DreamWorks Studios Closes First Phase of Funding for New Studio with Partner, the Reliance Anil Dhirubhai Ambani Group

LOS ANGELES--(Business Wire)--
Anil Dhirubhai Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, the
parent company of Reliance Big Entertainment and Reliance BIG Pictures along
with Steven Spielberg and Stacey Snider, the principal partners of DreamWorks
Studios jointly announced today the completion of the first phase of funding for
their new motion picture company, based in Los Angeles, California. They further
announced that J.P. Morgan Securities arranged the syndication of approximately
$325 million of senior debt which Reliance Big Entertainment is matching with
its equity commitment. The Walt Disney Studios, who will handle marketing and
distribution for the studio, will also extend a loan to DreamWorks as part of
the distribution deal.

The debt financing was led by J.P. Morgan, who brought together other lenders to
set-up DreamWorks with its first wave of funds. Participants include: Bank of
America, City National Bank, Wells Fargo, Comerica, Union Bank of California,
SunTrust, California Bank & Trust, and Israel Discount Bank.

Anil Ambani said: "Our partnership with Stacey and Steven is the cornerstone of
our Hollywood strategy as we grow our film interests across the globe. Given our
faith in the business plan that they presented to us and despite the current
economic climate, we were always confident that this day would come. Now Stacey
and Steven can focus on producing more of the great films for which they are
renowned."

"This will allow us to move ahead quickly into production with our first group
of films," said Stacey Snider and Steven Spielberg in a joint statement. "We
wish to thank Anil personally for his foresight and fortitude over the past
months. We congratulate J.P. Morgan for their leadership in attracting this
funding during today`s most challenging financial environment. Our thanks also
to our distribution partner Disney who we look forward to working with in
getting our movies out to the global audience."

Joining Stacey Snider and Steven Spielberg on DreamWorks` Board of Directors on
behalf of the Reliance ADA Group are Amitabh Jhunjhunwala, Vice Chairman,
Reliance Capital, and J.P. Morgan`s Alan J. Levine.

Alan J. Levine of J.P. Morgan Entertainment Advisors led the Reliance team in
structuring the capital and business plan for the company. Schuyler Moore at
Stroock & Stroock & Lavan was Reliance`s counsel. DreamWorks was advised by Skip
Brittenham at Ziffren Brittenham LLP, Bruce Ramer and Harold Brown at Gang,
Tyre, Ramer & Brown, and Cravath, Swaine & Moore. John Miller and David Shaheen
at J.P. Morgan Securities led the senior debt syndication.

"It took great dedication over many months to turn our vision for this company
into a reality," said Jeff Small, President and Chief Operating Officer of
DreamWorks Studios. "The time spent by everyone navigating the changing economic
waters allowed us to make the most responsible deal for DreamWorks and ensure
that our partnership with Reliance, from the very beginning, was built on solid
ground. We appreciate the faith our bank group has in our business plan and look
forward to a long and fruitful relationship with them."

DreamWorks has a long-term distribution deal with The Walt Disney Studios which
will market and distribute approximately six live-action films a year for the
company, except for India where Reliance Big Entertainment will retain
distribution rights. The first release under Disney`s Touchstone banner is
expected in 2010.

About Reliance ADA Group

The Reliance Anil Dhirubhai Ambani Group currently has a market capitalization
of over Rs. 1,80,000 crore (US$ 38 billion), net worth in excess of Rs. 64,000
crore (US$ 13 billion), cash flows of Rs. 13,000 crore (US$ 3 billion) and net
profit of Rs. 8,300 crore (US$ 2 billion).

Reliance-ADA Group has interests in varied sectors ranging from communications
(Reliance Communications), financial services (Reliance Capital Ltd), power
generation, transmission and distribution (Reliance Energy), natural resources
(Reliance Natural Resources), infrastructure, media & entertainment and health
care.

Across different companies, the group has a customer base of over 100 million,
the largest in India, and a shareholder base of over 12 million, the largest in
the world.

The Reliance ADA Group has a business presence that extends to over 20,000 towns
and 450,000 villages in India, and 5 continents across the world.

Reliance BIG Entertainment

Reliance BIG Entertainment Ltd. (RBEL) (www.rbe.co.in) is the flagship media and
entertainment arm of Indian conglomerate, Reliance Anil Dhirubhai Ambani Group
(R-ADAG), (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 already (prior to the DreamWorks deal) 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 Hank's Playtone Productions,
Brad Pitt's Plan B Entertainment, Jay Roach's Everyman Pictures, Brett Ratner's
Rat Entertainment and Julia Roberts' Red Om Films.

About DreamWorks Studios

DreamWorks Studios (www.dreamworksstudios.com) is a new motion picture company
led by Steven Spielberg and Stacey Snider in partnership with The Reliance Anil
Dhirubhai Ambani Group. 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" (both 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).

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For more information please contact:
DDA PR for Reliance ADA:
Dennis Davidson / Dana Archer
020 7932 9800 / 310-205-4868
Dennis.Davidson@ddapr.com / Dana.Archer@ddapr.com
or
For DreamWorks Studios:
Chip Sullivan
+1-818-733-6448
Chip_Sullivan@dreamworksstudios.com

Copyright Business Wire 2009