DreamWorks Animation SKG Files Registration Statement for Follow-On Offering

DreamWorks Animation SKG Files Registration Statement for Follow-On Offering

GLENDALE, Calif., March 28 /PRNewswire-FirstCall/ -- DreamWorks Animation SKG, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission in preparation for a secondary offering of $500 million of shares of its Class A common stock. All shares will be offered to the public by current stockholders of DreamWorks Animation SKG, Inc. and therefore the company will not be issuing additional shares or receiving any proceeds from the offering.

The offering is currently anticipated to be completed sometime after May 27, 2005, following the release date of its next film, Madagascar. The timing and amount of the offering described in this announcement is subject to market conditions and other factors.

The selling stockholders in the offering will be limited to Paul Allen, Lee Entertainment and Vivendi Universal Entertainment (and their controlled entities). As a result, Steven Spielberg, David Geffen, and Jeffrey Katzenberg will not be selling shares or receiving proceeds from this offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. A copy of the prospectus relating to these securities may be obtained, when available, from:

DreamWorks Animation SKG, Inc.
Investor Relations
1000 Flower Street
Glendale, CA 91201
(818) 695-5000
ir@dreamworksanimation.com

Source: DreamWorks Animation SKG, Inc.

CONTACT: Investors, Rich Sullivan of DreamWorks Animation Investor
Relations, ir@dreamworksanimation.com; or Media, Jim Barron, or Carrie Bloom,
both of Citigate Sard Verbinnen, +1-212-687-8080, dwa@sardverb.com, for
DreamWorks Animation SKG

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