Press Release from Paramount Pictures

HOLLYWOOD, Calif., -- Paramount Pictures announced today that it is making "Mission Impossible IV." The film, which will be produced by Tom Cruise, J.J. Abrams and Bad Robot Productions and will star Cruise, will be released Memorial Day weekend 2011.

"Tom and J.J. are great talents and we are excited to be working with them to re-launch this legendary franchise," said Paramount Pictures Chairman & CEO, Brad Grey.

Screenwriters Josh Applebaum and Andre Nemec are attached to write the script, from an original idea by Cruise and Abrams.

The studio, Cruise and Abrams are now in the process of identifying a director for the film.

Abrams's last project with Paramount was "Star Trek," which he produced and directed. The film grossed $385 million globally.  Cruise's "Mission Impossible" franchise has grossed over 1.4 billion globally.

"Mission Impossible IV" will be co-financed by David Ellison's Skydance Productions.

Cruise is represented by CAA. Abrams, Applebaum and Nemec are represented by WME.

About Paramount Pictures Corporation

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE:VIA)(NYSE:VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands.  The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films and Nickelodeon Movies.  PPC operations also include Paramount Digital Entertainment, Paramount Famous Productions, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television Distribution.