Restructure at Universal Pictures

LOS ANGELES, July 18: A senior management restructure has
been announced at Universal Pictures under recently installed chairman Marc
Shmuger and co-chairman David Linde, with promotions for Rick Finkelstein,
Jimmy Horowitz and Michael Joe.

Rick Finkelstein has been promoted to vice chairman of
Universal Pictures and executive VP of Universal Studios from the previous role
of president and COO of Universal Pictures. He will join the Office of the
Chairmen and in addition will oversee special projects for Ron Meyer, president
and COO of Universal Studios. He will continue to direct the revenue activities
associated with Universal Studios Home Entertainment, Universal Pictures
International Home Video and NBC Universal International Television
Distribution. 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
David Zaslav, president of cable and domestic TV and new media distribution at
NBC Universal.

Jimmy Horowitz has been promoted to co-president of
production and executive VP of Universal Pictures from his previous role as EVP
of business affairs. He will now oversee all non-creative aspects of production
from inception to delivery. Reporting jointly to Shmuger and Linde, he 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.

Michael Joe has been upped to EVP of Universal Pictures from
business development and strategic planning EVP. 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 report jointly to Shmuger and Linde.