DreamWorks Head of Production Adam Goodman stated, "Steven and everyone at DreamWorks are very excited about the prospect of expanding the world of TRANSFORMERS into the live-action feature film arena. The possibilities for a thrilling action adventure are virtually endless, and a film holds the definite promise of expanding an already worldwide fan base to new audiences."

"This is a tremendous franchise that offers us the opportunity to create an inventive and thrilling action-adventure film," said Donald De Line, Vice Chairman, Motion Picture Group and President of Paramount Pictures. "We're happy to work with our colleagues at DreamWorks to develop this project with Hasbro. There couldn't be a better team to bring the TRANSFORMERS to the big screen."

"We are truly fortunate to have the best talent in the entertainment industry on board for the TRANSFORMERS movie and are excited at the opportunities this powerful collaboration will bring to the property," said Brian Goldner, President of Hasbro's toys segment. "The TRANSFORMERS franchise has been successful in many entertainment arenas and we are thrilled to give millions of fans an extraordinary experience that's never been done in the history of the brand."

Hasbro will work with the production team, DreamWorks and Paramount on all aspects of the film's creative development, marketing, promotions and will manage merchandising in conjunction with the release of the film. Hasbro will also team up with Takara, who has been the co-developer of the TRANSFORMERS brand since its beginning in the early 1980s.

"The TRANSFORMERS brand has always struck a chord with fans around the world and remains one of our strongest franchises since it was introduced 20 years ago," said Keita Satoh, President and Chief Executive Officer of Takara. "Together with Hasbro, DreamWorks and Paramount, we will bring the property to a new level for fans in the Japanese market, as well as around the world."

DreamWorks will distribute the film domestically, while Paramount will distribute internationally.

In 1984, the TRANSFORMERS brand took the world by storm with its compelling saga of the ROBOTS IN DISGUISE, and quickly became a childhood rite of passage with a tremendously successful toy line from Hasbro and Takara, comic book series, television program and animated feature film. Twenty years later, a new generation of kids has discovered the excitement of the TRANSFORMERS brand and the legendary characters, such as OPTIMUS PRIME and MEGATRON, that truly are "more than meets the eye." Today, the franchise features a popular toy line, an animated series on Cartoon Network and a chart-topping comic book series from Dreamwave Productions, which sold two million TRANSFORMERS comic books last year.

Hasbro (NYSE:HAS) is a worldwide leader in children's and family leisure time entertainment products and services, including the design, manufacture and marketing of games and toys, such as MONOPOLY and G.I. JOE, ranging from traditional to high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, TIGER, and WIZARDS OF THE COAST brands and products provide the highest quality and most recognizable play experiences in the world.

DreamWorks SKG was formed in October, 1994, by its three principal partners -- Steven Spielberg, Jeffrey Katzenberg and David Geffen -- to produce live-action motion pictures; animated feature films; network and cable television programming; home video entertainment; books; toys; and consumer products.

Paramount Pictures is part of the entertainment operations of Viacom, Inc., one of the world's largest entertainment and media companies and a leader in the production, promotion and distribution of entertainment, news, sports and music.

Creative Artists Agency represents Hasbro and Steven Spielberg.

Creative Artists Agency is a talent and literary agency with offices in Beverly Hills, Nashville and New York City. CAA represents the most creative and successful artists working in film, television, music, theatre, and video games, and provides a range of strategic marketing services to corporate clients. The agency serves as the access point through which artists, consumers and global brands intersect to create, acquire and sell entertainment properties, and to enrich entertainment and brand experiences. CAA has an equity relationship with Shepardson, Stern and Kaminsky, a strategic communications consulting firm. Youth Intelligence, a youth market research and trend forecasting company, is a division of CAA.