with the Securities and
Exchange Commission on March 10, 2006, as an exhibit to its amended
Annual Report on Form 10-K for the fiscal year ended December 31,
2005. In connection with the merger, Getty Images filed a proxy
statement with the Securities and Exchange Commission on May 22, 2008
under the New York Stock Exchange symbol GYI. Investors and security
holders may obtain a free copy of the indenture, the proxy statement
and other documents filed by Getty Images, without charge, by written
or telephonic request directed to Getty Images, Inc., 601 North 34th
Street, Seattle, Washington 98103, attn: Jeffrey Dunn, telephone (206)
925-6535, or on our website at http://www.gettyimages.com or from the
Securities and Exchange Commission through the Securities and Exchange
Commission's website at http://www.sec.gov.

About Getty Images

Getty Images is the world's leading creator and distributor of
still imagery, footage and multimedia products, as well as a
recognized provider of other forms of premium digital content,
including music. Getty Images serves business customers in more than
100 countries and is the first place creative and media professionals
turn to discover, purchase and manage images and other digital
content. Its award-winning photographers and imagery help customers
produce inspiring work which appears every day in the world's most
influential newspapers, magazines, advertising campaigns, films,
television programs, books and Web sites. Visit Getty Images at
http://www.GettyImages.com to learn more about how the company is
advancing the unique role of digital media communications and
business, and enabling creative ideas to come to life.

This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995,
which involve significant risks and uncertainties. All statements
other than statements of historical fact are statements that could be
deemed forward-looking statements. Investors and security holders are
cautioned not to place undue reliance on these forward-looking
statements. Actual results could differ materially from those
currently anticipated due to a number of risks and uncertainties.
Getty Images does not undertake any obligation to update any
forward-looking statements as a result of new information, future
developments or otherwise, except as required by law.

The information contained in this press release is neither an
offer to purchase nor a solicitation to sell securities of Getty
Images.

Getty Images, Inc.
Investors:
SVP and Chief Financial Officer
Jeffrey Dunn, 206-925-6535
jeffrey.dunn@gettyimages.com
or
Media:
Senior Director, Communications
Bridget Russel, 206-925-6405
bridget.russel@gettyimages.com

Copyright Business Wire 2008