DreamWorks Animation SKG Files Follow-On Offering

files/pictures/picture-35.jpgDreamWorks Animation SKG Inc. announced it has filed a registration statement with the Securities and Exchange Commission in preparation for a secondary offering of $500 million of shares of its Class A common stock. All shares will be offered to the public by current stockholders of DreamWorks Animation SKG Inc. and therefore the company will not be issuing additional shares or receiving any proceeds from the offering.

The offering is expected to be completed sometime after May 27, 2005, following the release date of its next film, MADAGASCAR. The timing and amount of the offering is subject to market conditions and other factors.

The selling stockholders in the offering will be limited to Paul Allen, Lee Ent. and Vivendi Universal Ent. (and their controlled entities). As a result, Steven Spielberg, David Geffen and Jeffrey Katzenberg will not be selling shares or receiving proceeds from this offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.