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September 24, 2007

THE MGM CHANNEL TO LAUNCH IN BULGARIA

MGM Networks Continues To Aggressively Roll-Out Channels Across High Growth Central And Eastern European Markets

SOFIA, BULGARIA AND LOS ANGELES 24th September, 2007 - MGM Networks, a division of Metro-Goldwyn-Mayer Studios Inc., has signed an agreement with Warburg Pincus-backed Eurocom, the largest cable operator in Bulgaria’s capital, Sofia, and one of the country’s major MSOs, to launch a local language version of The MGM Channel beginning next month. The deal marks the MGM Channel’s debut in Bulgaria. The announcement was made today by Bruce Tuchman, Executive Vice President, MGM Networks at Metro-Goldwyn-Mayer Studios Inc.

“MGM Networks has been on a roll across Central and Eastern Europe,” stated Tuchman. “Starting from scratch just a few years ago, we have built a vibrant collection of locally versioned MGM branded channels now reaching most of the countries in the region. We are very pleased to have Eurocom on board for our launch into Bulgaria, and we are excited to tap into further distribution opportunities as we move forward in this growing market and across the region.”

The MGM Channel will be included in Eurocom’s analog basic cable package, and will be subtitled into Bulgarian. Like MGM channels across the region, the channel will feature a wide selection of titles from the MGM movie catalog, the world’s largest modern film library.

“We are very excited to extend our programming with MGM channel and we are proud to provide high quality movies from the famous entertainment company”, said Petyo Staikov from Eurocom Cable.

The MGM Channel’s launch in Bulgaria is another key development in an aggressive and successful expansion drive for the network across Central and Eastern Europe. Starting with the launch in late 2004 of a 100%-owned Russian language service on leading Russian DTH platform, NTV Plus, MGM branded channels have launched across the former eastern block, including debuts last year of locally versioned channels now reaching several million subscribers across Hungary, the Czech Republic, Slovakia and Romania (through a joint venture with Liberty Global’s chellomedia division), as well as a High Definition version of the MGM Channel in Poland through a partnership with leading Polish media company, ITI. The MGM Channel in Bulgaria will be owned 100% by MGM. In addition, MGM Channels are available in a multitude of markets across Western Europe, Latin America, the Mid-East, Africa, Asia and the Pacific Rim, and continue to expand aggressively along with their sister channels in Central and Eastern Europe.

About MGM Networks
MGM Networks manages Metro-Goldwyn-Mayer Studios Inc.’s interests in MGM-branded networks, Hollywood film studio joint venture channels and other programming services spanning scores of markets across Europe, North and South America, Asia, Oceana and Africa. For more information, visit www.mgmchannel.com.

About Metro-Goldwyn-Mayer Inc.
Metro-Goldwyn-Mayer Inc., through its operating subsidiaries 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 4,100 titles. Operating units including Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., Ventanazul, MGM Television Entertainment Inc., MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching approximately 120 countries and territories around the world. MGM ownership is currently as follows: Providence Equity Partners (29%), Texas Pacific Group (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit www.mgmchannel.com

About Eurocom Cable Management Bulgaria
Eurocom is one of the biggest cable operators in Bulgaria. It operates the nation's biggest metropolitan coaxial/optical network with full coverage in Sofia, Plovdiv and Pleven. The firm offers a great variety of services, which include cable TV, digital TV, cable Internet, HBO Maxpak, and video on demand. Eurocom has also added the voice service to the bundle of data and TV that it already offers to subscribers and successfully joins the triple play market. Beside all this, the company provides several telecommunication services – the most reliable Internet via optic cables, connectivity, data transfer and etc. All offered services correspond exactly to the high requirements of quality and reliability, which were set at the company. Eurocom is owned by Warburg Pincus - one of the leading private equity investor funds since 1971. The global investment fund currently has approximately $14 billion under management, and invests in a range of industries including and special situations and business services. Warburg Pincus also has a long history as a leading investor in the information and communication technology sectors.