Toby Nelson Named Senior Vice President and Treasurer for Post-Separation Viacom

Toby Nelson Named Senior Vice President and Treasurer for Post-Separation Viacom

NEW YORK, Dec. 21 /PRNewswire-FirstCall/ -- Viacom Inc. (NYSE:VIA)(NYSE:and VIA.B) announced today that George (Toby) Nelson has been appointed Senior Vice President and Treasurer for new Viacom, following the separation of the organization into two publicly traded companies, which is expected to be completed by the end of 2005.

Mr. Nelson will be responsible for domestic and international capital market activities, banking services, foreign exchange and employee benefit plan asset management for the Company. He reports to Michael J. Dolan, Executive Vice President and Chief Financial Officer of Viacom.

"Toby's longstanding affiliation with Viacom and deep understanding of our businesses make him an important asset to the new Viacom team," said Mr. Dolan. "We will be relying on his corporate finance experience and extensive capital markets expertise as he helps new Viacom begin its life as a separate publicly traded company. I've had the pleasure of working with Toby since I joined Viacom this past April, and I'm excited that new Viacom will continue to benefit from his knowledge, skills and leadership abilities."

Mr. Nelson moves into his new function from his previously held position as Vice President and Assistant Treasurer at Viacom, a role he assumed in July 1997. Mr. Nelson joined Viacom in 1994 as Assistant Treasurer, following the Company's merger with Paramount Communications Inc. Before joining Viacom, he served as Assistant Treasurer of Paramount from 1990 to 1994 and as Director of Corporate Finance of Gulf+Western from 1988 to 1990.

Mr. Nelson received a B.A. from Princeton University and an M.B.A. from the Wharton School of the University of Pennsylvania.

Viacom is a leading global media company, with preeminent positions in broadcast and cable television, radio, outdoor advertising, and online. With programming that appeals to audiences in every demographic category across virtually all media, the Company is a leader in the creation, promotion, and distribution of entertainment, news, sports, music, and comedy. Viacom's well-known brands include CBS, MTV, Nickelodeon, Nick at Nite, VH1, BET, Paramount Pictures, Infinity Broadcasting, Viacom Outdoor, UPN, TV Land, Comedy Central, CMT: Country Music Television, King World, Spike TV, Showtime, Paramount Parks, and Simon & Schuster. More information about Viacom and its businesses is available at www.viacom.com.

Earlier this year, the Company announced it would be separating its businesses into two publicly traded companies, and expects the transaction to be completed by the end of 2005. The new Viacom will own MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land and many other networks around the world), BET, Paramount Pictures, Paramount Home Entertainment and Famous Music. CBS Corporation will own the CBS Television Network, UPN, Infinity Broadcasting, Viacom Outdoor, Viacom Television Stations Group, Paramount Television, King World, Simon & Schuster, Showtime and Paramount Parks.

Source: Viacom Inc.

CONTACT: Carole Robinson, +1-212-258-8760, carole.robinson@mtvstaff.com,
or Jeanine Liburd, +1-212-258-7437, jeanine.liburd@mtvstaff.com, both for
Viacom Inc.

Web site: http://www.viacom.com/

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