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Daniel Taylor to Resign President's Post at MGM

Daniel Taylor is stepping down from his post as president of Metro-Goldwyn-Mayer Inc. (MGM), as of Jan. 31, 2006, having completed the first phase of MGM's transition to its new business model as well as restructuring MGM's operations.

"Dan Taylor has done an excellent job in overseeing one of the most complex transactions ever completed by a Hollywood studio," said Harry E. Sloan, chairman/ceo of MGM. "Also, after the sale of MGM, Dan was successful in planning the implementation of the structural transition of our business operations, which was an incredibly difficult process. He has given us a clean slate to build a powerful content-driven, entertainment concern."

"MGM has been a home to me and I feel privileged to have played a key role in overseeing this important assignment," said Taylor. "I enjoyed the challenge of overseeing the transitional effort as well as restructuring all of MGM's operations. I am proud that MGM is now in a position to be a competitive player in the new media landscape."

A 15-year veteran of MGM, Taylor was instrumental in the structuring and consummation of the sale of MGM to the consortium in April 2005. Upon completion of the sale, Taylor assumed his new duties as president of MGM. Taylor oversaw 25 operating teams that evaluated every business line of the studio, which involved the coordination and cooperation of more than 1,000 executives. During the process, Taylor was also in charge of the management of 50-plus information systems and real estate on four continents.

Taylor first joined MGM in 1985 as vp, where he ultimately participated in the consummation of the sale of the company in 1990 and left shortly thereafter. Taylor rejoined MGM in August of 1997 as evp, finance and was promoted to sevp/cfo in June 1998.

During his tenure, Taylor took on a variety of financial assignments, including the structuring of the acquisition financing when Tracinda Corp. and Seven Network purchased MGM in 1996. Subsequently, Taylor helped to take the company public in the fall of 1997 and was the lead in refinancing the company's bank debt, providing additional capital for the acquisition of library assets and expansion of MGM's businesses.

MGM (www.mgm.com) is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music and licensed merchandise. The company owns the world's largest library of modern films, comprising around 4,000 titles. Operating units including Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Ent. Inc., MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Mayer-Goldwyn Home Ent. Llc., MGM on Stage, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 110 countries. MGM ownership is currently as follows: Providence Equity Partners (29%), Texas Pacific Group (21%), Sony (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%).