MGM-Branded Attraction Set for China Launch

SHANGHAI,
May 18: Metro-Goldwyn-Mayer Studios has signed a deal that will see the
development and construction of MGM Studio World, a lifestyle center in
Shanghai, China, built around the MGM brand and its intellectual properties.

The
agreement is with Hong Kong’s Tengxun Entertainment and Management, with the
participation of Shanghai Tianhong Real Estate Investment. With total
investment of up to RMB1.2 billion ($156.5 million), Tianhong will be the
developer and constructor and Tengxun is a project manager and responsible for
the business operation after completion. MGM will not make any financial
investments in the project or operate it, but will serve as the licensor and
creative collaborator for the entire project.

MGM
Studio World will be located in the Changfeng Ecological Business District, in
the southern part of Putuo District in Shanghai. It will be an indoor venue
combining dining, retailing, nighttime venues and entertainment in a space of
approximately 200,000 square feet. The destination is slated to be unveiled in
the summer of 2010 to coincide with the World’s Fair Expo in Shanghai.

In
making the announcement, Harry E. Sloan, chairman and CEO of MGM stated: “We
are placing the MGM brand in China in a big way. Given our studio’s rich history, MGM is synonymous with
Hollywood and we are excited to bring this experience to consumers in Shanghai,
which is one of the most dynamic cities in the world. MGM Studio World is the
first step in bridging traditional Hollywood entertainment with China’s film
and television industry in the region. We are looking forward to utilizing this
project as a way to build strong partnerships with China in the future.”