DreamWorks Animation Names Alex Schwartz Head of Development

GLENDALE, Calif., March 20 /PRNewswire-FirstCall/ -- DreamWorks Animation SKG, Inc. today announced that Alex Schwartz has been named Head of Development filling the position vacated by Kristine Belson, who will produce the studio's upcoming feature film with the working title, "Crood Awakening." Schwartz will oversee the development of all projects at DreamWorks Animation.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080320/LATH090)

"Alex is an exceptional and experienced executive with a proven track record. As we see the line between live action and animation continue to blur, we are eager to broaden our slate and bring new talent into the studio. Alex's excellent relationships across the board will help us move forward with this initiative. We are lucky to have her on our team" stated Co-President of Production Bill Damaschke. "Kristine's strong creative guidance on "Crood Awakening" made her a natural choice to produce this priority project. I look forward to working closely with her as it comes to fruition" he continued.

"It's truly thrilling for me to be working with such talented and passionate people at DreamWorks Animation. Bill inspires everyone to do their best work and being back with Jeffrey Katzenberg is very exciting" said Schwartz.

Schwartz began her entertainment career in 1990 at Walt Disney Studios' Touchstone Pictures, where she oversaw such titles as "What's Love Got to Do With It," "Sister Act," "Romy and Michelle's High School Reunion" and "Rushmore." She departed the studio in 1998 with the title of Senior Vice President. After a two-year stint as Head of Production at Bel Air Entertainment, where her film credits included "Rockstar" and "Pay It Forward," Schwartz relocated to New York, where she joined filmed family entertainment company Walden Media in 2001. As Walden's Executive Vice President in charge of overseeing the creative group, Schwartz personally produced and managed numerous projects, including "Holes," "Because of Winn-Dixie," "Charlotte's Web" and "Bridge to Terabithia," as well as several upcoming feature films: "Nim's Island," starring Jodie Foster and Abigail Breslin; "Journey 3D to the Center of the Earth," starring Brendan Fraser and "City of Ember," with Bill Murray.

After attending Boston University and earning a Masters degree in journalism from NYU, Schwartz began working in documentary production.

In her new position, Schwartz will directly report to Bill Damaschke. About DreamWorks Animation SKG

DreamWorks Animation is principally devoted to developing and producing computer generated, or CG, animated feature films. With world-class creative talent, a strong and experienced management team and advanced CG filmmaking technology and techniques, DreamWorks Animation makes high quality CG animated films meant for a broad movie-going audience. The Company has theatrically released a total of fifteen animated feature films, including "Antz," "Shrek," "Shrek 2," "Shark Tale," "Madagascar," "Wallace & Gromit: The Curse of the Were-Rabbit," "Over the Hedge," "Flushed Away," "Shrek the Third" and "Bee Movie." DreamWorks Animation's newest release, "Kung Fu Panda," opens in theaters June 6, 2008.

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This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.