UNIVERSAL PICTURES PROMOTES TRIO OF EXECUTIVES IN RESTRUCTURE OF SENIOR MANAGEMENT TEAM

UNIVERSAL PICTURES PROMOTES TRIO OF EXECUTIVES IN RESTRUCTURE OF SENIOR MANAGEMENT TEAM

Rick Finkelstein, Jimmy Horowitz and Michael Joe Promoted to New Positions Reporting to Marc Shmuger and David Linde

LOS ANGELES, July 17 /PRNewswire/ -- As Universal Pictures moves forward under the leadership of Chairman Marc Shmuger and Co-Chairman David Linde, the company today announced promotions of three veteran Universal executives to newly created senior positions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060316/LATH064LOGO )

In this restructure, Rick Finkelstein has been promoted to Vice Chairman, Universal Pictures and Executive Vice President, Universal Studios; Jimmy Horowitz has been promoted to Co-President, Production, and Executive Vice President, Universal Pictures; and Michael Joe has been promoted to Executive Vice President, Universal Pictures. The three executives have entered into new long-term contracts with Universal, and they will continue to be based at the company's Universal City headquarters.

Said Shmuger and Linde, "Having Rick, Jimmy and MJ in these key business and strategy positions lays the foundation for us to build the future at Universal. These three executives exemplify the best of the culture of Universal, and they have all the skills you want in a senior management team. They are regarded and respected inside the company and throughout the industry, and we are very fortunate that their vast knowledge and depth of experience will continue to benefit all of us at Universal."

As Vice Chairman, Universal Pictures and Executive Vice President, Universal Studios, Rick Finkelstein will join the Office of the Chairmen and in addition will oversee special projects for Ron Meyer, President and Chief Operating Officer, Universal Studios. Finkelstein will continue to direct the revenue activities associated with Universal Studios Home Entertainment, Universal Pictures International Home Video and NBC Universal International Television Distribution. He will also be joining Meyer in representing Universal as a member of the Board of Directors of the Motion Picture Association of America. Universal Studios Home Entertainment President Craig Kornblau and Universal Pictures International Home Video President Peter Smith will continue to report to Finkelstein. NBC Universal International Television Distribution President Belinda Menendez will continue to report jointly to Finkelstein and NBC Universal Cable and Domestic TV and New Media Distribution President David Zaslav.

As Co-President, Production, and Executive Vice President, Universal Pictures, Jimmy Horowitz will now oversee all non-creative aspects of production from inception to delivery. Donna Langley and Jon Gordon will continue to oversee all development and creative aspects of production in their positions of Presidents, Production. Horowitz, who will report jointly to Shmuger and Linde, will now assume responsibility for physical production and post-production and will continue to have oversight of Universal's business and legal affairs, including talent negotiations, co- productions and third party distribution arrangements. Horowitz will also assume overall responsibility for Universal's growing original and adapted theatrical stage production business around the world.

As Executive Vice President, Universal Pictures, Michael Joe will serve as the company's chief strategy officer. He will continue to oversee business development and will now direct the company's windows strategy and digital initiatives, including wireless, interactive games and d-cinema. He will work closely on Universal's digital initiatives with NBC Universal Digital Media and Market Development President Beth Comstock. As Universal continues to explore growth of its international businesses, Joe will take on additional duties, including the company's entry into new markets and new technologies. Joe will also represent Universal Pictures on anti-piracy, public policy and MPAA matters, and will continue to manage Universal's advanced technology group, which he has overseen since January 2005. He will report jointly to Shmuger and Linde.

Prior to these announcements, Finkelstein had served as President and Chief Operating Officer, Universal Pictures; Horowitz as Executive Vice President, Business and Legal Affairs, Universal Pictures; and Joe as Executive Vice President, Business Development and Strategic Planning.

Finkelstein was named President of Universal Pictures in November 1999, and Chief Operating Officer in December 2000, having previously served as Senior Vice President, Corporate Development and Strategic Planning for Universal Studios since March 1999. Finkelstein joined Universal from PolyGram Filmed Entertainment (PFE), where he served as Executive Vice President and was responsible for overseeing the business and legal affairs, music and post-production departments. Prior to joining PFE, he was president of Nelson Films, and before that served as Executive Vice President of De Laurentiis Entertainment Group. From 1978 to 1986, Finkelstein practiced entertainment law with Mitchell, Silverberg & Krupp. Finkelstein currently serves on the Board of Directors of Movielink and Sundance Channel.

Horowitz was named Executive Vice President, Business and Legal Affairs for Universal Pictures, in January 2002, where he was responsible for the day-to-day operations of the business and legal affairs departments, in addition to overseeing all matters relating to Universal's term deals. He first joined Universal's feature legal department in 1992, and was named Senior Vice President, Business and Legal Affairs in October 1999. Prior to joining Universal, Horowitz was counsel for the Alliance of Motion Picture and Television Producers. He is a graduate of George Washington University Law School and Tulane University.

Joe was named Executive Vice President, business development and strategic planning, Universal Pictures in January 2005. In that position, he was responsible for worldwide new business development, strategy and advanced technology for Universal Pictures. Joe joined Universal Pictures as Vice President, business development and strategic planning in August 1999. He first came to Universal Studios in 1995 as part of its corporate development group. Joe currently serves on the Board of Directors of Movielink. He is a graduate of Stanford University.

Universal Pictures is a division of Universal Studios (www.universalstudios.com). Universal Studios is part of NBC Universal. NBC Universal is one of the world's leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. Formed in May 2004 through the combining of NBC and Vivendi, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060316/LATH064LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Universal Pictures

CONTACT: Paul Pflug, +1-323-658-1555, paul@pcommgroup.com, for Universal
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